Ethereum Price Key Features

Ethereum price exchanged further lower and tried the following support at $204 against the US Dollar.
There are two bearish pattern lines set up with resistance at $220 and $234 on the hourly outline of ETH/USD (information feed by means of Kraken).
The pair needs to move back over the $224 and $228 resistances to recuperate for the time being.

Ethereum price is confronting an expanded offering weight against the US Dollar and bitcoin. ETH/USD could quicken misfortunes as long as the price is underneath $224.

Ethereum Price Analysis

Recently, we saw the beginning of a drawback move from the $236-238 zone in Ethereum price against the US Dollar. The ETH/USD pair declined and broke the $225 and $220 support levels. Afterward, there was a nearby beneath the $220 level and the 100 hourly basic moving normal. The price tried the $204 level and later remedied higher. There was a push over the 23.6% Lie retracement level of the last decay from the $246 high to $204 low.

Be that as it may, the price neglected to move over the $220 and $222 levels. All the more vitally, there are two bearish pattern lines set up with resistance at $220 and $234 on the hourly diagram of ETH/USD. Over the main pattern line, the following resistance is close $224. It speaks to the half Lie retracement level of the last decay from the $246 high to $204 low. Additionally, the 100 hourly SMA is likewise close $224. Thusly, purchasers are probably going to battle close to the $224 and $225 levels in the close term.

Taking a gander at the diagram, Ethereum price stays at a danger of more misfortunes if there is no break above $220 and $224. Over these two, the following hindrance is near $232. On the drawback, a break underneath $204 may call for more misfortunes beneath the $200 level.

Hourly MACD – The MACD is gradually moving in the bullish zone.

Hourly RSI – The RSI is right now beneath the 50 level.

Real Support Level – $204

Real Resistance Level – $224