Ethereum started an upside correction above the $1,050 zone against the US Dollar. ETH traded close to the $1,200 resistance zone before it faced sellers.<\/p>\n
Ethereum started an upside correction above the $1,100 resistance zone.
\nThe price is now trading below $1,150 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,180 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could revisit the key $1,050 and $1,040 support levels in the near term.<\/p>\n
Ethereum Price Corrects Lower<\/p>\n
Ethereum was able to climb above the $1,050 resistance zone. ETH even recovered above the $1,120 resistance zone and settled above the 100 hourly simple moving average.<\/p>\n
Finally, the price surpassed the $1,150 resistance and traded close to the $1,200 level. A high was formed near $1,192 before the bears appeared. Ether price failed to continue higher and traded below the $1,150 level.<\/p>\n
There was a break below the 23.6% Fib retracement level of the upward move from the $880 swing low to $1,192 high. Besides, there was a break below a key bullish trend line with support near $1,180 on the hourly chart of ETH\/USD.<\/p>\n
Ether price is now trading below $1,150 and the 100 hourly simple moving average. An immediate resistance is near the $1,120 level. The next major resistance is near the $1,150 zone. A clear move above the $1,150 resistance zone may perhaps push the price towards $1,200.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,250 level. Any more gains could start a move towards the $1,320 resistance in the near term.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,060 zone.<\/p>\n
The next major support is near the $1,050 zone. It is near the 50% Fib retracement level of the upward move from the $880 swing low to $1,192 high. Any more losses might call for a move towards the $1,000 support zone.<\/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 below the 50 level.<\/p>\n
Major Support Level \u2013 $1,050<\/p>\n
Major Resistance Level \u2013 $1,150<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum started an upside correction above the $1,050 zone against the US Dollar. ETH traded close to the $1,200 resistance zone before it faced sellers.<\/p>\n
Ethereum started an upside correction above the $1,100 resistance zone.
\nThe price is now trading below $1,150 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,180 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could revisit the key $1,050 and $1,040 support levels in the near term.<\/p>\n
Ethereum Price Corrects Lower<\/p>\n
Ethereum was able to climb above the $1,050 resistance zone. ETH even recovered above the $1,120 resistance zone and settled above the 100 hourly simple moving average.<\/p>\n
Finally, the price surpassed the $1,150 resistance and traded close to the $1,200 level. A high was formed near $1,192 before the bears appeared. Ether price failed to continue higher and traded below the $1,150 level.<\/p>\n
There was a break below the 23.6% Fib retracement level of the upward move from the $880 swing low to $1,192 high. Besides, there was a break below a key bullish trend line with support near $1,180 on the hourly chart of ETH\/USD.<\/p>\n
Ether price is now trading below $1,150 and the 100 hourly simple moving average. An immediate resistance is near the $1,120 level. The next major resistance is near the $1,150 zone. A clear move above the $1,150 resistance zone may perhaps push the price towards $1,200.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,250 level. Any more gains could start a move towards the $1,320 resistance in the near term.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,060 zone.<\/p>\n
The next major support is near the $1,050 zone. It is near the 50% Fib retracement level of the upward move from the $880 swing low to $1,192 high. Any more losses might call for a move towards the $1,000 support zone.<\/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 below the 50 level.<\/p>\n
Major Support Level \u2013 $1,050<\/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-1774","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\/1774","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=1774"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/1774\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=1774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=1774"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=1774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}