Ethereum price is facing hurdles why ETH is vulnerable below $1,250

Ethereum is trading in a range below $1,250 against the US Dollar. ETH could continue to move lower if it falls below the Resistance of $1,220 remains.

• Ethereum is still range-trading below the $1,200 and $1,220 resistance levels.
• The price is now trading below $1,200 and the 100 hourly simple moving average.
• There is a key bullish trend line forming with support near $1,195 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair remains at risk of a renewed decline if it stays below $1,120 or even $1,250.

Ethereum price still within limits

Ethereum price attempted an upside break above the $1,210 zone. ETH encountered resistance below $1,220 and remained in a bearish zone, similar to Bitcoin.

A high was formed at $1,205 and there was a bearish reaction. The price traded as low as $1,192 and remained range bound. The price is now moving higher above $1,195. The price climbed above the 23.6% Fib retracement level of the recent decline from the $1,205 high to $1,192 low.

Ether price is now trading below $1,200 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,195 on the hourly chart of ETH/USD.

Immediate resistance is near $1,200 and the 100 hourly SMA. It is near the 50% Fib retracement level of the recent decline from the $1,205 high to $1,192 low.

The next major resistance is near $1,210. The first major resistance is at $1,220. A close above the $1,220 resistance could start a decent upward move. In the mentioned case, the price might perhaps rise towards the $1,250 resistance. The next major resistance might be $1,270, above which the price could surge towards the $1,300 resistance zone.

ETH decline again?

If Ethereum fails to scale above the $1,210 resistance, it could trigger another decline. Initial support on the downside is near $1,195 and the trendline.

The next major support is near the $1,185 level. A downside break below $1,185 could send the price towards the $1,150 support. Further losses may require a test of the $1,120 zone.

Technical indicators

Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now near the 50 level.

Greater support level – $1,185

Main resistance level – $1,210