{"id":24577,"date":"2023-05-25T04:52:44","date_gmt":"2023-05-25T08:52:44","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=24577"},"modified":"2023-05-25T04:52:44","modified_gmt":"2023-05-25T08:52:44","slug":"ethereum-price-plunges-again-start-of-another-decline-or-buying-opportunity","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/05\/25\/ethereum-price-plunges-again-start-of-another-decline-or-buying-opportunity\/","title":{"rendered":"Ethereum Price Plunges Again: Start of Another Decline Or Buying Opportunity"},"content":{"rendered":"

Ethereum price started a fresh decline below the $1,820 support against the US Dollar. ETH is showing bearish signs and might decline further toward $1,700.<\/em><\/p>\n

Ethereum is currently moving lower below the $1,820 support zone.
\nThe price is trading below $1,800 and the 100-hourly Simple Moving Average.
\nThere are two bearish trend lines forming with resistance near $1,790 and $1,820 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue lower toward the $1,720 and $1,700 levels.<\/p>\n

Ethereum Price Extends Losses<\/h2>\n

Ethereum\u2019s price failed to recover above the $1,850 resistance zone. ETH started a fresh decline and traded below the $1,820 support zone, similar to Bitcoin<\/a>.<\/p>\n

The decline gained pace below the $1,800 level. The price tested the $1,760 zone. A low is formed near $1,761 and the price is now consolidating losses. Ether is trading below $1,800 and the 100-hourly Simple Moving Average<\/a>. There are also two bearish trend lines forming with resistance near $1,790 and $1,820 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $1,785 zone and the first trend line. It is close to the 23.6% Fib retracement level of the downward move from the $1,873 swing high to the $1,761 low.<\/p>\n

The first major resistance is near the $1,820 level and second the trend line. It is close to the 50% Fib retracement level of the downward move from the $1,873 swing high to the $1,761 low. A close above the $1,820 resistance could send Ether toward $1,850.<\/p>\n\n

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

The next resistance sits near $1,880, above which Ethereum could rise toward $1,920. Any more gains above the $1,920 resistance zone could start a steady increase toward the $2,000 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,820 resistance, it could continue to move down. Initial support on the downside is near the $1,760 level.<\/p>\n

The next major support is near the $1,720 zone. The main support could be near $1,700. If there is a close below the $1,700 support, the price could accelerate lower. In the stated case, the price might drop toward the $1,640 support zone. Any more losses may perhaps send the price toward the $1,600 level.<\/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 $1,760<\/p>\n

Major Resistance Level \u2013 $1,820<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started a fresh decline below the $1,820 support against the US Dollar. ETH is showing bearish signs and might decline further toward $1,700.<\/em><\/p>\n

Ethereum is currently moving lower below the $1,820 support zone.
\nThe price is trading below $1,800 and the 100-hourly Simple Moving Average.
\nThere are two bearish trend lines forming with resistance near $1,790 and $1,820 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue lower toward the $1,720 and $1,700 levels.<\/p>\n

Ethereum Price Extends Losses<\/h2>\n

Ethereum\u2019s price failed to recover above the $1,850 resistance zone. ETH started a fresh decline and traded below the $1,820 support zone, similar to Bitcoin<\/a>.<\/p>\n

The decline gained pace below the $1,800 level. The price tested the $1,760 zone. A low is formed near $1,761 and the price is now consolidating losses. Ether is trading below $1,800 and the 100-hourly Simple Moving Average<\/a>. There are also two bearish trend lines forming with resistance near $1,790 and $1,820 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $1,785 zone and the first trend line. It is close to the 23.6% Fib retracement level of the downward move from the $1,873 swing high to the $1,761 low.<\/p>\n

The first major resistance is near the $1,820 level and second the trend line. It is close to the 50% Fib retracement level of the downward move from the $1,873 swing high to the $1,761 low. A close above the $1,820 resistance could send Ether toward $1,850.<\/p>\n

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

The next resistance sits near $1,880, above which Ethereum could rise toward $1,920. Any more gains above the $1,920 resistance zone could start a steady increase toward the $2,000 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,820 resistance, it could continue to move down. Initial support on the downside is near the $1,760 level.<\/p>\n

The next major support is near the $1,720 zone. The main support could be near $1,700. If there is a close below the $1,700 support, the price could accelerate lower. In the stated case, the price might drop toward the $1,640 support zone. Any more losses may perhaps send the price toward the $1,600 level.<\/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 $1,760<\/p>\n

Major Resistance Level \u2013 $1,820<\/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-24577","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\/24577","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=24577"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24577\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24577"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}