{"id":12483,"date":"2022-11-22T05:57:39","date_gmt":"2022-11-22T09:57:39","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12483"},"modified":"2022-11-22T05:57:39","modified_gmt":"2022-11-22T09:57:39","slug":"ethereum-price-plunges-why-eth-could-soon-dive-below-1000","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/22\/ethereum-price-plunges-why-eth-could-soon-dive-below-1000\/","title":{"rendered":"Ethereum Price Plunges, Why ETH Could Soon Dive Below $1,000"},"content":{"rendered":"

Ethereum traded below the $1,150 support against the US Dollar. ETH is gaining bearish momentum and might dive below the $1,000 support zone.<\/em><\/p>\n

Ethereum remained in a bearish zone below the $1,150 and $1,120 support levels.
\nThe price is now trading below $1,150 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,100 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair remains at a risk of more losses below $1,050 and $1,000 in the near term.<\/p>\n

Ethereum Price Turns Red<\/h2>\n

Ethereum price started another decline from the $1,250 resistance, similar to bitcoin<\/a>. ETH followed a bearish path and settled below the $1,200 pivot level.<\/p>\n

The bears gained pace for a move below the $1,150 level and the 100 hourly simple moving average. It traded to a new monthly low at $1,078 and is currently consolidating losses. Ether is now trading below $1,150 and the 100 hourly simple moving average<\/a>.<\/p>\n

An immediate resistance on the upside is near the $1,100 level. There is also a key bearish trend line forming with resistance near $1,100 on the hourly chart of ETH\/USD. The trend line is close to the 23.6% Fib retracement level of the downward move from the $1,232 swing high to $1,078 low.<\/p>\n

The next major resistance is near the $1,150 level or the 100 hourly simple moving average. The 50% Fib retracement level of the downward move from the $1,232 swing high to $1,078 low is also near $1,155.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

The main resistance is now near $1,200. A clear break above the $1,200 resistance could send the price towards the $1,250 resistance zone. Any more gains might open the doors for a test of the $1,300 resistance zone.<\/p>\n

More Losses in ETH?<\/h2>\n

If ethereum fails to climb above the $1,155 resistance, it could continue to move down. An initial support on the downside is near the $1,080 level.<\/p>\n

The next major support is near the $1,000 level, below which ether price may perhaps gain bearish momentum. In the stated scenario, the price could decline towards the $920 support zone in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

Major Support Level \u2013 $1,080<\/p>\n

Major Resistance Level \u2013 $1,155<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum traded below the $1,150 support against the US Dollar. ETH is gaining bearish momentum and might dive below the $1,000 support zone.<\/em><\/p>\n

Ethereum remained in a bearish zone below the $1,150 and $1,120 support levels.
\nThe price is now trading below $1,150 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,100 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair remains at a risk of more losses below $1,050 and $1,000 in the near term.<\/p>\n

Ethereum Price Turns Red<\/h2>\n

Ethereum price started another decline from the $1,250 resistance, similar to bitcoin<\/a>. ETH followed a bearish path and settled below the $1,200 pivot level.<\/p>\n

The bears gained pace for a move below the $1,150 level and the 100 hourly simple moving average. It traded to a new monthly low at $1,078 and is currently consolidating losses. Ether is now trading below $1,150 and the 100 hourly simple moving average<\/a>.<\/p>\n

An immediate resistance on the upside is near the $1,100 level. There is also a key bearish trend line forming with resistance near $1,100 on the hourly chart of ETH\/USD. The trend line is close to the 23.6% Fib retracement level of the downward move from the $1,232 swing high to $1,078 low.<\/p>\n

The next major resistance is near the $1,150 level or the 100 hourly simple moving average. The 50% Fib retracement level of the downward move from the $1,232 swing high to $1,078 low is also near $1,155.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

The main resistance is now near $1,200. A clear break above the $1,200 resistance could send the price towards the $1,250 resistance zone. Any more gains might open the doors for a test of the $1,300 resistance zone.<\/p>\n

More Losses in ETH?<\/h2>\n

If ethereum fails to climb above the $1,155 resistance, it could continue to move down. An initial support on the downside is near the $1,080 level.<\/p>\n

The next major support is near the $1,000 level, below which ether price may perhaps gain bearish momentum. In the stated scenario, the price could decline towards the $920 support zone in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

Major Support Level \u2013 $1,080<\/p>\n

Major Resistance Level \u2013 $1,155<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-12483","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12483","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=12483"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12483\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12483"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}