Ethereum declined below the $1,200 zone against the US Dollar. ETH is now at a risk of more losses if it fails to stay above the $1,150 support zone.<\/p>\n
Ethereum started a fresh decline from the $1,250 and $1,280 levels.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline sharply if there is a clear move below the $1,150 support zone.<\/p>\n
Ethereum Price Struggles<\/p>\n
Ethereum failed to continue higher above the $1,250 and $1,280 resistance levels. ETH formed a high near $1,281 and started a fresh decline.<\/p>\n
There was a clear move below the $1,220 and $1,200 support levels. Ether price declined below the 23.6% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. It is now trading below $1,200 and the 100 hourly simple moving average.<\/p>\n
Ether is also consolidating near the 50% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. An immediate resistance on the upside is near the $1,200 level.<\/p>\n
Besides, there is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH\/USD. \u00a0The next major resistance is near the $1,250 zone. A close above the $1,250 resistance zone could start a steady increase. In the stated case, the price could clear the $1,280 resistance.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,350 level, above which the price could even rise towards the $1,440 resistance level in the near term.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,200 resistance, it could continue to move down. An initial support on the downside is near the $1,150 zone.<\/p>\n
The next major support is near the $1,120 zone. A close below the $1,120 level might put a lot of pressure on the bulls. In the stated case, ether price may perhaps decline towards the $1,050 level or even $1,000 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 well below the 50 level.<\/p>\n
Major Support Level \u2013 $1,150<\/p>\n
Major Resistance Level \u2013 $1,200<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum declined below the $1,200 zone against the US Dollar. ETH is now at a risk of more losses if it fails to stay above the $1,150 support zone.<\/p>\n
Ethereum started a fresh decline from the $1,250 and $1,280 levels.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline sharply if there is a clear move below the $1,150 support zone.<\/p>\n
Ethereum Price Struggles<\/p>\n
Ethereum failed to continue higher above the $1,250 and $1,280 resistance levels. ETH formed a high near $1,281 and started a fresh decline.<\/p>\n
There was a clear move below the $1,220 and $1,200 support levels. Ether price declined below the 23.6% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. It is now trading below $1,200 and the 100 hourly simple moving average.<\/p>\n
Ether is also consolidating near the 50% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. An immediate resistance on the upside is near the $1,200 level.<\/p>\n
Besides, there is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH\/USD. \u00a0The next major resistance is near the $1,250 zone. A close above the $1,250 resistance zone could start a steady increase. In the stated case, the price could clear the $1,280 resistance.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,350 level, above which the price could even rise towards the $1,440 resistance level in the near term.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,200 resistance, it could continue to move down. An initial support on the downside is near the $1,150 zone.<\/p>\n
The next major support is near the $1,120 zone. A close below the $1,120 level might put a lot of pressure on the bulls. In the stated case, ether price may perhaps decline towards the $1,050 level or even $1,000 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 well below the 50 level.<\/p>\n
Major Support Level \u2013 $1,150<\/p>\n
Major Resistance Level \u2013 $1,200<\/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-2118","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\/2118","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=2118"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2118\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2118"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}