{"id":24869,"date":"2023-06-01T04:52:42","date_gmt":"2023-06-01T08:52:42","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=24869"},"modified":"2023-06-01T04:52:42","modified_gmt":"2023-06-01T08:52:42","slug":"ethereum-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-1920","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/01\/ethereum-price-topside-bias-vulnerable-if-it-continues-to-struggle-below-1920\/","title":{"rendered":"Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1,920"},"content":{"rendered":"

Ethereum price started another decline from the $1,920 resistance against the US Dollar. ETH is at a risk of more losses if it stays below $1,920 for a long time.<\/em><\/p>\n

Ethereum is now showing bearish signs and well below the $1,920 resistance zone.
\nThe price is trading below $1,880 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance near $1,870 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bearish momentum if it breaks the $1,840 support.<\/p>\n

Ethereum Price Faces Rejection<\/h2>\n

Ethereum\u2019s price started a fresh decline after it failed to clear the $1,920 resistance zone. ETH declined below the $1,880 level to move into a short-term bearish zone, similar to Bitcoin<\/a>.<\/p>\n

There was a sharp move below the $1,860 level. The price even tested the $1,840 support. A low is formed near $1,838 and the price is now consolidating losses. It is testing the 50% Fib retracement level of the recent decline from the $1,882 swing high to the $1,838 low.<\/p>\n

Ether is now trading below $1,880 and the 100-hourly Simple Moving Average<\/a>. There is also a major bearish trend line forming with resistance near $1,870 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $1,865 zone. It is close to the 76.4% Fib retracement level of the recent decline from the $1,882 swing high to the $1,838 low. The next major resistance is near the $1,880 level. A proper move above the $1,865 and $1,880 resistance levels might send Ether toward $1,900.<\/p>\n\n

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

The next resistance sits near $1,920, above which Ethereum could rise toward $2,000. Any more gains above the $2,000 resistance zone might send the price toward the $2,120 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,880 resistance, it could continue to move down. Initial support on the downside is near the $1,840 level.<\/p>\n

The next major support is near the $1,820 zone. If there is a close below the $1,820 support, the price could decline toward the $1,800 support. Any more losses may perhaps send the price toward the $1,740 level or even $1,720 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 $1,840<\/p>\n

Major Resistance Level \u2013 $1,880<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started another decline from the $1,920 resistance against the US Dollar. ETH is at a risk of more losses if it stays below $1,920 for a long time.<\/em><\/p>\n

Ethereum is now showing bearish signs and well below the $1,920 resistance zone.
\nThe price is trading below $1,880 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance near $1,870 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bearish momentum if it breaks the $1,840 support.<\/p>\n

Ethereum Price Faces Rejection<\/h2>\n

Ethereum\u2019s price started a fresh decline after it failed to clear the $1,920 resistance zone. ETH declined below the $1,880 level to move into a short-term bearish zone, similar to Bitcoin<\/a>.<\/p>\n

There was a sharp move below the $1,860 level. The price even tested the $1,840 support. A low is formed near $1,838 and the price is now consolidating losses. It is testing the 50% Fib retracement level of the recent decline from the $1,882 swing high to the $1,838 low.<\/p>\n

Ether is now trading below $1,880 and the 100-hourly Simple Moving Average<\/a>. There is also a major bearish trend line forming with resistance near $1,870 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $1,865 zone. It is close to the 76.4% Fib retracement level of the recent decline from the $1,882 swing high to the $1,838 low. The next major resistance is near the $1,880 level. A proper move above the $1,865 and $1,880 resistance levels might send Ether toward $1,900.<\/p>\n

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

The next resistance sits near $1,920, above which Ethereum could rise toward $2,000. Any more gains above the $2,000 resistance zone might send the price toward the $2,120 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,880 resistance, it could continue to move down. Initial support on the downside is near the $1,840 level.<\/p>\n

The next major support is near the $1,820 zone. If there is a close below the $1,820 support, the price could decline toward the $1,800 support. Any more losses may perhaps send the price toward the $1,740 level or even $1,720 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 $1,840<\/p>\n

Major Resistance Level \u2013 $1,880<\/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-24869","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\/24869","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=24869"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24869\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24869"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24869"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24869"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}