{"id":23775,"date":"2023-05-11T04:52:51","date_gmt":"2023-05-11T08:52:51","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=23775"},"modified":"2023-05-11T04:52:51","modified_gmt":"2023-05-11T08:52:51","slug":"ethereum-price-see-liftoff-if-its-able-to-hold-one-crucial-level","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/11\/ethereum-price-see-liftoff-if-its-able-to-hold-one-crucial-level\/","title":{"rendered":"Ethereum Price See \u201cLiftoff\u201d if It\u2019s Able to Hold One Crucial Level"},"content":{"rendered":"

Ethereum price is struggling to clear the $1,850 and $1,880 resistance levels against the US Dollar. ETH could start a decent increase unless there is a close below $1,800.<\/em><\/p>\n

Ethereum is currently moving lower from the $1,880 resistance zone.
\nThe price is trading below $1,850 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if there is a move above the $1,840 and $1,880 resistance levels.<\/p>\n

Ethereum Price Faces Hurdles<\/h2>\n

Ethereum\u2019s price attempted a decent increase above the $1,850 resistance zone. However, ETH faced a strong rejection near the $1,880 zone, similar to Bitcoin<\/a>.<\/p>\n

The price declined sharply below the $1,850 level. It traded as low as $1,792 before recovering to $1,865. A high is formed near $1,865 and the price is now moving lower. It traded below the 50% Fib retracement level of the upward move from the $1,792 swing low to the $1,865 high.<\/p>\n

Ether is now trading below $1,850 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD.<\/p>\n

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

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

Immediate resistance is near the $1,835 level. The next resistance sits near $1,840, above which Ethereum<\/a> could test the 100-hourly Simple Moving Average. \u00a0The main resistance is now forming near the $1,880 level. A close above the $1,880 resistance zone could start a decent increase toward the $1,920 resistance. Any more gains might send the price toward the $1,975 resistance.<\/p>\n

Downside Break in ETH?<\/h2>\n

If Ethereum fails to clear the $1,840 resistance, it could continue to move down. Initial support on the downside is near the $1,820 level or the 61.8% Fib retracement level of the upward move from the $1,792 swing low to the $1,865 high.<\/p>\n

The next major support is near the $1,800 zone. If there is a downside break and a close below $1,800, the price could decline heavily. In the stated case, the price might drop toward the $1,740 support zone. Any more losses may perhaps take the price toward the $1,650 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 below the 50 level.<\/p>\n

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

Major Resistance Level \u2013 $1,840<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is struggling to clear the $1,850 and $1,880 resistance levels against the US Dollar. ETH could start a decent increase unless there is a close below $1,800.<\/em><\/p>\n

Ethereum is currently moving lower from the $1,880 resistance zone.
\nThe price is trading below $1,850 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a decent increase if there is a move above the $1,840 and $1,880 resistance levels.<\/p>\n

Ethereum Price Faces Hurdles<\/h2>\n

Ethereum\u2019s price attempted a decent increase above the $1,850 resistance zone. However, ETH faced a strong rejection near the $1,880 zone, similar to Bitcoin<\/a>.<\/p>\n

The price declined sharply below the $1,850 level. It traded as low as $1,792 before recovering to $1,865. A high is formed near $1,865 and the price is now moving lower. It traded below the 50% Fib retracement level of the upward move from the $1,792 swing low to the $1,865 high.<\/p>\n

Ether is now trading below $1,850 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD.<\/p>\n

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

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

Immediate resistance is near the $1,835 level. The next resistance sits near $1,840, above which Ethereum<\/a> could test the 100-hourly Simple Moving Average. \u00a0The main resistance is now forming near the $1,880 level. A close above the $1,880 resistance zone could start a decent increase toward the $1,920 resistance. Any more gains might send the price toward the $1,975 resistance.<\/p>\n

Downside Break in ETH?<\/h2>\n

If Ethereum fails to clear the $1,840 resistance, it could continue to move down. Initial support on the downside is near the $1,820 level or the 61.8% Fib retracement level of the upward move from the $1,792 swing low to the $1,865 high.<\/p>\n

The next major support is near the $1,800 zone. If there is a downside break and a close below $1,800, the price could decline heavily. In the stated case, the price might drop toward the $1,740 support zone. Any more losses may perhaps take the price toward the $1,650 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 below the 50 level.<\/p>\n

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

Major Resistance Level \u2013 $1,840<\/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-23775","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\/23775","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=23775"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/23775\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=23775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=23775"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=23775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}