{"id":24994,"date":"2023-06-05T04:52:48","date_gmt":"2023-06-05T08:52:48","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=24994"},"modified":"2023-06-05T04:52:48","modified_gmt":"2023-06-05T08:52:48","slug":"ethereum-price-at-clear-risk-of-further-losses-after-multiple-rejections","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/05\/ethereum-price-at-clear-risk-of-further-losses-after-multiple-rejections\/","title":{"rendered":"Ethereum Price at Clear Risk of Further Losses After Multiple Rejections"},"content":{"rendered":"

Ethereum price started a fresh decline from the $1,920 resistance against the US Dollar. ETH is moving lower and might dive below the $1,850 support.<\/em><\/p>\n

Ethereum is struggling to gain bullish momentum above the $1,920 resistance.
\nThe price is trading below $1,900 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support near $1,895 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down toward the $1,840 and $1,800 levels.<\/p>\n

Ethereum Price Faces Another Rejection<\/h2>\n

Ethereum\u2019s price attempted another increase above the $1,900 resistance. However, ETH struggled to clear the $1,920 resistance and started another decline, similar to Bitcoin<\/a>.<\/p>\n

There was a move below the $1,900 support zone. The bears pushed the price below the 50% Fib retracement level of the upward move from the $1,838 swing low to the $1,914 high. Besides, there was a break below a key bullish trend line with support near $1,895 on the hourly chart of ETH\/USD.<\/p>\n

Ether is now trading below $1,900 and the 100-hourly Simple Moving Average<\/a>. It is also testing the 61.8% Fib retracement level of the upward move from the $1,838 swing low to the $1,914 high.<\/p>\n

If the price stays above the $1,865 support, it could attempt a fresh increase. Immediate resistance is near the $1,900 zone and the 100-hourly Simple Moving Average. The next major resistance is near the $1,900 level. A proper move above the $1,900 and $1,920 resistance levels might send Ether toward $1,940.<\/p>\n\n

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

The next resistance sits near $1,965, 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 $1,900 resistance, it could continue to move down. Initial support on the downside is near the $1,868 level.<\/p>\n

The next major support is near the $1,855 zone. If there is a break below the $1,855 support, the price could decline toward the $1,840 support. Any more losses may perhaps send the price toward the $1,800 level or even $1,740 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 $1,900<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started a fresh decline from the $1,920 resistance against the US Dollar. ETH is moving lower and might dive below the $1,850 support.<\/em><\/p>\n

Ethereum is struggling to gain bullish momentum above the $1,920 resistance.
\nThe price is trading below $1,900 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support near $1,895 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down toward the $1,840 and $1,800 levels.<\/p>\n

Ethereum Price Faces Another Rejection<\/h2>\n

Ethereum\u2019s price attempted another increase above the $1,900 resistance. However, ETH struggled to clear the $1,920 resistance and started another decline, similar to Bitcoin<\/a>.<\/p>\n

There was a move below the $1,900 support zone. The bears pushed the price below the 50% Fib retracement level of the upward move from the $1,838 swing low to the $1,914 high. Besides, there was a break below a key bullish trend line with support near $1,895 on the hourly chart of ETH\/USD.<\/p>\n

Ether is now trading below $1,900 and the 100-hourly Simple Moving Average<\/a>. It is also testing the 61.8% Fib retracement level of the upward move from the $1,838 swing low to the $1,914 high.<\/p>\n

If the price stays above the $1,865 support, it could attempt a fresh increase. Immediate resistance is near the $1,900 zone and the 100-hourly Simple Moving Average. The next major resistance is near the $1,900 level. A proper move above the $1,900 and $1,920 resistance levels might send Ether toward $1,940.<\/p>\n

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

The next resistance sits near $1,965, 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 $1,900 resistance, it could continue to move down. Initial support on the downside is near the $1,868 level.<\/p>\n

The next major support is near the $1,855 zone. If there is a break below the $1,855 support, the price could decline toward the $1,840 support. Any more losses may perhaps send the price toward the $1,800 level or even $1,740 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 $1,900<\/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-24994","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\/24994","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=24994"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/24994\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=24994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=24994"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=24994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}