- ETH price is trading in a bearish zone below the $190 and $192 resistances against the US Dollar.
- The price is at a risk of more downsides if it breaks the $185 and $182 support levels.
- There is a key bearish trend line forming with resistance at $187 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair might slowly move down towards the $182 and $180 support levels in the near term.
Ethereum price is trading in a bearish zone versus the US Dollar and bitcoin. ETH price could decline sharply if it fails to stay above the $182 and $180 support levels.
Ethereum Price Analysis
After a failed upside attempt near $195, ETH price started a fresh decline against the US Dollar. The price broke the key $192 support level to move back into a bearish zone. Moreover, there was a close below the $190 level and the 100 hourly simple moving average. On the downside, the $184 level seems to be acting as a decent support. Similarly, there were mostly bearish moves in bitcoin below the $10,300 and $10,400 levels.
At the moment, Ethereum is trading near the $185 level. An immediate support is near the $184 level. If there is a downside break below the $184 support, the price could test the $182 support. The main support is near the $180 level, below which there is a risk of a sharp decline in the coming sessions.ETH Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly gaining momentum in the bearish zone.
Hourly RSI – The RSI for ETH/USD is currently holding the 40 level, with a negative bias.