{"id":25143,"date":"2023-06-08T02:54:38","date_gmt":"2023-06-08T06:54:38","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25143"},"modified":"2023-06-08T02:54:38","modified_gmt":"2023-06-08T06:54:38","slug":"ethereum-price-consolidates-below-1900-what-could-trigger-a-sharp-decline","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/08\/ethereum-price-consolidates-below-1900-what-could-trigger-a-sharp-decline\/","title":{"rendered":"Ethereum Price Consolidates Below $1,900: What Could Trigger A Sharp Decline?"},"content":{"rendered":"

Ethereum price is moving lower from the $1,900 resistance against the US Dollar. ETH could decline heavily if there is a clear move below the $1,800 support.<\/em><\/p>\n

Ethereum is still struggling to clear the $1,900 and $1,920 resistance levels.
\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 $1,855 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could still struggle to clear the $1,900 resistance zone.<\/p>\n

Ethereum Price Dips Again<\/h2>\n

Ethereum\u2019s price started a fresh increase<\/a> from the $1,775 zone. ETH climbed above the $1,850 resistance but the bears were again active near the $1,900 zone, similar to Bitcoin<\/a>.<\/p>\n

A high is formed near $1,898 and the price is now moving lower. There was a break below the $1,850 support zone. The bears pushed the price below the 50% Fib retracement level of the upward move from the $1,777 swing low to the $1,898 high.<\/p>\n

Ether is now trading below $1,880 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $1,855 on the hourly chart of ETH\/USD.<\/p>\n

It is now holding the $1,820 support and the 61.8% Fib retracement level of the upward move from the $1,777 swing low to the $1,898 high. Immediate resistance is near the $1,855 zone and the trend line. The next major resistance is near the $1,900 level or the recent high.<\/p>\n\n

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

A proper move above the $1,895 and $1,900 resistance levels might send Ether toward $1,920. The next resistance sits near $1,950, above which Ethereum could rise toward $2,000. Any more gains above the $2,000 resistance zone might send the price toward the $2,040 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,855 resistance, it could continue to move down. Initial support on the downside is near the $1,820 level.<\/p>\n

The next major support is near the $1,800 level. If there is a break below the $1,800 support, the price could decline toward the $1,740 support. Any more losses may perhaps send the price toward the $1,700 level or even $1,660 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 $1,800<\/p>\n

Major Resistance Level \u2013 $1,900<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is moving lower from the $1,900 resistance against the US Dollar. ETH could decline heavily if there is a clear move below the $1,800 support.<\/em><\/p>\n

Ethereum is still struggling to clear the $1,900 and $1,920 resistance levels.
\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 $1,855 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could still struggle to clear the $1,900 resistance zone.<\/p>\n

Ethereum Price Dips Again<\/h2>\n

Ethereum\u2019s price started a fresh increase<\/a> from the $1,775 zone. ETH climbed above the $1,850 resistance but the bears were again active near the $1,900 zone, similar to Bitcoin<\/a>.<\/p>\n

A high is formed near $1,898 and the price is now moving lower. There was a break below the $1,850 support zone. The bears pushed the price below the 50% Fib retracement level of the upward move from the $1,777 swing low to the $1,898 high.<\/p>\n

Ether is now trading below $1,880 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $1,855 on the hourly chart of ETH\/USD.<\/p>\n

It is now holding the $1,820 support and the 61.8% Fib retracement level of the upward move from the $1,777 swing low to the $1,898 high. Immediate resistance is near the $1,855 zone and the trend line. The next major resistance is near the $1,900 level or the recent high.<\/p>\n

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

A proper move above the $1,895 and $1,900 resistance levels might send Ether toward $1,920. The next resistance sits near $1,950, above which Ethereum could rise toward $2,000. Any more gains above the $2,000 resistance zone might send the price toward the $2,040 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,855 resistance, it could continue to move down. Initial support on the downside is near the $1,820 level.<\/p>\n

The next major support is near the $1,800 level. If there is a break below the $1,800 support, the price could decline toward the $1,740 support. Any more losses may perhaps send the price toward the $1,700 level or even $1,660 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 $1,800<\/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-25143","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\/25143","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=25143"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25143\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25143"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25143"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25143"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}