Ethereum Price Weekly Analysis ETH/USD Tumbles Below $560

Ethereum Price Weekly Analysis  ETH/USD Tumbles Below $560

Key Highlights


ETH price was under immense bearish pressure and it declined below the $560 support against the US Dollar.
There is a major bearish trend line forming with resistance at $575 on the 4-hours chart of ETH/USD (data feed via Kraken).
The pair may continue to slide and it could even break the $500 level in the near term.

Ethereum price declined sharply during the past few days against the US Dollar and Bitcoin. ETH/USD could continue to move down below the $500 level.

Ethereum Price Decline

This past week, a major downside move was initiated from the $750 swing high in ETH price against the US Dollar. The price declined and moved below the $700 and $600 support levels. The decline accelerated recently and sellers succeeded in pushing the price below the $560 support. ETH price is now trading well below the $600 level and the 100 simple moving average (2-hours).

The recent low was formed at $508 and it seems like the price may even not correct in the short term. An initial resistance is around the 23.6% Fib retracement level of the last decline from the $738 high to $508 low. Moreover, there is a major bearish trend line forming with resistance at $575 on the 4-hours chart of ETH/USD. The pair remains at a risk, and if there is a correction from the current levels, the $575 level could act as a major resistance.


On the downside, the recent low of $508 is a tiny support. It seems like the price may test the $500 level in the near term. A break below the $500 level could really put buyers under a lot of pressure. In the mentioned case, below $500, the price could move into a medium term downtrend with chances of more losses.

4-hours MACD The MACD is placed well in the bearish zone.

4-hours RSI The RSI is currently near the oversold levels.

Major Support Level $500

Major Resistance Level $575

Charts courtesy Trading View

17.03.2018 / 23:25 63
Bitcoin Cash Price Weekly Analysis  BCH/USD Remains at Risk Bitcoin Cash Price Weekly Analysis
Key Points Bitcoin cash price struggled to recover and moved below the $950 level against the US Dollar. There is a crucial bearish trend line
Ethereum Classic Price Technical Analysis  ETC/USD Tumbles Below $18 Ethereum Classic Price Technical
Key Highlights Ethereum classic price declined heavily and moved below the $20 and $18 supports against the US dollar. There is key connecting
Ethereum Price Technical Analysis  ETH/USD Decline Below $600 Ethereum Price Technical Analysis
Key Highlights ETH price declined sharply and moved below the $650 and $620 support levels against the US Dollar. There was a break below a major
Bitcoin Price Weekly Analysis  BTC/USD Breakdown is Real Bitcoin Price Weekly Analysis BTC/USD
Bitcoin Price Weekly Analysis BTC/USD Breakdown is Real Key Points Bitcoin price is trading in a bearish zone below the $9,400 support level
Ethereum Price Weekly Analysis  ETH/USD Could Break Down Ethereum Price Weekly Analysis
Key Highlights ETH price is under a lot of selling pressure and it remains below the $750 level against the US Dollar. There is a key connecting
Bitcoin Cash Price Weekly Analysis  BCH/USD in Downtrend Bitcoin Cash Price Weekly Analysis
Key Points Bitcoin cash price remains in a downtrend and is currently below $1,000 against the US Dollar. There is a major bearish trend line forming
Comments (0)
Add a comment
Comment on