{"id":14465,"date":"2022-12-21T06:23:33","date_gmt":"2022-12-21T10:23:33","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=14465"},"modified":"2022-12-21T06:23:33","modified_gmt":"2022-12-21T10:23:33","slug":"ethereum-price-bearish-signal-eth-below-100-sma-could-trigger-downside","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/21\/ethereum-price-bearish-signal-eth-below-100-sma-could-trigger-downside\/","title":{"rendered":"Ethereum Price Bearish Signal: ETH Below 100 SMA Could Trigger Downside"},"content":{"rendered":"

Ethereum is facing resistance above $1,220 against the US Dollar. ETH could start another decline if it fails to stay above $1,200 and the 100 hourly SMA.<\/em><\/p>\n

Ethereum started an upside correction above the $1,180 resistance zone.
\nThe price is now trading above $1,200 and the 100 hourly simple moving average.
\nThere is a short-term contracting triangle with resistance near $1,220 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another upward move if there is a wave above the $1,220 resistance.<\/p>\n

Ethereum Price Eyes Recovery<\/h2>\n

Ethereum price found support near the $1,150 zone and started a recovery wave. ETH was able to clear the $1,180 and $1,190 levels. The price even climbed above the $1,200 level and the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n

A high was formed near $1,230 before the price started a consolidation phase. Ether price is now trading near the 23.6% Fib retracement level of the recent increase from the $1,150 swing low to $1,230 high.<\/p>\n

The price is now trading above $1,200 and the 100 hourly simple moving average. There is also a short-term contracting triangle with resistance near $1,220 on the hourly chart of ETH\/USD. The first major resistance is near the $1,220 level.<\/p>\n

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

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

A clear upside break above the $1,220 resistance<\/a> and then a move above the $1,230 level could initiate a decent increase. The next major resistance could be $1,260. If the bulls clear the $1,260 resistance, the price might rise towards $1,300. Any more gains might send the price towards the $1,350 resistance zone. An intermediate resistance could be near the $1,320 level.<\/p>\n

Fresh Drop in ETH?<\/h2>\n

If ethereum fails to climb above the $1,220 resistance, it could start another bearish wave. An initial support on the downside is near the $1,200 level.<\/p>\n

The next major support is near the $1,190 level or the 50% Fib retracement level of the recent increase from the $1,150 swing low to $1,230 high. A clear downside break below $1,190 might push the price lower towards the $1,150 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 losing momentum in the bullish zone.<\/p>\n

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

Major Support Level \u2013 $1,190<\/p>\n

Major Resistance Level \u2013 $1,220<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum is facing resistance above $1,220 against the US Dollar. ETH could start another decline if it fails to stay above $1,200 and the 100 hourly SMA.<\/em><\/p>\n

Ethereum started an upside correction above the $1,180 resistance zone.
\nThe price is now trading above $1,200 and the 100 hourly simple moving average.
\nThere is a short-term contracting triangle with resistance near $1,220 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another upward move if there is a wave above the $1,220 resistance.<\/p>\n

Ethereum Price Eyes Recovery<\/h2>\n

Ethereum price found support near the $1,150 zone and started a recovery wave. ETH was able to clear the $1,180 and $1,190 levels. The price even climbed above the $1,200 level and the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n

A high was formed near $1,230 before the price started a consolidation phase. Ether price is now trading near the 23.6% Fib retracement level of the recent increase from the $1,150 swing low to $1,230 high.<\/p>\n

The price is now trading above $1,200 and the 100 hourly simple moving average. There is also a short-term contracting triangle with resistance near $1,220 on the hourly chart of ETH\/USD. The first major resistance is near the $1,220 level.<\/p>\n

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

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

A clear upside break above the $1,220 resistance<\/a> and then a move above the $1,230 level could initiate a decent increase. The next major resistance could be $1,260. If the bulls clear the $1,260 resistance, the price might rise towards $1,300. Any more gains might send the price towards the $1,350 resistance zone. An intermediate resistance could be near the $1,320 level.<\/p>\n

Fresh Drop in ETH?<\/h2>\n

If ethereum fails to climb above the $1,220 resistance, it could start another bearish wave. An initial support on the downside is near the $1,200 level.<\/p>\n

The next major support is near the $1,190 level or the 50% Fib retracement level of the recent increase from the $1,150 swing low to $1,230 high. A clear downside break below $1,190 might push the price lower towards the $1,150 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 losing momentum in the bullish zone.<\/p>\n

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

Major Support Level \u2013 $1,190<\/p>\n

Major Resistance Level \u2013 $1,220<\/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-14465","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\/14465","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=14465"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/14465\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=14465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=14465"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=14465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}