Ethereum Falling—Is $1,550 Next?

Ethereum failed to regain over $1,820. ETH is consolidating losses and may encounter resistance at $1,840.

Ethereum fell below $1,850 and $1,840.
The price is below $1,840 and the 100-hour SMA.
The hourly ETH/USD chart shows a short-term negative trend line with resistance at $1,810.

To rise, the pair must break $1,820 and $1,840 barriers.

Further Ethereum Price Drop

Ethereum lost like Bitcoin below the $1,800 support zone. After falling below $1,751, ETH corrected. Above $1,780 and $1,800 resistance levels.

Bulls even broke the 23.6% Fib retracement level of the $1,955 swing high to $1,751 low decline. However, bears are active around $1,820. The price is solidifying and confronting various obstacles.

Ethereum has fallen below $1,820 and the 100-hour SMA. The price may face resistance at $1,810 on the upside. The hourly ETH/USD chart shows a short-term negative trend line with resistance at $1,810.

The next major barrier is $1,840, the 50% Fib retracement level of the decline from the $1,955 swing high to the $1,751 low at $1,850. Near $1,880 is the first substantial resistance.

A clean break over $1,880 might push the price above $1,920. Above $1,920 barrier might lead to greater advances in the following sessions. Ether may reach to $2,000 or $2,050 soon.

Another ETH drop?
Ethereum may fall again if it fails to break $1,850. At $1,765, negative support begins. First big support is around $1,750.

A decisive break below $1,750 might bring the price around $1,720. More losses might push the price beyond $1,680. The next support is $1,620.

Tech Indicators

The negative MACD for ETH/USD is growing.

Hourly RSI: ETH/USD is below 50.

Major Support—$1,750

Major Resistance: $1,850

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