{"id":23503,"date":"2023-05-08T03:54:08","date_gmt":"2023-05-08T07:54:08","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=23503"},"modified":"2023-05-08T03:54:08","modified_gmt":"2023-05-08T07:54:08","slug":"ethereum-price-just-signaled-sell-and-its-vulnerable-to-more-losses","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/08\/ethereum-price-just-signaled-sell-and-its-vulnerable-to-more-losses\/","title":{"rendered":"Ethereum Price Just Signaled \u201cSell\u201d And It\u2019s Vulnerable to More Losses"},"content":{"rendered":"

Ethereum price started a fresh decline below the $1,920 level against the US Dollar. ETH could extend losses if there is a clear move below the $1,840 support.<\/em><\/p>\n

Ethereum is moving lower from the $1,940 resistance zone.
\nThe price is trading below $1,900 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance near $1,900 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if there is a clear move below $1,840.<\/p>\n

Ethereum Price Takes Hit<\/h2>\n

Ethereum\u2019s price struggled to clear the $2,000 resistance zone and started a fresh decline. ETH traded below the $1,920 and $1,900 support levels to enter a bearish zone, similar to Bitcoin<\/a>.<\/p>\n

The price even traded close to $1,840. A low is formed near $1,843 and the price is now consolidating losses. It is trading below $1,900 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $1,900 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $1,890 level. It is close to the 50% Fib retracement level of the recent decline from the $1,936 high to the $1,843 low.<\/p>\n

The next major resistance seems to be forming near the trend line and $1,900. The main resistance<\/a> is near $1,915 or the 76.4% Fib retracement level of the recent decline from the $1,936 high to the $1,843 low. A close above the $1,915 resistance zone could send Ethereum toward the $1,940 resistance.<\/p>\n

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

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

Any more gains might start a decent increase toward the $2,000 resistance. In the stated case, the price may even rise toward the $2,050 resistance. The next key resistance is near $2,120.<\/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 $1,840 level or the recent low.<\/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 the $1,700 level 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 now below the 50 level.<\/p>\n

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

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

<\/p>\n

Ethereum price started a fresh decline below the $1,920 level against the US Dollar. ETH could extend losses if there is a clear move below the $1,840 support.<\/em><\/p>\n

Ethereum is moving lower from the $1,940 resistance zone.
\nThe price is trading below $1,900 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance near $1,900 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if there is a clear move below $1,840.<\/p>\n

Ethereum Price Takes Hit<\/h2>\n

Ethereum\u2019s price struggled to clear the $2,000 resistance zone and started a fresh decline. ETH traded below the $1,920 and $1,900 support levels to enter a bearish zone, similar to Bitcoin<\/a>.<\/p>\n

The price even traded close to $1,840. A low is formed near $1,843 and the price is now consolidating losses. It is trading below $1,900 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $1,900 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $1,890 level. It is close to the 50% Fib retracement level of the recent decline from the $1,936 high to the $1,843 low.<\/p>\n

The next major resistance seems to be forming near the trend line and $1,900. The main resistance<\/a> is near $1,915 or the 76.4% Fib retracement level of the recent decline from the $1,936 high to the $1,843 low. A close above the $1,915 resistance zone could send Ethereum toward the $1,940 resistance.<\/p>\n

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

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

Any more gains might start a decent increase toward the $2,000 resistance. In the stated case, the price may even rise toward the $2,050 resistance. The next key resistance is near $2,120.<\/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 $1,840 level or the recent low.<\/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 the $1,700 level 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 now below the 50 level.<\/p>\n

Major Support Level \u2013 $1,840<\/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-23503","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\/23503","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=23503"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/23503\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=23503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=23503"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=23503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}