{"id":24141,"date":"2023-05-16T04:53:17","date_gmt":"2023-05-16T08:53:17","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=24141"},"modified":"2023-05-16T04:53:17","modified_gmt":"2023-05-16T08:53:17","slug":"ethereum-price-recovery-could-soon-fade-if-eth-fails-to-surpass-1850","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/16\/ethereum-price-recovery-could-soon-fade-if-eth-fails-to-surpass-1850\/","title":{"rendered":"Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,850"},"content":{"rendered":"

Ethereum price is struggling below the $1,840 resistance against the US Dollar. ETH could face bearish moves if there is a break below the $1,800 support.<\/em><\/p>\n

Ethereum is currently facing a strong barrier near the $1,850 resistance zone.
\nThe price is trading below $1,820 and the 100-hourly Simple Moving Average.
\nThere is a key rising channel forming with support near $1,800 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a steady decline if there is a clear move below the $1,800 support.<\/p>\n

Ethereum Price Faces Uphill Task<\/h2>\n

Ethereum\u2019s price started a decent upward move from the $1,750 support zone. ETH climbed higher above the $1,800 and $1,820 resistance levels, similar to Bitcoin<\/a>.<\/p>\n

However, the bears were active near the $1,840 and $1,850 resistance levels. A high is formed near $1,847 and the price is now moving lower. There was a drop below the $1,825 and $1,820 levels. The price declined below the 50% Fib retracement level of the upward move from the $1,785 swing low to the $1,847 high.<\/p>\n

Ether price is now trading below $1,820 and the 100-hourly Simple Moving Average<\/a>. There is also a key rising channel forming with support near $1,800 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 $1,820 level or the 100 hourly SMA. The next resistance sits near $1,850, above which Ethereum could gain bullish momentum and rise toward $1,920. \u00a0If there is a move above the $1,920 resistance level, the price might rise toward the $2,000 level. Any more gains above the $2,000 resistance zone could start a decent increase toward the $2,050 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,850 resistance, it could continue to move down. Initial support on the downside is near the $1,800 level and the 76.4% Fib retracement level of the upward move from the $1,785 swing low to the $1,847 high.<\/p>\n

The next major support is near the $1,790 zone. If there is a clear move below the $1,790 support, the price could gain bearish momentum. 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 slowly 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 $1,850<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is struggling below the $1,840 resistance against the US Dollar. ETH could face bearish moves if there is a break below the $1,800 support.<\/em><\/p>\n

Ethereum is currently facing a strong barrier near the $1,850 resistance zone.
\nThe price is trading below $1,820 and the 100-hourly Simple Moving Average.
\nThere is a key rising channel forming with support near $1,800 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a steady decline if there is a clear move below the $1,800 support.<\/p>\n

Ethereum Price Faces Uphill Task<\/h2>\n

Ethereum\u2019s price started a decent upward move from the $1,750 support zone. ETH climbed higher above the $1,800 and $1,820 resistance levels, similar to Bitcoin<\/a>.<\/p>\n

However, the bears were active near the $1,840 and $1,850 resistance levels. A high is formed near $1,847 and the price is now moving lower. There was a drop below the $1,825 and $1,820 levels. The price declined below the 50% Fib retracement level of the upward move from the $1,785 swing low to the $1,847 high.<\/p>\n

Ether price is now trading below $1,820 and the 100-hourly Simple Moving Average<\/a>. There is also a key rising channel forming with support near $1,800 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 $1,820 level or the 100 hourly SMA. The next resistance sits near $1,850, above which Ethereum could gain bullish momentum and rise toward $1,920. \u00a0If there is a move above the $1,920 resistance level, the price might rise toward the $2,000 level. Any more gains above the $2,000 resistance zone could start a decent increase toward the $2,050 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,850 resistance, it could continue to move down. Initial support on the downside is near the $1,800 level and the 76.4% Fib retracement level of the upward move from the $1,785 swing low to the $1,847 high.<\/p>\n

The next major support is near the $1,790 zone. If there is a clear move below the $1,790 support, the price could gain bearish momentum. 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 slowly 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 $1,850<\/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-24141","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\/24141","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=24141"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24141\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24141"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}