Another Decline In ETH?

If $ETH fails to clear the $2,600 resistance, it could start a fresh decline. Initial support on the downside is near the $2,525 level. The first major support sits near the $2,500 zone.

A clear move below the $2,500 support might push the price toward the $2,420 support. Any more losses might send the price toward the $2,350 support level in the near term. The next key support sits at $2,320.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Major Support Level – $2,500

Major Resistance Level – $2,600