Why did Ethereum fall, when will it rise?

Ethereum tumbled heavily against the US Dollar, dropping more than 15% from a high of $445. So when will Ethereum rise? Is there a fall before the rise?

When will Ethereum rise after the last drop?

• Ethereum has lost a lot of value against the US Dollar in recent days. It is down over 15% from its peak of $445.
• ETH price is trading in a bearish zone below the $400 and $410 resistance levels.
• There is strong support pending the pair near the $368 and $360 levels.

There is a key bearish trend line forming with resistance near $400 on the 4-hours chart of

• ETHUSD.

When will Ethereum rise? Will a bigger drop come before the rise?

ETH price may continue to decline. The pair could drop to $360 before the bulls make a fresh attempt.. However, the $360 support zone still acts as a strong hurdle for the bears.

Ethereum price turns red

Last week, Ethereum failed to hold its gains and against the US Dollar Started a strong bearish move below $420. ETH price broke the $400 support zone and dropped quickly below the 100 simple moving average (4-hours).

The drop was so strong; Ethereum even broke below the $385 support level. A bottom has been formed around $379. And the price is currently correcting higher.

Ethereum breaks above the $385 level. However, it faced resistance near the $395 level.

Looks like; The 23.6% Fib retracement level of the downside move that took the pair from the $447 high to $379 low is also acting as resistance.

The first major resistance is now near the $400 level and the 100 simple moving average (4-hours).. There is also a key bearish trend line forming with resistance near $400 on the 4-hours chart of the ETHUSD pair.

When will Ethereum rise?

Ethereum price breaks the $395 and $400 resistance levels. ; can start a real bullish wave. Because the next major resistance is near the $410 level or the 50% Fib retracement level of the downside move from the $447 high to $379 low.

To move into the positive zone and start a fresh upward move , Ethereum needs to surpass the $410 and $415 resistance levels in the coming days.

Important support levels for Ethereum

If Ethereum fails to break through the $400 resistance zone, it may go down. can continue to move. Initial support is near the $380 level; The first major support is seen near the $368 level.

The next major support is near the $360 level (last breakout zone). Below this, the bears may aim for a larger decline in the near term.

Technical Indicators:

4-hour MACD: The MACD for ETHUSD is slowly moving in the bullish zone .

4-hours RSI: The RSI for ETHUSD is still below the 40 level.

Main support level: $360

Main resistance level: $400

See: Ethereum killers actually benefit Ethereum!

Source

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