{"id":15032,"date":"2022-12-30T07:06:43","date_gmt":"2022-12-30T11:06:43","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=15032"},"modified":"2022-12-30T07:06:43","modified_gmt":"2022-12-30T11:06:43","slug":"ethereum-price-signals-bearish-moves-test-of-1100-seems-possible","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2022\/12\/30\/ethereum-price-signals-bearish-moves-test-of-1100-seems-possible\/","title":{"rendered":"Ethereum Price Signals Bearish Moves, Test of $1,100 Seems Possible"},"content":{"rendered":"

Ethereum is still showing bearish signs below the $1,200 zone against the US Dollar. ETH could continue to move down below the $1,180 support zone.<\/em><\/p>\n

Ethereum is attempting a minor upside correction towards the $1,200 barrier.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,195 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair remains at a risk of a larger decline towards the $1,100 level or even $1,000.<\/p>\n

Ethereum Price Struggles<\/h2>\n

Ethereum price remained stable near the $1,180 level. ETH formed a base and started a minor upside correction from $1,180, similar to bitcoin<\/a>.<\/p>\n

The price was able to climb above the $1,185 and $1,190 levels. There was a break above a key bearish trend line with resistance near $1,195 on the hourly chart of ETH\/USD. The pair even climbed above the 23.6% Fib retracement level of the key decline from the $1,232 swing high to $1,180 low.<\/p>\n

However, the bears are active below the $1,220 level. Ether price<\/a> is now trading below $1,200 and the 100 hourly simple moving average.<\/p>\n

An immediate resistance is near the $1,205 level and the 100 hourly SMA. It is near the 50% Fib retracement level of the key decline from the $1,232 swing high to $1,180 low. The next major resistance is near the $1,212 level. The first major resistance is near $1,230.<\/p>\n

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

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

A close above the $1,230 resistance could start a decent upward move. In the stated case, the price may perhaps rise towards the $1,250 resistance. The next major resistance could be $1,265, above which the price might rise towards the $1,300 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,220 resistance, it could start another drop. An initial support on the downside is near the $1,188 level.<\/p>\n

The next major support is near the $1,180 level. A downside break below $1,180 might send the price towards the $1,120 support. Any more losses might call for a test of the $1,100 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 50 level.<\/p>\n

Major Support Level \u2013 $1,180<\/p>\n

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

<\/p>\n

Ethereum is still showing bearish signs below the $1,200 zone against the US Dollar. ETH could continue to move down below the $1,180 support zone.<\/em><\/p>\n

Ethereum is attempting a minor upside correction towards the $1,200 barrier.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,195 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair remains at a risk of a larger decline towards the $1,100 level or even $1,000.<\/p>\n

Ethereum Price Struggles<\/h2>\n

Ethereum price remained stable near the $1,180 level. ETH formed a base and started a minor upside correction from $1,180, similar to bitcoin<\/a>.<\/p>\n

The price was able to climb above the $1,185 and $1,190 levels. There was a break above a key bearish trend line with resistance near $1,195 on the hourly chart of ETH\/USD. The pair even climbed above the 23.6% Fib retracement level of the key decline from the $1,232 swing high to $1,180 low.<\/p>\n

However, the bears are active below the $1,220 level. Ether price<\/a> is now trading below $1,200 and the 100 hourly simple moving average.<\/p>\n

An immediate resistance is near the $1,205 level and the 100 hourly SMA. It is near the 50% Fib retracement level of the key decline from the $1,232 swing high to $1,180 low. The next major resistance is near the $1,212 level. The first major resistance is near $1,230.<\/p>\n

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

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

A close above the $1,230 resistance could start a decent upward move. In the stated case, the price may perhaps rise towards the $1,250 resistance. The next major resistance could be $1,265, above which the price might rise towards the $1,300 resistance zone.<\/p>\n

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

If ethereum fails to climb above the $1,220 resistance, it could start another drop. An initial support on the downside is near the $1,188 level.<\/p>\n

The next major support is near the $1,180 level. A downside break below $1,180 might send the price towards the $1,120 support. Any more losses might call for a test of the $1,100 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 50 level.<\/p>\n

Major Support Level \u2013 $1,180<\/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-15032","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\/15032","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=15032"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/15032\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=15032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=15032"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=15032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}