$4K Shattered 🚨 – Ethereum Faces Pressure From Bears

Below $4,050, Ethereum price fell again. ETH is suffering and might fall more if it breaches $3,850.

Ethereum lost momentum and fell below $4,000.

The price is below $4,050 and the 100-hour SMA.

The hourly ETH/USD chart shows a negative trend line with resistance at $4,050.

It may fall more if it falls below $3,880 and $3,850.

Further Ethereum Price Drop

Ethereum, like Bitcoin, stayed negative after falling below $4,250. Eth fell below $4,120 and $4,050 support.

Bears drove the price below $4,000. A brief recovery wave began once the price hit $3,826. The bearish wave from $4,275 swing high to $3,826 low moved past the 23.6% Fib retracement line.

Bears were aggressive at $3,950 resistance. Ethereum has fallen below $4,000 and the 100-hour SMA. On the hourly ETH/USD chart, a negative trend line with resistance at $4,050 is forming.

Price may find resistance at $4,000 on the upside. Next resistance is $4,050, the 50% Fib retracement level of the falling wave from $4,275 swing high to $3,826 low. Near $4,120 is the first substantial resistance. The trend line and $4,150 barrier may be reached if the price breaks $4,120 resistance.

Above $4,250 might lead to additional advances in the following sessions. In this situation, Ether may soar to $4,320 or $4,350 soon.

More ETH losses?
Ethereum may fall again if it fails to break $4,050. Around $3,880 is first downward support. Near $3,820 is the first big support.

A decisive break below $3,820 might bring the price near $3,750. More losses might push the price toward $3,720. Next important support is $3,650.

Tech Indicators

The negative MACD for ETH/USD is growing.

Hourly RSI: ETH/USD is below 50.

Major Support: $3,820

Major Resistance: $4,050

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