Ethereum is struggling below $1,080 against the US Dollar. ETH could decline heavily if there is a close below the $1,000 support zone.<\/p>\n
Ethereum remained in a bearish zone below $1,100 and $1,080 levels.
\nThe price is now trading below $1,100 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $1,050 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline again unless there is a clear move above the $1,120 resistance zone.<\/p>\n
Ethereum Price Remains At Risk<\/p>\n
Ethereum remained in a bearish zone and retested the $1,000 support zone. ETH formed a base near $1,000 and recently corrected higher.<\/p>\n
There was a minor recovery wave above the $1,030 and $1,050 level. Ether price climbed above 23.6% Fib retracement level of the key decline from the $1,236 swing high to $997 low. It even attempted an upside break above the $1,100 level but failed.<\/p>\n
It is now trading below $1,100 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,050 on the hourly chart of ETH\/USD.<\/p>\n
An immediate resistance on the upside is near the $1,060 level. The next major resistance is near the $1,080 zone. The first major hurdle is near the $1,100 zone or the 50% Fib retracement level of the key decline from the $1,236 swing high to $997 low. A close above the $1,120 resistance zone could start a decent increase.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
In the stated case, the price could rise towards the $1,180 resistance. Any more gains might send the price towards the $1,236 high.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,080 resistance, it could continue to move down. An initial support on the downside is near the $1,050 zone or the trend line.<\/p>\n
The next major support is near the $1,000 zone. A close below the $1,000 level might spark a sharp decline. In the stated scenario, ether price may perhaps slide towards the $925 level. Any more losses could send the price towards the $880 support zone.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,000<\/p>\n
Major Resistance Level \u2013 $1,080<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum is struggling below $1,080 against the US Dollar. ETH could decline heavily if there is a close below the $1,000 support zone.<\/p>\n
Ethereum remained in a bearish zone below $1,100 and $1,080 levels.
\nThe price is now trading below $1,100 and the 100 hourly simple moving average.
\nThere is a key bullish trend line forming with support near $1,050 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline again unless there is a clear move above the $1,120 resistance zone.<\/p>\n
Ethereum Price Remains At Risk<\/p>\n
Ethereum remained in a bearish zone and retested the $1,000 support zone. ETH formed a base near $1,000 and recently corrected higher.<\/p>\n
There was a minor recovery wave above the $1,030 and $1,050 level. Ether price climbed above 23.6% Fib retracement level of the key decline from the $1,236 swing high to $997 low. It even attempted an upside break above the $1,100 level but failed.<\/p>\n
It is now trading below $1,100 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,050 on the hourly chart of ETH\/USD.<\/p>\n
An immediate resistance on the upside is near the $1,060 level. The next major resistance is near the $1,080 zone. The first major hurdle is near the $1,100 zone or the 50% Fib retracement level of the key decline from the $1,236 swing high to $997 low. A close above the $1,120 resistance zone could start a decent increase.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
In the stated case, the price could rise towards the $1,180 resistance. Any more gains might send the price towards the $1,236 high.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,080 resistance, it could continue to move down. An initial support on the downside is near the $1,050 zone or the trend line.<\/p>\n
The next major support is near the $1,000 zone. A close below the $1,000 level might spark a sharp decline. In the stated scenario, ether price may perhaps slide towards the $925 level. Any more losses could send the price towards the $880 support zone.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,000<\/p>\n
Major Resistance Level \u2013 $1,080<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-2636","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\/2636","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=2636"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/2636\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=2636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=2636"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=2636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}