{"id":22326,"date":"2023-04-21T12:52:36","date_gmt":"2023-04-21T16:52:36","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=22326"},"modified":"2023-04-21T12:52:36","modified_gmt":"2023-04-21T16:52:36","slug":"ethereum-price-hesitates-but-this-trend-line-might-trigger-fresh-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/04\/21\/ethereum-price-hesitates-but-this-trend-line-might-trigger-fresh-increase\/","title":{"rendered":"Ethereum Price Hesitates But This Trend Line Might Trigger Fresh Increase"},"content":{"rendered":"

Ethereum price extended its decline below $1,950 against the US Dollar. ETH could start a fresh increase if it clears the $1,960 and $2,000 resistance levels.<\/em><\/p>\n

Ethereum traded further lower below the $1,950 support.
\nThe price is trading below $1,960 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,950 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if it clears the $1,950 and $1,960 levels.<\/p>\n

Ethereum Price Consolidates Losses<\/h2>\n

Ethereum\u2019s price started a fresh decline from the $2,125 resistance zone. ETH gained bearish momentum after it broke the $2,000 support, similar to Bitcoin<\/a>.<\/p>\n

The bears even pushed the price below the $1,950 support. A low is formed near $1,910 and the price is now consolidating losses. Ether is now trading below $1,960 and the 100-hourly Simple Moving Average<\/a>. Immediate resistance is near the $1,950 zone.<\/p>\n

There is also a key bearish trend line forming with resistance near $1,950 on the hourly chart of ETH\/USD. The 23.6% Fib retracement level of the key decline from the $2,124 swing high to the $1,910 low is also just above the trend line.<\/p>\n

An upside break above the trend line resistance and then $1,960 might send Ethereum toward $2,000. The next major resistance is near the $2,020 zone or the 50% Fib retracement level of the key decline from the $2,124 swing high to the $1,910 low. A close above the $2,020 resistance zone could start a fresh increase.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

In the stated case, the price could rise toward the $2,080 resistance. Any more gains could send Ether toward the $2,125 resistance in the near term.<\/p>\n

More Losses in ETH?<\/h2>\n

If Ethereum fails to clear the $1,95s0 resistance, it could continue to move down. Initial support on the downside is near the $1,920 level or the recent low.<\/p>\n

The next major support is near the $1,900 zone, below which ether price might gain bearish momentum. In the stated case, the price might decline toward $1,860. Any more losses may perhaps send the price toward $1,820 in the coming days.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is below the 50 level.<\/p>\n

Major Support Level \u2013 $1,920<\/p>\n

Major Resistance Level \u2013 $1,960<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price extended its decline below $1,950 against the US Dollar. ETH could start a fresh increase if it clears the $1,960 and $2,000 resistance levels.<\/em><\/p>\n

Ethereum traded further lower below the $1,950 support.
\nThe price is trading below $1,960 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,950 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if it clears the $1,950 and $1,960 levels.<\/p>\n

Ethereum Price Consolidates Losses<\/h2>\n

Ethereum\u2019s price started a fresh decline from the $2,125 resistance zone. ETH gained bearish momentum after it broke the $2,000 support, similar to Bitcoin<\/a>.<\/p>\n

The bears even pushed the price below the $1,950 support. A low is formed near $1,910 and the price is now consolidating losses. Ether is now trading below $1,960 and the 100-hourly Simple Moving Average<\/a>. Immediate resistance is near the $1,950 zone.<\/p>\n

There is also a key bearish trend line forming with resistance near $1,950 on the hourly chart of ETH\/USD. The 23.6% Fib retracement level of the key decline from the $2,124 swing high to the $1,910 low is also just above the trend line.<\/p>\n

An upside break above the trend line resistance and then $1,960 might send Ethereum toward $2,000. The next major resistance is near the $2,020 zone or the 50% Fib retracement level of the key decline from the $2,124 swing high to the $1,910 low. A close above the $2,020 resistance zone could start a fresh increase.<\/p>\n

<\/a><\/p>\n

Source: ETHUSD on TradingView.com<\/a><\/p>\n

In the stated case, the price could rise toward the $2,080 resistance. Any more gains could send Ether toward the $2,125 resistance in the near term.<\/p>\n

More Losses in ETH?<\/h2>\n

If Ethereum fails to clear the $1,95s0 resistance, it could continue to move down. Initial support on the downside is near the $1,920 level or the recent low.<\/p>\n

The next major support is near the $1,900 zone, below which ether price might gain bearish momentum. In the stated case, the price might decline toward $1,860. Any more losses may perhaps send the price toward $1,820 in the coming days.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is below the 50 level.<\/p>\n

Major Support Level \u2013 $1,920<\/p>\n

Major Resistance Level \u2013 $1,960<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-22326","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\/22326","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=22326"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22326\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=22326"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=22326"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=22326"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}