Ethereum failed to clear the $1,250 resistance against the US Dollar. ETH is declining and remains at a risk of more downsides below the $1,000 support.<\/p>\n
Ethereum started a fresh decline after it failed to surpass the $1,250 zone.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance near $1,095 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could resume its decline unless it clears $1,150 and $1,200 in the near term.<\/p>\n
Ethereum Price Remains At Risk<\/p>\n
Ethereum attempted a recovery wave above the $1,200 resistance zone. However, the bears were active near the $1,250 level. A high was formed near $1,256 and the price started a fresh decline.<\/p>\n
There was a move below the $1,200 and $1,150 levels. The price even settled below the $1,200 level and the 100 hourly simple moving average. A low was formed near $1,050 and ether is now consolidating losses. An immediate resistance is near the $1,090 level.<\/p>\n
There is also a connecting bearish trend line forming with resistance near $1,095 on the hourly chart of ETH\/USD. The trend line is near the 23.6% Fib retracement level of the recent drop from the $1,256 swing high to $1,050 low.<\/p>\n
The next major resistance is near the $1,150 zone. It is close to the 50% Fib retracement level of the recent drop from the $1,256 swing high to $1,050 low. Any more gains might call for a test of the $1,200 level or the 100 hourly simple moving average.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
A clear move above the $1,200 resistance zone may perhaps start a decent upward move. The next major resistance is near the $1,260 level. Any more gains could start a move towards the $1,350 resistance.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,200 resistance, it could continue to move down. An initial support on the downside is near the $1,050 zone.<\/p>\n
The next major support is near the $1,000 zone. A clear move and break below the $1,000 zone could start a major decline. In the stated case, the price could slide towards the $880 support zone in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,000<\/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 declining and remains at a risk of more downsides below the $1,000 support.<\/p>\n
Ethereum started a fresh decline after it failed to surpass the $1,250 zone.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance near $1,095 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could resume its decline unless it clears $1,150 and $1,200 in the near term.<\/p>\n
Ethereum Price Remains At Risk<\/p>\n
Ethereum attempted a recovery wave above the $1,200 resistance zone. However, the bears were active near the $1,250 level. A high was formed near $1,256 and the price started a fresh decline.<\/p>\n
There was a move below the $1,200 and $1,150 levels. The price even settled below the $1,200 level and the 100 hourly simple moving average. A low was formed near $1,050 and ether is now consolidating losses. An immediate resistance is near the $1,090 level.<\/p>\n
There is also a connecting bearish trend line forming with resistance near $1,095 on the hourly chart of ETH\/USD. The trend line is near the 23.6% Fib retracement level of the recent drop from the $1,256 swing high to $1,050 low.<\/p>\n
The next major resistance is near the $1,150 zone. It is close to the 50% Fib retracement level of the recent drop from the $1,256 swing high to $1,050 low. Any more gains might call for a test of the $1,200 level or the 100 hourly simple moving average.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
A clear move above the $1,200 resistance zone may perhaps start a decent upward move. The next major resistance is near the $1,260 level. Any more gains could start a move towards the $1,350 resistance.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,200 resistance, it could continue to move down. An initial support on the downside is near the $1,050 zone.<\/p>\n
The next major support is near the $1,000 zone. A clear move and break below the $1,000 zone could start a major decline. In the stated case, the price could slide towards the $880 support zone in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,000<\/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-1395","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\/1395","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=1395"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/1395\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=1395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=1395"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=1395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}