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Ethereum Price at Risk of Heavy Decline Below $1,720 Support

The price of Ethereum is currently facing resistance at $1,780 and $1,800 levels and is trading below the 100-hourly Simple Moving Average. A bearish trend line is forming with resistance near $1,760 on the hourly chart of ETH/USD.

If there is a clear move below the $1,720 support, the price could decline heavily. However, a proper move above the $1,775 and $1,780 resistance levels might send Ether towards $1,850 and beyond. The MACD for ETH/USD is gaining momentum in the bearish zone and the RSI is now below the 50 level.

Ethereum Ethereum $3,339.74
-4.54%
Ethereum
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