🔥 Ethereum Cools Off — But Is the Fire About to Rekindle?

Ethereum began a decline below $4,650. ETH may fall to $4,180 due to negative indications.

Ethereum fell again below $4,650 and $4,620.
The price is below $4,500 and the 100-hour SMA.

The hourly ETH/USD chart shows a negative trend line with resistance at $4,520.

Ethereum failed to rise beyond $4,750 like Bitcoin. ETH fell below $4,650.

Price dropped below $4,550 support by bears. The $4,170 swing low to $4,782 high upward advance fell below the 61.8% Fib retracement line. The hourly ETH/USD chart shows a negative trend line with resistance at $4,520.

Ethereum has fallen below $4,550 and the 100-hour SMA. It is around the 76.4% Fib retracement of the $4,170 swing low to $4,782 high.

Price may find resistance at $4,380 on the upside. Around $4,440 is the next major resistance. Near $4,500 is the first significant resistance. A clean break over $4,500 might push the price above $4,550.

Above $4,550 barrier might lead to greater advances in the following sessions. Ether might grow to $4,650 or $4,720 in the short future.

More ETH losses?
Ethereum may fall if it fails to break $4,500. At $4,240, negative support begins. First significant support is around $4,200.

A decisive break below $4,200 might bring the price around $4,180. If losses continue, the price may reach $4,050 support. The next support is $4,000.

Tech Indicators

The negative MACD for ETH/USD is growing.

Hourly RSI: ETH/USD is below 50.

Major Support—$4,200

Major Resistance: $4,500

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