{"id":26309,"date":"2023-07-05T04:52:57","date_gmt":"2023-07-05T08:52:57","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26309"},"modified":"2023-07-05T04:52:57","modified_gmt":"2023-07-05T08:52:57","slug":"ethereum-price-lacks-momentum-above-1950-but-dips-could-be-limited","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/05\/ethereum-price-lacks-momentum-above-1950-but-dips-could-be-limited\/","title":{"rendered":"Ethereum Price Lacks Momentum Above $1,950 But Dips Could Be Limited"},"content":{"rendered":"

Ethereum price failed to test $2,000 and corrected lower against the US Dollar. ETH is testing the $1,930 support and might start a fresh increase.<\/em><\/p>\n

Ethereum is correcting gains from the $1,975 zone.
\nThe price is trading above $1,930 and the 100-hourly Simple Moving Average.
\nThere is a short-term declining channel forming with resistance near $1,950 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it remains stable above $1,930 in the near term.<\/p>\n

Ethereum Price Holds Support<\/h2>\n

Ethereum\u2019s price attempted an upside break above the $1,975 zone but failed. ETH struggled to gain pace for a move toward $2,000 and corrected gains, similar to Bitcoin<\/a>.<\/p>\n

There was a drop below the $1,950 support. The price declined below the 23.6% Fib retracement level of the upward move from the $1,890 swing low to the $1,975 high. However, the bulls were active near the $1,930 support zone.<\/p>\n

It also tested the 50% Fib retracement level of the upward move from the $1,890 swing low to the $1,975 high. Ether price is now trading above $1,930 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

Immediate resistance is near the $1,950 level. There is also a short-term declining channel forming with resistance near $1,950 on the hourly chart of ETH\/USD. The next major resistance is near the $1,975 level. A clear move above the $1,975 resistance could push the price toward $2,000.<\/p>\n\n

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

The next resistance sits near $2,050, above which the price could rise toward the $2,120 level. Any more gains could send Ether toward the $2,200 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,950 resistance or $1,950, it could continue to move down. Initial support on the downside is near the $1,930 level and the 100-hourly Simple Moving Average.<\/p>\n

The first major support is near the $1,910 level. The next major support is near the $1,900 level. If there is a move below the $1,900 support, the price could drop toward the $1,870 support level. Any more losses may perhaps send the price toward the $1,820 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,930<\/p>\n

Major Resistance Level \u2013 $1,975<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price failed to test $2,000 and corrected lower against the US Dollar. ETH is testing the $1,930 support and might start a fresh increase.<\/em><\/p>\n

Ethereum is correcting gains from the $1,975 zone.
\nThe price is trading above $1,930 and the 100-hourly Simple Moving Average.
\nThere is a short-term declining channel forming with resistance near $1,950 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it remains stable above $1,930 in the near term.<\/p>\n

Ethereum Price Holds Support<\/h2>\n

Ethereum\u2019s price attempted an upside break above the $1,975 zone but failed. ETH struggled to gain pace for a move toward $2,000 and corrected gains, similar to Bitcoin<\/a>.<\/p>\n

There was a drop below the $1,950 support. The price declined below the 23.6% Fib retracement level of the upward move from the $1,890 swing low to the $1,975 high. However, the bulls were active near the $1,930 support zone.<\/p>\n

It also tested the 50% Fib retracement level of the upward move from the $1,890 swing low to the $1,975 high. Ether price is now trading above $1,930 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

Immediate resistance is near the $1,950 level. There is also a short-term declining channel forming with resistance near $1,950 on the hourly chart of ETH\/USD. The next major resistance is near the $1,975 level. A clear move above the $1,975 resistance could push the price toward $2,000.<\/p>\n

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

The next resistance sits near $2,050, above which the price could rise toward the $2,120 level. Any more gains could send Ether toward the $2,200 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,950 resistance or $1,950, it could continue to move down. Initial support on the downside is near the $1,930 level and the 100-hourly Simple Moving Average.<\/p>\n

The first major support is near the $1,910 level. The next major support is near the $1,900 level. If there is a move below the $1,900 support, the price could drop toward the $1,870 support level. Any more losses may perhaps send the price toward the $1,820 support in the near term.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $1,930<\/p>\n

Major Resistance Level \u2013 $1,975<\/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-26309","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\/26309","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=26309"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26309\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26309"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}