Ethereum, a public blockchain platform for open source smart contract functionality. Decentralized by its dedicated cryptocurrency Ethereum, the virtual machine handles its peer-to-peer contracts.
From the 1 ethereum to usd chart, the ETH price has fallen sharply in the past week and has climbed to $640 against the US dollar. The ETH/USD 4 hour chart has a key bearish realization, forming a resistance at $720. This pair is slowly recovering, and there are many obstacles to the current attack near 710-720 USD. The main support for the US dollar and bitcoin was tested at the Ethanol price. The ETH/USD is currently closing higher and faces a resistance of 100 SMA near the resistance of $710.
The price of ETH has fallen from the high of $825 in the US dollar. Prices fell sharply and fell below the support of $760 and $700. It is even below the $650 level, forming a low of $638. Later, it began to consolidate the positive signal above $650. Previously broke the 23.6% Fibonacci retracement level, the last time fell below the low of 768 US dollars to 638 US dollars.
On the upside, there is a major resistance level near the $704, 100-hour moving average. Moreover, the last time it fell from $768 to $638, the 50% retracement level was around $703. On the ETH/USD 4-hour chart, there is also a key bearish trend line forming resistance at $720. The exchange rate may continue to rise in the short term, but may face sellers near $704 and $710. In order to get more benefits, you need to break through the resistance trend line of $ 704.
Finally, from the 1 ethereum to usd chart analysis, the above chart shows that the price is consolidating the increase above $640. As long as the price is above 640-650 US dollars, ETH may break through the resistance of 720 US dollars in the next few days to get more benefits.