Ethereum declined below the $1,120 support against the US Dollar. ETH is now at a risk of more losses if it stays below the key $1,150 resistance.<\/p>\n
Ethereum remained in a bearish zone below $1,200 and $1,150 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 $1,100 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline further if there is a clear move below the $1,050 support zone.<\/p>\n
Ethereum Price Turns Red<\/p>\n
Ethereum remained in a bearish zone and extended losses below the $1,150 support zone. ETH failed to stay above the $1,120 support zone and moved further into a bearish zone.<\/p>\n
The price even settled below the $1,000 support zone and tested the $1,075 zone. A low is formed near $1,076 and the price is now consolidating losses. It is trading well below $1,150 and the 100 hourly simple moving average.<\/p>\n
An immediate resistance on the upside is near the $1,100 level. There is also a key bearish trend line forming with resistance near $1,100 on the hourly chart of ETH\/USD. The trend line is near the 23.6% Fib retracement level of the downward move from the $1,235 swing high to $1,076 low.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,150 zone. The 50% Fib retracement level of the downward move from the $1,235 swing high to $1,076 low is also near $1,150. A close above the $1,150 resistance zone could start a steady increase. In the stated case, the price could clear the $1,200 resistance. Any more gains might send the price towards the $1,235 high.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,150 resistance, it could continue to move down. An initial support on the downside is near the $1,075 zone.<\/p>\n
The next major support is near the $1,050 zone. A close below the $1,050 level might push ether price further lower. 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 $1,050<\/p>\n
Major Resistance Level \u2013 $1,150<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum declined below the $1,120 support against the US Dollar. ETH is now at a risk of more losses if it stays below the key $1,150 resistance.<\/p>\n
Ethereum remained in a bearish zone below $1,200 and $1,150 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 $1,100 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline further if there is a clear move below the $1,050 support zone.<\/p>\n
Ethereum Price Turns Red<\/p>\n
Ethereum remained in a bearish zone and extended losses below the $1,150 support zone. ETH failed to stay above the $1,120 support zone and moved further into a bearish zone.<\/p>\n
The price even settled below the $1,000 support zone and tested the $1,075 zone. A low is formed near $1,076 and the price is now consolidating losses. It is trading well below $1,150 and the 100 hourly simple moving average.<\/p>\n
An immediate resistance on the upside is near the $1,100 level. There is also a key bearish trend line forming with resistance near $1,100 on the hourly chart of ETH\/USD. The trend line is near the 23.6% Fib retracement level of the downward move from the $1,235 swing high to $1,076 low.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next major resistance is near the $1,150 zone. The 50% Fib retracement level of the downward move from the $1,235 swing high to $1,076 low is also near $1,150. A close above the $1,150 resistance zone could start a steady increase. In the stated case, the price could clear the $1,200 resistance. Any more gains might send the price towards the $1,235 high.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,150 resistance, it could continue to move down. An initial support on the downside is near the $1,075 zone.<\/p>\n
The next major support is near the $1,050 zone. A close below the $1,050 level might push ether price further lower. 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 $1,050<\/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-2298","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\/2298","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=2298"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2298\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2298"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2298"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}