Ethereum Price Bulls Losing Steam – What Happens If $4,400 Breaks?

Ethereum price started a fresh decline from the $4,700 ￰0￱ is now showing bearish signs and might gain bearish momentum if it declines below $4,400. Ethereum is still struggling to settle above the $4,630 ￰1￱ price is trading below $4,550 and the 100-hourly Simple Moving ￰2￱ was a break below a bullish trend line with support at $4,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses and dive if there is a close below $4,400 in the near ￰3￱ Price Dips Again Ethereum price started a recovery wave after it tested the $4,320 zone, like ￰4￱ price was able to climb above the $4,400 and $4,450 resistance ￰5￱ price surpassed the 23.6% Fib retracement level of the key decline from the $4,955 swing high to the $4,310 low.

However, the bears remained active near the $4,630 resistance ￰6￱ were two attempts, but the bulls failed to gain ￰7￱ 50% Fib retracement level of the key decline from the $4,955 swing high to the $4,310 low is acting as a ￰8￱ price reacted to the downside below $4,600. Besides, there was a break below a bullish trend line with support at $4,550 on the hourly chart of ETH/USD. Ethereum price is now trading below $4,550 and the 100-hourly Simple Moving ￰9￱ the upside, the price could face resistance near the $4,550 ￰10￱ next key resistance is near the $4,600 ￰11￱ first major resistance is near the $4,630 level. A clear move above the $4,630 resistance might send the price toward the $4,720 ￰12￱ upside break above the $4,720 resistance might call for more gains in the coming ￰13￱ the stated case, Ether could rise toward the $4,800 resistance zone or even $4,880 in the near ￰14￱ Losses In ETH?

If Ethereum fails to clear the $4,550 resistance, it could continue to move ￰15￱ support on the downside is near the $4,440 ￰16￱ first major support sits near the $4,400 zone. A clear move below the $4,400 support might push the price toward the $4,320 ￰17￱ more losses might send the price toward the $4,250 support level in the near ￰18￱ next key support sits at $4,150. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish ￰19￱ RSI – The RSI for ETH/USD is now below the 50 ￰20￱ Support Level – $4,400 Major Resistance Level – $4,550