4-Hour Analysis:
Big Picture: Ethereum currently having a hard time against the major EMA pairs of 50 & 100. Having said that it is equally important to note that even after having such a strong selling pressure Eth has yet honored the year-long range low support level. This has been a massive achievement by the bulls. However this support now needs to start gaining some strength and momentum if it has to hold any longer. The price action is getting thinner and thinner signaling that a breakout remains just around the corner.
On the Upside Eth is facing intraday resistance from the EMA-50 level at 1825. Following that, we have a critical resistance level at 1880. This level contains both falling channel resistance and, more importantly, the EMA-100. Eth needs to clear this level in-order to open a test towards psychological level of 2000. Stronghold above 2000 leads Eth initially towards 2100-2150 followed by 2300 level.
On the Downside Early support can be found between 1780 and 1760. The range lows support is located between 1720 and 1700. This is an important level for Eth to keep in order to avoid further hyperselling situations. Loss of this support would be a huge blow to bulls, who would then be vulnerable towards 1580, 1415, and 1290.
