📉 Ethereum Wobbles at $4,250 — Breakdown Could Accelerate Losses

Ethereum fell again from $4,700. If it falls below $4,250, ETH may continue to fall.

Ethereum struggles to break $4,630.

The price is below $4,550 and the 100-hour SMA.

The hourly ETH/USD chart broke below a positive trend line with support around $4,550.

If the pair closes below $4,400, it might continue to fall.

Ethereum Drops Again

Ethereum began a rebound after testing $4,250, like Bitcoin. ETH price broke $4,320 and $4,450 barrier.

The price broke the 23.6% Fib retracement level of the $4,955 swing high to $4,310 low fall. Bears were aggressive at $4,630 resistance. After two efforts, the bulls failed to acquire strength.

The 50% Fib retracement level of the main slide from $4,955 swing high to $4,310 low is a barrier. Downside reaction below $4,600. Additionally, ETH/USD's hourly chart broke below a bullish trend line with support at $4,550.

Ethereum has fallen below $4,550 and the 100-hour SMA. Price may find resistance at $4,550 on the upside. Around $4,600 is the next major resistance. Near $4,630 is the first substantial resistance.

A clean break over $4,630 might push the price above $4,720. Above $4,720 barrier might lead to greater advances in the following sessions. Ether may soar to $4,800 or $4,880 soon.

More ETH losses?

Ethereum may fall if it fails to break $4,550. At $4,440, negative support begins. First significant support is around $4,400.

A decisive break below $4,400 might bring the price around $4,320. If losses continue, the price may reach $4,250 support. The next support is $4,150.

Tech Indicators

The negative MACD for ETH/USD is growing.

Hourly RSI: ETH/USD is below 50.

Major Support—$4,250

Major Resistance: $4,550

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