Ethereum is struggling below $1,100 against the US Dollar. ETH could continue lower below the $1,000 support unless there is a clear move above the $1,100 zone.<\/p>\n
Ethereum remained in a bearish zone below $1,120 and $1,100 levels.
\nThe price is now trading below $1,120 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $1,030 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline again unless there is a clear move above the $1,100 resistance zone.<\/p>\n
Ethereum Price Faces Resistance<\/p>\n
Ethereum remained in a bearish zone and extended losses below the $1,100 support zone. ETH even broke the $1,050 level to move further into a bearish zone.<\/p>\n
Finally, ether price spiked below the $1,000 level and traded as low as $997. Recently, there was a sharp upward move above the $1,050 level. The price surged above the 23.6% Fib retracement level of the downward move from the $1,235 swing high to $997 low.<\/p>\n
Besides, there was a break above a major bearish trend line with resistance near $1,030 on the hourly chart of ETH\/USD. However, the bears were active near the $1,100 resistance zone.<\/p>\n
Ether is now trading below $1,120 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,100 level. The next major resistance is near the $1,120 zone. The 50% Fib retracement level of the downward move from the $1,235 swing high to $997 low is also near $1,120. A close above the $1,120 resistance zone could start a steady increase.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
In the stated case, the price could rise towards 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 $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,045 zone.<\/p>\n
The next major support is near the $1,000 zone. A close below the $1,000 level might push ether price further lower. In the stated case, ether price may perhaps decline towards the $925 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now near the 50 level.<\/p>\n
Major Support Level \u2013 $1,045<\/p>\n
Major Resistance Level \u2013 $1,120<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum is struggling below $1,100 against the US Dollar. ETH could continue lower below the $1,000 support unless there is a clear move above the $1,100 zone.<\/p>\n
Ethereum remained in a bearish zone below $1,120 and $1,100 levels.
\nThe price is now trading below $1,120 and the 100 hourly simple moving average.
\nThere was a break above a major bearish trend line with resistance near $1,030 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline again unless there is a clear move above the $1,100 resistance zone.<\/p>\n
Ethereum Price Faces Resistance<\/p>\n
Ethereum remained in a bearish zone and extended losses below the $1,100 support zone. ETH even broke the $1,050 level to move further into a bearish zone.<\/p>\n
Finally, ether price spiked below the $1,000 level and traded as low as $997. Recently, there was a sharp upward move above the $1,050 level. The price surged above the 23.6% Fib retracement level of the downward move from the $1,235 swing high to $997 low.<\/p>\n
Besides, there was a break above a major bearish trend line with resistance near $1,030 on the hourly chart of ETH\/USD. However, the bears were active near the $1,100 resistance zone.<\/p>\n
Ether is now trading below $1,120 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,100 level. The next major resistance is near the $1,120 zone. The 50% Fib retracement level of the downward move from the $1,235 swing high to $997 low is also near $1,120. A close above the $1,120 resistance zone could start a steady increase.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
In the stated case, the price could rise towards 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 $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,045 zone.<\/p>\n
The next major support is near the $1,000 zone. A close below the $1,000 level might push ether price further lower. In the stated case, ether price may perhaps decline towards the $925 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now near the 50 level.<\/p>\n
Major Support Level \u2013 $1,045<\/p>\n
Major Resistance Level \u2013 $1,120<\/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-2392","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\/2392","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=2392"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2392\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2392"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}