Ethereum is struggling below the $1,100 zone against the US Dollar. ETH could gain bearish momentum if it breaks the $1,030 support zone.<\/p>\n
Ethereum is facing resistance near the $1,100 and $1,120 levels.
\nThe price is now trading below $1,150 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,080 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline heavily if there is a clear move below the $1,030 and $1,000 levels.<\/p>\n
Ethereum Price Faces Hurdles<\/p>\n
Ethereum started a downside correction after it failed near $1,190 and $1,200. ETH corrected lower and traded below the $1,120 support zone.<\/p>\n
There was a clear move below the 23.6% Fib retracement level of the upward wave from the $880 swing low to $1,192 high. Ether price even settled below the $1,150 zone and the 100 hourly simple moving average. However, the bulls were active above the $1,030 support.<\/p>\n
Ether price stayed above the 50% Fib retracement level of the upward wave from the $880 swing low to $1,192 high. An immediate resistance on the upside is near the $1,080 level.<\/p>\n
There is also a key bearish trend line forming with resistance near $1,080 on the hourly chart of ETH\/USD. The next major resistance is near the $1,120 zone. The main resistance sits near the $1,150 level. A clear move above the $1,150 resistance zone could start a steady increase.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,200 level or the $1,192 high. Any more gains could start a move towards the $1,280 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 $1,040 zone.<\/p>\n
The next major support is near the $1,030 zone. A close below the $1,030 level might push the price below $1,000. In the stated case, ether price may perhaps decline towards the $950 level. Any more losses might call for a move towards the $880 support zone in the coming sessions.<\/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 $1,030<\/p>\n
Major Resistance Level \u2013 $1,120<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum is struggling below the $1,100 zone against the US Dollar. ETH could gain bearish momentum if it breaks the $1,030 support zone.<\/p>\n
Ethereum is facing resistance near the $1,100 and $1,120 levels.
\nThe price is now trading below $1,150 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,080 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline heavily if there is a clear move below the $1,030 and $1,000 levels.<\/p>\n
Ethereum Price Faces Hurdles<\/p>\n
Ethereum started a downside correction after it failed near $1,190 and $1,200. ETH corrected lower and traded below the $1,120 support zone.<\/p>\n
There was a clear move below the 23.6% Fib retracement level of the upward wave from the $880 swing low to $1,192 high. Ether price even settled below the $1,150 zone and the 100 hourly simple moving average. However, the bulls were active above the $1,030 support.<\/p>\n
Ether price stayed above the 50% Fib retracement level of the upward wave from the $880 swing low to $1,192 high. An immediate resistance on the upside is near the $1,080 level.<\/p>\n
There is also a key bearish trend line forming with resistance near $1,080 on the hourly chart of ETH\/USD. The next major resistance is near the $1,120 zone. The main resistance sits near the $1,150 level. A clear move above the $1,150 resistance zone could start a steady increase.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,200 level or the $1,192 high. Any more gains could start a move towards the $1,280 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 $1,040 zone.<\/p>\n
The next major support is near the $1,030 zone. A close below the $1,030 level might push the price below $1,000. In the stated case, ether price may perhaps decline towards the $950 level. Any more losses might call for a move towards the $880 support zone in the coming sessions.<\/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 $1,030<\/p>\n
Major Resistance Level \u2013 $1,120<\/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-1868","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\/1868","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=1868"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/1868\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=1868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=1868"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=1868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}