{"id":14196,"date":"2022-12-16T10:56:34","date_gmt":"2022-12-16T14:56:34","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14196"},"modified":"2022-12-16T10:56:34","modified_gmt":"2022-12-16T14:56:34","slug":"ethereum-price-just-signaled-sell-and-its-vulnerable-to-more-downsides","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/16\/ethereum-price-just-signaled-sell-and-its-vulnerable-to-more-downsides\/","title":{"rendered":"Ethereum Price Just Signaled \u201cSell\u201d And It\u2019s Vulnerable to More Downsides"},"content":{"rendered":"

Ethereum started a fresh decline from the $1,350 resistance against the US Dollar. ETH traded below $1,300 and is showing bearish signs.<\/em><\/p>\n

Ethereum started another decline and traded below the $1,300 support.
\nThe price is now trading below $1,290 and the 100 hourly simple moving average.
\nThere was a break below a major bullish trend line with support near $1,290 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down unless the price climbs above the $1,300 resistance.<\/p>\n

Ethereum Price Restarts Decline<\/h2>\n

Ethereum price failed to clear the $1,350 resistance zone<\/a>. ETH formed a top near $1,350 and started a fresh decline. There was a clear move below the $1,300 support and the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n

During the decline, there was a break below a major bullish trend line with support near $1,290 on the hourly chart of ETH\/USD. The price settled below the 61.8% Fib retracement level of the upward wave from the $1,240 swing low to $1,349 swing high.<\/p>\n

Ether price is now trading below $1,290 and the 100 hourly simple moving average. It is also consolidating near the 76.4% Fib retracement level of the upward wave from the $1,240 swing low to $1,349 swing high.<\/p>\n

An immediate resistance on the upside is near the $1,285 level and the 100 hourly simple moving average. The first major resistance is near the $1,300 and $1,305 levels. A close above the $1,305 resistance might start a fresh increase.<\/p>\n

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

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

The next major resistance could be $1,350, above which ether could rise towards $1,400. Any more gains might send the price towards the $1,480 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,300 resistance, it could continue to move down. An initial support on the downside is near the $1,260 level.<\/p>\n

The next major support is near the $1,240 level, below which the price could gain bearish momentum towards the $1,200 support. Any more losses could lead the price towards the $1,100 support.<\/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 $1,260<\/p>\n

Major Resistance Level \u2013 $1,300<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum started a fresh decline from the $1,350 resistance against the US Dollar. ETH traded below $1,300 and is showing bearish signs.<\/em><\/p>\n

Ethereum started another decline and traded below the $1,300 support.
\nThe price is now trading below $1,290 and the 100 hourly simple moving average.
\nThere was a break below a major bullish trend line with support near $1,290 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down unless the price climbs above the $1,300 resistance.<\/p>\n

Ethereum Price Restarts Decline<\/h2>\n

Ethereum price failed to clear the $1,350 resistance zone<\/a>. ETH formed a top near $1,350 and started a fresh decline. There was a clear move below the $1,300 support and the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n

During the decline, there was a break below a major bullish trend line with support near $1,290 on the hourly chart of ETH\/USD. The price settled below the 61.8% Fib retracement level of the upward wave from the $1,240 swing low to $1,349 swing high.<\/p>\n

Ether price is now trading below $1,290 and the 100 hourly simple moving average. It is also consolidating near the 76.4% Fib retracement level of the upward wave from the $1,240 swing low to $1,349 swing high.<\/p>\n

An immediate resistance on the upside is near the $1,285 level and the 100 hourly simple moving average. The first major resistance is near the $1,300 and $1,305 levels. A close above the $1,305 resistance might start a fresh increase.<\/p>\n

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

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

The next major resistance could be $1,350, above which ether could rise towards $1,400. Any more gains might send the price towards the $1,480 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,300 resistance, it could continue to move down. An initial support on the downside is near the $1,260 level.<\/p>\n

The next major support is near the $1,240 level, below which the price could gain bearish momentum towards the $1,200 support. Any more losses could lead the price towards the $1,100 support.<\/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 $1,260<\/p>\n

Major Resistance Level \u2013 $1,300<\/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-14196","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\/14196","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=14196"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14196\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14196"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14196"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14196"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}