{"id":22995,"date":"2023-05-01T03:52:46","date_gmt":"2023-05-01T07:52:46","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=22995"},"modified":"2023-05-01T03:52:46","modified_gmt":"2023-05-01T07:52:46","slug":"ethereum-price-indicators-show-vulnerability-to-bigger-correction","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/01\/ethereum-price-indicators-show-vulnerability-to-bigger-correction\/","title":{"rendered":"Ethereum Price Indicators Show Vulnerability to Bigger Correction"},"content":{"rendered":"

Ethereum price started a fresh decline from the $1,940 resistance against the US Dollar. ETH retested $1,825 and is showing a few bearish signs.<\/em><\/p>\n

Ethereum struggled to settle above the $1,925 and $1,940 resistance levels.
\nThe price is trading below $1,880 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support near $1,895 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if it clears the $1,800 support zone.<\/p>\n

Ethereum Price Drops Again<\/h2>\n

Ethereum\u2019s price started a fresh increase<\/a> above the $1,850 zone. ETH struggled to settle above the $1,925 and $1,940 resistance levels, similar to Bitcoin<\/a> at $29,500.<\/p>\n

A high was formed near $1,939 and the price started a fresh decline. There was a sharp decline below the $1,900 and $1,880 levels. Besides, there was a break below a key bullish trend line with support near $1,895 on the hourly chart of ETH\/USD.<\/p>\n

A low is formed near $1,825 and the price is now consolidating losses. Ether price is now trading below $1,880 and the 100-hourly Simple Moving Average.<\/p>\n

Immediate resistance is near the $1,850 level. It is close to the 23.6% Fib retracement level of the recent decline from the $1,939 swing high to the $1,825 low. The next major resistance seems to be forming near $1,900 and the 100-hourly Simple Moving Average.<\/p>\n

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

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

The 50% Fib retracement level of the recent decline from the $1,939 swing high to the $1,825 low is also near the $1,900 level. A close above the $1,900 level might start a fresh increase. In the stated case, the price could rise toward the $1,940 resistance. Any more gains could send Ether toward the $2,000 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,900 resistance, it could continue to move down. Initial support on the downside is near the $1,825 level.<\/p>\n

The next major support is near the $1,800 zone, below which ether price might drop toward the $1,740 support zone. Any more losses may perhaps take the price toward $1,700 in the near term.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,800<\/p>\n

Major Resistance Level \u2013 $1,900<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started a fresh decline from the $1,940 resistance against the US Dollar. ETH retested $1,825 and is showing a few bearish signs.<\/em><\/p>\n

Ethereum struggled to settle above the $1,925 and $1,940 resistance levels.
\nThe price is trading below $1,880 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support near $1,895 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if it clears the $1,800 support zone.<\/p>\n

Ethereum Price Drops Again<\/h2>\n

Ethereum\u2019s price started a fresh increase<\/a> above the $1,850 zone. ETH struggled to settle above the $1,925 and $1,940 resistance levels, similar to Bitcoin<\/a> at $29,500.<\/p>\n

A high was formed near $1,939 and the price started a fresh decline. There was a sharp decline below the $1,900 and $1,880 levels. Besides, there was a break below a key bullish trend line with support near $1,895 on the hourly chart of ETH\/USD.<\/p>\n

A low is formed near $1,825 and the price is now consolidating losses. Ether price is now trading below $1,880 and the 100-hourly Simple Moving Average.<\/p>\n

Immediate resistance is near the $1,850 level. It is close to the 23.6% Fib retracement level of the recent decline from the $1,939 swing high to the $1,825 low. The next major resistance seems to be forming near $1,900 and the 100-hourly Simple Moving Average.<\/p>\n

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

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

The 50% Fib retracement level of the recent decline from the $1,939 swing high to the $1,825 low is also near the $1,900 level. A close above the $1,900 level might start a fresh increase. In the stated case, the price could rise toward the $1,940 resistance. Any more gains could send Ether toward the $2,000 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,900 resistance, it could continue to move down. Initial support on the downside is near the $1,825 level.<\/p>\n

The next major support is near the $1,800 zone, below which ether price might drop toward the $1,740 support zone. Any more losses may perhaps take the price toward $1,700 in the near term.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,800<\/p>\n

Major Resistance Level \u2013 $1,900<\/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-22995","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\/22995","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=22995"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/22995\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=22995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=22995"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=22995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}