Ether could continue to fall as it approaches the 41 level of the Relative Strength Index of Period 14. As the price bars above the moving average lines, the decline could accelerate. The bullish momentum has slowed down but is still above the Stochastic daily level of 50.
Technical Indicators:
Key resistance levels – $1,800 and $2,000
Key support levels – $1,600 and $1,400
What's next for Ethereum?
The altcoin is in a gradual decline on the 4-hour chart after the price collapse on July 14. On August 1, the downtrendeased and the altcoin was trading between $1,800 and $1,880. The current range is expected to be broken today as Ether continues its downtrend. It is possible to reach the Fibonacci extension if the current support is broken.
As we reported on August 01, since July 18, both bulls and bears have desperately tried to break the moving average lines, but without success. The price indicator predicts that Ether will fall to a low of $1,829 and then reverse its trend.
