Ethereum Price Slides Below $4,000 Support As Sellers Tighten Their Grip

Ethereum price struggled to stay above $4,020 and dipped ￰0￱ is now consolidating in a range and might decline further if there is a move below $3,820. Ethereum started a fresh decline below $4,020 and $4,000. The price is trading below $4,000 and the 100-hourly Simple Moving ￰1￱ is a key bearish trend line forming with resistance at $4,070 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below $3,820.

Ethereum Price Dips Below Support Ethereum price struggled to settle above $4,120 and corrected most gains, like ￰2￱ price declined below the $4,020 and $4,000 ￰3￱ even tested the $3,820 zone. A low was formed at $3,828 and the price is now consolidating ￰4￱ was a minor increase toward the 23.6% Fib retracement level of the recent decline from the $4,215 swing high to the $3,828 ￰5￱ price is now trading below $4,000 and the 100-hourly Simple Moving Average . Besides, there is a key bearish trend line forming with resistance at $4,070 on the hourly chart of ETH/USD. On the upside, the price could face resistance near the $3,950 ￰6￱ next key resistance is near the $4,020 level and the 50% Fib retracement level of the recent decline from the $4,215 swing high to the $3,828 ￰7￱ first major resistance is near the $4,070 level and the trend line.

A clear move above the $4,070 resistance might send the price toward the $4,120 ￰8￱ upside break above the $4,120 region might call for more gains in the coming ￰9￱ the stated case, Ether could rise toward the $4,220 resistance zone or even $4,250 in the near ￰10￱ Decline In ETH? If Ethereum fails to clear the $4,020 resistance, it could start a fresh ￰11￱ support on the downside is near the $3,880 ￰12￱ first major support sits near the $3,820 zone. A clear move below the $3,820 support might push the price toward the $3,740 ￰13￱ more losses might send the price toward the $3,650 region in the near ￰14￱ next key support sits at $3,550. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish ￰15￱ RSI – The RSI for ETH/USD is now below the 50 ￰16￱ Support Level – $3,820 Major Resistance Level – $4,070