{"id":12838,"date":"2022-11-28T05:55:11","date_gmt":"2022-11-28T09:55:11","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=12838"},"modified":"2022-11-28T05:55:11","modified_gmt":"2022-11-28T09:55:11","slug":"ethereum-price-could-avoid-a-major-drop-if-it-closes-above-1250","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/11\/28\/ethereum-price-could-avoid-a-major-drop-if-it-closes-above-1250\/","title":{"rendered":"Ethereum Price Could Avoid a Major Drop if it Closes Above $1,250"},"content":{"rendered":"

Ethereum failed to clear the $1,250 resistance against the US Dollar. ETH is moving lower and might decline heavily if it breaks the $1,140 support.<\/em><\/p>\n

Ethereum struggled to gain pace for a move above the $1,250 resistance level.
\nThe price is now trading below $1,180 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,210 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bearish momentum if there is no clear move above $1,230 and $1,250.<\/p>\n

Ethereum Price Dips Again<\/h2>\n

Ethereum price attempted an upside break above the $1,230 resistance. However, ETH failed to gain pace and stayed below the $1,250 resistance. There was a fresh bearish reaction from the $1,235 high, similar to bitcoin<\/a>.<\/p>\n

There was a move below the $1,210 and $1,200 support levels. Besides, there was a break below a key bullish trend line with support near $1,210 on the hourly chart of ETH\/USD. The bears pushed the pair towards the 50% Fib retracement level of the upward move from the $1,073 swing low to $1,235 high.<\/p>\n

Ether price is now trading below $1,180 and the 100 hourly simple moving average. It seems to be consolidating near the $1,170 level. An immediate resistance on the upside is near the $1,200 level and the 100 hourly simple moving average.<\/p>\n

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

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

The next major resistance is near the $1,230 level. The main hurdle sits near the $1,250 level<\/a>. To start a decent increase and avoid more losses, the price must settle above $1,250. In the stated case, ether price may perhaps rise towards the $1,320 resistance zone. Any more gains might send the price towards the $1,400 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,200 resistance, it could continue to move down. An initial support on the downside is near the $1,155 level.<\/p>\n

The next major support is near the $1,135 level or the 61.8% Fib retracement level of the upward move from the $1,073 swing low to $1,235 high, below which ether price may perhaps gain bearish momentum. In the stated scenario, the price could drop towards the $1,075 support zone.<\/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 40 level.<\/p>\n

Major Support Level \u2013 $1,135<\/p>\n

Major Resistance Level \u2013 $1,200<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum failed to clear the $1,250 resistance against the US Dollar. ETH is moving lower and might decline heavily if it breaks the $1,140 support.<\/em><\/p>\n

Ethereum struggled to gain pace for a move above the $1,250 resistance level.
\nThe price is now trading below $1,180 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,210 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bearish momentum if there is no clear move above $1,230 and $1,250.<\/p>\n

Ethereum Price Dips Again<\/h2>\n

Ethereum price attempted an upside break above the $1,230 resistance. However, ETH failed to gain pace and stayed below the $1,250 resistance. There was a fresh bearish reaction from the $1,235 high, similar to bitcoin<\/a>.<\/p>\n

There was a move below the $1,210 and $1,200 support levels. Besides, there was a break below a key bullish trend line with support near $1,210 on the hourly chart of ETH\/USD. The bears pushed the pair towards the 50% Fib retracement level of the upward move from the $1,073 swing low to $1,235 high.<\/p>\n

Ether price is now trading below $1,180 and the 100 hourly simple moving average. It seems to be consolidating near the $1,170 level. An immediate resistance on the upside is near the $1,200 level and the 100 hourly simple moving average.<\/p>\n

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

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

The next major resistance is near the $1,230 level. The main hurdle sits near the $1,250 level<\/a>. To start a decent increase and avoid more losses, the price must settle above $1,250. In the stated case, ether price may perhaps rise towards the $1,320 resistance zone. Any more gains might send the price towards the $1,400 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,200 resistance, it could continue to move down. An initial support on the downside is near the $1,155 level.<\/p>\n

The next major support is near the $1,135 level or the 61.8% Fib retracement level of the upward move from the $1,073 swing low to $1,235 high, below which ether price may perhaps gain bearish momentum. In the stated scenario, the price could drop towards the $1,075 support zone.<\/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 40 level.<\/p>\n

Major Support Level \u2013 $1,135<\/p>\n

Major Resistance Level \u2013 $1,200<\/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-12838","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\/12838","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=12838"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/12838\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=12838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=12838"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=12838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}