{"id":24521,"date":"2023-05-24T03:58:31","date_gmt":"2023-05-24T07:58:31","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=24521"},"modified":"2023-05-24T03:58:31","modified_gmt":"2023-05-24T07:58:31","slug":"ethereum-price-trims-gains-and-could-revisit-key-range-support","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/24\/ethereum-price-trims-gains-and-could-revisit-key-range-support\/","title":{"rendered":"Ethereum Price Trims Gains and Could Revisit Key Range Support"},"content":{"rendered":"

Ethereum price failed to surpass $1,880 and declined against the US Dollar. ETH is struggling and might continue lower toward the $1,790 support.<\/em><\/p>\n

Ethereum is currently moving lower from the $1,880 resistance zone.
\nThe price is trading below $1,830 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could accelerate lower toward the $1,790 and $1,780 levels.<\/p>\n

Ethereum Price Fails Again<\/h2>\n

Ethereum\u2019s price attempted a fresh increase above the $1,850 resistance zone. However, ETH bears remained active near the $1,880 level and the price started another decline, similar to Bitcoin<\/a>.<\/p>\n

The price declined from the $1,873 high and traded below the $1,850 support. There was a clear move below the 50% Fib retracement level of the upward move from the $1,792 swing low to the $1,873 high. Ether price is now trading below $1,830 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

There is also a connecting bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD. Immediate resistance is near the $1,830 zone and the 100-hourly Simple Moving Average.<\/p>\n\n

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

The first major resistance is near the $1,840 level and the trend line. A close above the $1,840 resistance could send Ether toward $1,880. The next resistance sits near $1,920, above which Ethereum could rise toward $2,000. Any more gains above the $2,000 resistance zone could start a steady increase toward the $2,120 resistance.<\/p>\n

More Losses 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 $1,810 level and the 76.4% Fib retracement level of the upward move from the $1,792 swing low to the $1,873 high.<\/p>\n

The next major support is near the $1,790 zone. The main support sits at $1,770. If there is a close below the $1,770 support, the price could gain bearish momentum. In the stated case, the price might drop toward the $1,720 support zone. Any more losses may perhaps spark a move toward the $1,650 support zone in the coming sessions.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is 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 $1,775<\/p>\n

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

<\/p>\n

Ethereum price failed to surpass $1,880 and declined against the US Dollar. ETH is struggling and might continue lower toward the $1,790 support.<\/em><\/p>\n

Ethereum is currently moving lower from the $1,880 resistance zone.
\nThe price is trading below $1,830 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could accelerate lower toward the $1,790 and $1,780 levels.<\/p>\n

Ethereum Price Fails Again<\/h2>\n

Ethereum\u2019s price attempted a fresh increase above the $1,850 resistance zone. However, ETH bears remained active near the $1,880 level and the price started another decline, similar to Bitcoin<\/a>.<\/p>\n

The price declined from the $1,873 high and traded below the $1,850 support. There was a clear move below the 50% Fib retracement level of the upward move from the $1,792 swing low to the $1,873 high. Ether price is now trading below $1,830 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

There is also a connecting bearish trend line forming with resistance near $1,840 on the hourly chart of ETH\/USD. Immediate resistance is near the $1,830 zone and the 100-hourly Simple Moving Average.<\/p>\n

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

The first major resistance is near the $1,840 level and the trend line. A close above the $1,840 resistance could send Ether toward $1,880. The next resistance sits near $1,920, above which Ethereum could rise toward $2,000. Any more gains above the $2,000 resistance zone could start a steady increase toward the $2,120 resistance.<\/p>\n

More Losses 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 $1,810 level and the 76.4% Fib retracement level of the upward move from the $1,792 swing low to the $1,873 high.<\/p>\n

The next major support is near the $1,790 zone. The main support sits at $1,770. If there is a close below the $1,770 support, the price could gain bearish momentum. In the stated case, the price might drop toward the $1,720 support zone. Any more losses may perhaps spark a move toward the $1,650 support zone in the coming sessions.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is 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 $1,775<\/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-24521","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\/24521","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=24521"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24521\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24521"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}