{"id":26533,"date":"2023-07-10T04:54:06","date_gmt":"2023-07-10T08:54:06","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=26533"},"modified":"2023-07-10T04:54:06","modified_gmt":"2023-07-10T08:54:06","slug":"ethereum-price-prints-bearish-technical-pattern-why-it-could-revisit-1800","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/10\/ethereum-price-prints-bearish-technical-pattern-why-it-could-revisit-1800\/","title":{"rendered":"Ethereum Price Prints Bearish Technical Pattern, Why It Could Revisit $1,800"},"content":{"rendered":"

Ethereum price extended its decline below $1,880 against the US Dollar. ETH is showing bearish signs and might decline further toward $1,800.<\/em><\/p>\n

Ethereum is currently attempting a recovery wave from the $1,825 zone.
\nThe price is trading below $1,880 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,905 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could attempt a fresh increase but upsides might be capped near $1,900.<\/p>\n

Ethereum Price Faces Resistance<\/h2>\n

Ethereum\u2019s price failed to continue higher above the $1,925 resistance and started a fresh decline. ETH declined below the $1,900 and $1,880 levels to move into a short-term bearish zone, similar to Bitcoin<\/a>.<\/p>\n

The price even tested the $1,825 support. A low is formed near $1,825 and the price is now attempting a recovery wave. There was a break above the 23.6% Fib retracement level of the downward move from the $1,956 swing high to the $1,825 low.<\/p>\n

Ether price is still trading below $1,880 and the 100-hourly Simple Moving Average<\/a>. There is also a key bearish trend line forming with resistance near $1,905 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $1,880 level or the 100-hourly Simple Moving Average. The first major resistance is near the $1,890 zone. The next major resistance is near the $1,900 level and the trend line. It is close to the 61.8% Fib retracement level of the downward move from the $1,956 swing high to the $1,825 low.<\/p>\n\n

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

A clear move above the $1,905 resistance could start a decent increase toward $1,955. The next major resistance is near the $1,975 level. Any more gains could send Ether toward the $2,050 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,890 resistance or $1,900, it could continue to move down. Initial support on the downside is near the $1,840 level.<\/p>\n

The first major support is near the $1,825 level, below which there is a risk of a larger decline. The next major support is near the $1,770 level. Any more losses could send Ether toward the $1,720 support level.<\/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 $1,825<\/p>\n

Major Resistance Level \u2013 $1,890<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price extended its decline below $1,880 against the US Dollar. ETH is showing bearish signs and might decline further toward $1,800.<\/em><\/p>\n

Ethereum is currently attempting a recovery wave from the $1,825 zone.
\nThe price is trading below $1,880 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,905 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could attempt a fresh increase but upsides might be capped near $1,900.<\/p>\n

Ethereum Price Faces Resistance<\/h2>\n

Ethereum\u2019s price failed to continue higher above the $1,925 resistance and started a fresh decline. ETH declined below the $1,900 and $1,880 levels to move into a short-term bearish zone, similar to Bitcoin<\/a>.<\/p>\n

The price even tested the $1,825 support. A low is formed near $1,825 and the price is now attempting a recovery wave. There was a break above the 23.6% Fib retracement level of the downward move from the $1,956 swing high to the $1,825 low.<\/p>\n

Ether price is still trading below $1,880 and the 100-hourly Simple Moving Average<\/a>. There is also a key bearish trend line forming with resistance near $1,905 on the hourly chart of ETH\/USD.<\/p>\n

Immediate resistance is near the $1,880 level or the 100-hourly Simple Moving Average. The first major resistance is near the $1,890 zone. The next major resistance is near the $1,900 level and the trend line. It is close to the 61.8% Fib retracement level of the downward move from the $1,956 swing high to the $1,825 low.<\/p>\n

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

A clear move above the $1,905 resistance could start a decent increase toward $1,955. The next major resistance is near the $1,975 level. Any more gains could send Ether toward the $2,050 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,890 resistance or $1,900, it could continue to move down. Initial support on the downside is near the $1,840 level.<\/p>\n

The first major support is near the $1,825 level, below which there is a risk of a larger decline. The next major support is near the $1,770 level. Any more losses could send Ether toward the $1,720 support level.<\/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 $1,825<\/p>\n

Major Resistance Level \u2013 $1,890<\/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-26533","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\/26533","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=26533"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26533\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26533"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}