Ethereum dived towards the $880 support against the US Dollar. ETH is recovering and eyeing an upside break above the $1,150 resistance zone.<\/p>\n
Ethereum started a decent recovery wave from the $880 support zone.
\nThe price is now trading above $1,000 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $980 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if it clears the key $1,150 resistance zone.<\/p>\n
Ethereum Price Faces Hurdles<\/p>\n
Ethereum remained in a bearish zone below the $1,050 level. ETH extended losses and traded below the $1,000 support. There was a sharp decline below the $950 level.<\/p>\n
The price tested the $880 support before the bulls appeared. A low was formed near $880 and the price started a decent increase. There was a move above the $950 and $960 resistance levels. Ether cleared the 50% Fib retracement level of the downward move from the $1,256 swing high to $880 low.<\/p>\n
Besides, there was a break above a major bearish trend line with resistance near $980 on the hourly chart of ETH\/USD. The pair even climbed above the $1,100 level.<\/p>\n
However, the bears appeared near the $1,150 resistance. Ether failed to clear the 76.4% Fib retracement level of the downward move from the $1,256 swing high to $880 low. The price is now consolidating near the $1,080 level and the 100 hourly simple moving average.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
An immediate resistance is near the $1,100 level. The next major resistance is near the $1,150 zone. A clear move above the $1,150 resistance zone may perhaps start a decent upward move. The next major resistance is near the $1,255 level. Any more gains could start a move towards the $1,320 resistance.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,150 resistance, it could start a fresh decline. An initial support on the downside is near the $1,040 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 revisit the $880 support zone in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,000<\/p>\n
Major Resistance Level \u2013 $1,150<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum dived towards the $880 support against the US Dollar. ETH is recovering and eyeing an upside break above the $1,150 resistance zone.<\/p>\n
Ethereum started a decent recovery wave from the $880 support zone.
\nThe price is now trading above $1,000 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $980 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if it clears the key $1,150 resistance zone.<\/p>\n
Ethereum Price Faces Hurdles<\/p>\n
Ethereum remained in a bearish zone below the $1,050 level. ETH extended losses and traded below the $1,000 support. There was a sharp decline below the $950 level.<\/p>\n
The price tested the $880 support before the bulls appeared. A low was formed near $880 and the price started a decent increase. There was a move above the $950 and $960 resistance levels. Ether cleared the 50% Fib retracement level of the downward move from the $1,256 swing high to $880 low.<\/p>\n
Besides, there was a break above a major bearish trend line with resistance near $980 on the hourly chart of ETH\/USD. The pair even climbed above the $1,100 level.<\/p>\n
However, the bears appeared near the $1,150 resistance. Ether failed to clear the 76.4% Fib retracement level of the downward move from the $1,256 swing high to $880 low. The price is now consolidating near the $1,080 level and the 100 hourly simple moving average.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
An immediate resistance is near the $1,100 level. The next major resistance is near the $1,150 zone. A clear move above the $1,150 resistance zone may perhaps start a decent upward move. The next major resistance is near the $1,255 level. Any more gains could start a move towards the $1,320 resistance.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,150 resistance, it could start a fresh decline. An initial support on the downside is near the $1,040 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 revisit the $880 support zone in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,000<\/p>\n
Major Resistance Level \u2013 $1,150<\/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-1604","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\/1604","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=1604"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/1604\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=1604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=1604"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=1604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}