TA: Ethereum Plunges, What Could Push ETH Below $4K

TA: Ethereum Plunges, What Could Push ETH Below $4K


Ethereum failed to stay above the $4,250 support against the US Dollar. ETH could extend losses below $4,000 if it fails to recover above the $4,250 resistance.

Ethereum started a fresh decline from well above the $4,350 and $4,300 levels. The price is now trading below $4,250 and the 100 hourly simple moving average. There is a short-term declining channel forming with resistance near $4,250 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate lower if there is a clear break below the $4,000 support zone. Ethereum Price Eyes More Downsides

Ethereum failed to stay above the $4,350 support level and extended decline, similar to bitcoin. ETH price declined sharply below the $4,300 and $4,250 support levels.

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