{"id":25918,"date":"2023-06-26T04:52:38","date_gmt":"2023-06-26T08:52:38","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=25918"},"modified":"2023-06-26T04:52:38","modified_gmt":"2023-06-26T08:52:38","slug":"ethereum-price-stuck-in-range-as-risk-of-downside-correction-escalates","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/06\/26\/ethereum-price-stuck-in-range-as-risk-of-downside-correction-escalates\/","title":{"rendered":"Ethereum Price Stuck In Range As Risk of Downside Correction Escalates"},"content":{"rendered":"

Ethereum price is struggling to clear the $1,920 resistance against the US Dollar. ETH could correct lower if it breaks the $1,865 support zone.<\/em><\/p>\n

Ethereum is currently correcting lower from the $1,920 resistance.
\nThe price is trading above $1,865 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,890 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a short-term drop if there is a break below the $1,865 support.<\/p>\n

Ethereum Price Struggles Below $1,920<\/h2>\n

Ethereum\u2019s price extended its increase above the $1,850 resistance zone. ETH even spiked above $1,920 before the bears appeared. A high is formed near $1,929 and the price is now correcting gains, similar to Bitcoin<\/a>.<\/p>\n

There was a move below the $1,900 and $1,880 levels. However, the bulls are still protecting the $1,865 support zone. A low is formed near $1,866 and the price is now attempting a fresh increase. It is trading near the 23.6% Fib retracement level of the recent decline from the $1,929 high to the $1,866 low.<\/p>\n

Ether is just trading above $1,865 and the 100-hourly Simple Moving Average<\/a>. Immediate resistance is near the $1,890 level. There is also a key bearish trend line forming with resistance near $1,890 on the hourly chart of ETH\/USD.<\/p>\n

The next major resistance is near the $1,900 level or the 50% Fib retracement level of the recent decline from the $1,929 high to the $1,866 low. The main resistance is near the $1,920 and $1,930 levels. If the bulls manage to pump Ethereum above the $1,930 zone, the price might even surpass $1,965.<\/p>\n\n

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

The next resistance sits near $2,000, above which the price could rise toward the $2,050 level. Any more gains above the $2,050 resistance zone might send the price toward the $2,120 resistance.<\/p>\n

Downside Break 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 $1,865 level.<\/p>\n

The next major support is near the $1,840 level. If there is a break below the $1,840 support, the price could test $1,790. Any more losses may perhaps send the price toward the $1,750 zone or even $1,720.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

Major Support Level \u2013 $1,865<\/p>\n

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

<\/p>\n

Ethereum price is struggling to clear the $1,920 resistance against the US Dollar. ETH could correct lower if it breaks the $1,865 support zone.<\/em><\/p>\n

Ethereum is currently correcting lower from the $1,920 resistance.
\nThe price is trading above $1,865 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,890 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a short-term drop if there is a break below the $1,865 support.<\/p>\n

Ethereum Price Struggles Below $1,920<\/h2>\n

Ethereum\u2019s price extended its increase above the $1,850 resistance zone. ETH even spiked above $1,920 before the bears appeared. A high is formed near $1,929 and the price is now correcting gains, similar to Bitcoin<\/a>.<\/p>\n

There was a move below the $1,900 and $1,880 levels. However, the bulls are still protecting the $1,865 support zone. A low is formed near $1,866 and the price is now attempting a fresh increase. It is trading near the 23.6% Fib retracement level of the recent decline from the $1,929 high to the $1,866 low.<\/p>\n

Ether is just trading above $1,865 and the 100-hourly Simple Moving Average<\/a>. Immediate resistance is near the $1,890 level. There is also a key bearish trend line forming with resistance near $1,890 on the hourly chart of ETH\/USD.<\/p>\n

The next major resistance is near the $1,900 level or the 50% Fib retracement level of the recent decline from the $1,929 high to the $1,866 low. The main resistance is near the $1,920 and $1,930 levels. If the bulls manage to pump Ethereum above the $1,930 zone, the price might even surpass $1,965.<\/p>\n

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

The next resistance sits near $2,000, above which the price could rise toward the $2,050 level. Any more gains above the $2,050 resistance zone might send the price toward the $2,120 resistance.<\/p>\n

Downside Break 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 $1,865 level.<\/p>\n

The next major support is near the $1,840 level. If there is a break below the $1,840 support, the price could test $1,790. Any more losses may perhaps send the price toward the $1,750 zone or even $1,720.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n

Major Support Level \u2013 $1,865<\/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-25918","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\/25918","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=25918"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/25918\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=25918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=25918"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=25918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}