ETH/USD could extend decline

Note: This section contains information in English only.
Source: Dukascopy Bank SA


In the aftermath of reaching above the 2,500.00 level, the ETH/USD exchange rate started a retracement back down.

It can be observed on the daily candle chart that the rate's declines from new all-time-high levels occur in a similar matter. Namely, the price slightly declines below the 50-day simple moving average before resuming its 2021 surge.

A potential decline could look for support in the April low levels and the psychological support of the round price at 2,000.00. In addition, this week, the weekly simple pivot points first support level was located at 1,969.60.

Moreover, if the decline would continue, as it started, by the time that the rate reaches the 2,000.00 level, it would most likely be strengthened by the mentioned 50-day simple moving average.
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