<div><h2>Key Highlights</h2>
<ul><li>ETH price tumbled and broke a major support at $648-660 against the US Dollar.</li>
<li>This week&rsquo;s highlighted important bullish trend line with support at $660 was breached on the hourly chart of ETH/USD (data feed via Kraken).</li>
<li>The pair retested the broken support at $648, but it acted as a resistance and prevented gains.</li>
</ul><p><em>Ethereum price is back in a bearish zone against the US Dollar and Bitcoin. ETH/USD has to move back above $645-660 to start a fresh upside wave.</em></p>
<h2>Ethereum Price Resistance</h2>
<p>There was a <a href="https://www.newsbtc.com/2018/04/25/ethereum-price-technical-analysis-eth-usd-dips-remains-supported/" target="_blank">fresh start of a downside</a> move from well above $675 in ETH price against the US Dollar. The price declined and broke many supports such as $675 and $660. The decline gained pace once there was a break below the $675 support. It dropped by more than $80 and settled below the 100 hourly simple moving average. During the decline, there was a close below a crucial pivot level at $548.</p>
<p>More importantly, this week&rsquo;s highlighted important bullish trend line with support at $660 was breached on the hourly chart of ETH/USD. There was even a downside spike below $600 and the price traded as low as $595.37. Later, an upside wave was initiated and the price moved above the 23.6% Fib retracement level of the last decline from the $711 high to $595 low. However, the upside move was protected by the previous support at $648. Moreover, the 50% Fib retracement level of the last decline from the $711 high to $595 low also acted as a <a href="https://www.newsbtc.com/2018/04/24/ethereum-price-technical-analysis-eth-usd-buyers-control/" target="_blank">barrier for buyers</a>.</p>
<p><img src="https://s3.amazonaws.com/main-newsbtc-images/2018/04/26021702/Ethereum23.png" alt="Ethereum Price Technical Analysis ETH USD" width="1824" height="917"><br></p>
<p>Looking at the <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank">chart</a>, the price seems to be struggling to move back above $648. The stated $648 level was a support earlier and now it is acting as a hurdle. In the short term, there could be ranging moves below $648 before the price makes the next move.</p>
<p><strong>Hourly MACD &ndash; </strong>The MACD has moved back in the bearish zone.</p>
<p><strong>Hourly RSI &ndash; </strong>The RSI is now well below the 50 level.</p>
<p><strong>Major Support Level</strong> &ndash; $595</p>
<p><strong>Major Resistance Level</strong> &ndash; $642</p>
<p>The post <a href="https://www.newsbtc.com/2018/04/26/ethereum-price-technical-analysis-eth-usd-support-turned-resistance/">Ethereum Price Technical Analysis &ndash; ETH/USD Support Turned Resistance</a> appeared first on <a href="https://www.newsbtc.com">NewsBTC</a>.</p></div><br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://icoinfo.space/index.php/2018/04/25/ethereum-price-technical-analysis-eth-usd-support-turned-resistance/</em><hr/></center>