Ethereum declined below the $1,150 zone against the US Dollar. ETH is now at a risk of more losses if it stays below the key $1,200 pivot zone.<\/p>\n
Ethereum started a fresh decline below the $1,220 and $1,200 levels.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere is a connecting trend line in place with support at $1,130 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline further is a clear move below the $1,120 support zone.<\/p>\n
Ethereum Price Remains At Risk<\/p>\n
Ethereum remained in a bearish zone below the $1,280 and $1,250 resistance levels. ETH started a fresh decline and traded below the key $1,200 support zone.<\/p>\n
The decline gained pace below the $1,180 level and the 100 hourly simple moving average. As a result, the bears were able to push the price below the $1,150 support. A low is formed near $1,132 and the price is now consolidating losses.<\/p>\n
Ether is now trading well below $1,200 and the 100 hourly simple moving average. There is also a connecting trend line in place with support at $1,130 on the hourly chart of ETH\/USD.<\/p>\n
An immediate resistance on the upside is near the $1,155 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,235 swing high to $1,132 low. The next major resistance is near the $1,175 zone. The first major hurdle is near the $1,180 level and the 100 hourly simple moving average.<\/p>\n
The 50% Fib retracement level of the recent decline from the $1,235 swing high to $1,132 low is also near $1,180. A close above the $1,180 resistance zone could start a steady increase. In the stated case, the price could clear the $1,200 resistance.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,235 level, above which the price could even rise towards the $1,280 resistance level in the near term.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,180 resistance, it could continue to move down. An initial support on the downside is near the $1,120 zone.<\/p>\n
The next major support is near the $1,080 zone. A close below the $1,080 level might spark a sharp decline. In the stated case, ether price may perhaps decline towards the $1,000 level.<\/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 $1,120<\/p>\n
Major Resistance Level \u2013 $1,180<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum declined below the $1,150 zone against the US Dollar. ETH is now at a risk of more losses if it stays below the key $1,200 pivot zone.<\/p>\n
Ethereum started a fresh decline below the $1,220 and $1,200 levels.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere is a connecting trend line in place with support at $1,130 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline further is a clear move below the $1,120 support zone.<\/p>\n
Ethereum Price Remains At Risk<\/p>\n
Ethereum remained in a bearish zone below the $1,280 and $1,250 resistance levels. ETH started a fresh decline and traded below the key $1,200 support zone.<\/p>\n
The decline gained pace below the $1,180 level and the 100 hourly simple moving average. As a result, the bears were able to push the price below the $1,150 support. A low is formed near $1,132 and the price is now consolidating losses.<\/p>\n
Ether is now trading well below $1,200 and the 100 hourly simple moving average. There is also a connecting trend line in place with support at $1,130 on the hourly chart of ETH\/USD.<\/p>\n
An immediate resistance on the upside is near the $1,155 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,235 swing high to $1,132 low. The next major resistance is near the $1,175 zone. The first major hurdle is near the $1,180 level and the 100 hourly simple moving average.<\/p>\n
The 50% Fib retracement level of the recent decline from the $1,235 swing high to $1,132 low is also near $1,180. A close above the $1,180 resistance zone could start a steady increase. In the stated case, the price could clear the $1,200 resistance.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,235 level, above which the price could even rise towards the $1,280 resistance level in the near term.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,180 resistance, it could continue to move down. An initial support on the downside is near the $1,120 zone.<\/p>\n
The next major support is near the $1,080 zone. A close below the $1,080 level might spark a sharp decline. In the stated case, ether price may perhaps decline towards the $1,000 level.<\/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 $1,120<\/p>\n
Major Resistance Level \u2013 $1,180<\/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-2199","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\/2199","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=2199"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2199\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2199"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}