{"id":23156,"date":"2023-05-03T04:53:16","date_gmt":"2023-05-03T08:53:16","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=23156"},"modified":"2023-05-03T04:53:16","modified_gmt":"2023-05-03T08:53:16","slug":"ethereum-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-1900","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/03\/ethereum-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-1900\/","title":{"rendered":"Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1,900"},"content":{"rendered":"

Ethereum price started an upside correction above $1,850 against the US Dollar. ETH could start another decline if it continues to struggle near $1,900.<\/em><\/p>\n

Ethereum is attempting an upside correction above $1,850.
\nThe price is trading below $1,880 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance near $1,870 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if it stays below $1,880 and $1,900.<\/p>\n

Ethereum Price Faces Resistance<\/h2>\n

Ethereum\u2019s price managed to stay above the $1,800 support zone. ETH formed a base and recently started an upside correction above $1,850, similar to Bitcoin<\/a> at $28,000.<\/p>\n

The price was able to climb above the 23.6% Fib retracement level of the key drop from the $1,940 swing high to the $1,805 low. However, the price struggled to surpass the $1,880 resistance zone and failed to stay above the 100-hourly Simple Moving Average.<\/p>\n

Ether is now trading below $1,880 and the 100-hourly Simple Moving Average<\/a>. It seems to be facing hurdles near the 50% Fib retracement level of the key drop from the $1,940 swing high to the $1,805 low.<\/p>\n

There is also a major bearish trend line forming with resistance near $1,870 on the hourly chart of ETH\/USD. The next major resistance seems to be forming near $1,900. A close above the $1,900 level might start a fresh increase. In the stated case, the price could rise toward the $1,950 resistance.<\/p>\n

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

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

Any more gains could send Ether toward the $2,000 resistance. In the stated case, Ether could even attempt a move toward the $2,000 zone, above which the price could gain bullish momentum and even test $2,120.<\/p>\n

Fresh Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $1,880 resistance, it could start another bearish wave. Initial support on the downside is near the $1,840 level.<\/p>\n

The next major support is near the $1,800 zone or the last swing low, below which ether price might drop toward the $1,765 support zone. Any more losses may perhaps take the price toward the $1,720 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,840<\/p>\n

Major Resistance Level \u2013 $1,880<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started an upside correction above $1,850 against the US Dollar. ETH could start another decline if it continues to struggle near $1,900.<\/em><\/p>\n

Ethereum is attempting an upside correction above $1,850.
\nThe price is trading below $1,880 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance near $1,870 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if it stays below $1,880 and $1,900.<\/p>\n

Ethereum Price Faces Resistance<\/h2>\n

Ethereum\u2019s price managed to stay above the $1,800 support zone. ETH formed a base and recently started an upside correction above $1,850, similar to Bitcoin<\/a> at $28,000.<\/p>\n

The price was able to climb above the 23.6% Fib retracement level of the key drop from the $1,940 swing high to the $1,805 low. However, the price struggled to surpass the $1,880 resistance zone and failed to stay above the 100-hourly Simple Moving Average.<\/p>\n

Ether is now trading below $1,880 and the 100-hourly Simple Moving Average<\/a>. It seems to be facing hurdles near the 50% Fib retracement level of the key drop from the $1,940 swing high to the $1,805 low.<\/p>\n

There is also a major bearish trend line forming with resistance near $1,870 on the hourly chart of ETH\/USD. The next major resistance seems to be forming near $1,900. A close above the $1,900 level might start a fresh increase. In the stated case, the price could rise toward the $1,950 resistance.<\/p>\n

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

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

Any more gains could send Ether toward the $2,000 resistance. In the stated case, Ether could even attempt a move toward the $2,000 zone, above which the price could gain bullish momentum and even test $2,120.<\/p>\n

Fresh Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $1,880 resistance, it could start another bearish wave. Initial support on the downside is near the $1,840 level.<\/p>\n

The next major support is near the $1,800 zone or the last swing low, below which ether price might drop toward the $1,765 support zone. Any more losses may perhaps take the price toward the $1,720 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,840<\/p>\n

Major Resistance Level \u2013 $1,880<\/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-23156","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\/23156","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=23156"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/23156\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=23156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=23156"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=23156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}