{"id":26867,"date":"2023-07-17T03:53:09","date_gmt":"2023-07-17T07:53:09","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=26867"},"modified":"2023-07-17T03:53:09","modified_gmt":"2023-07-17T07:53:09","slug":"ethereum-price-prepares-for-the-next-move-as-risk-of-bounce-grows","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/17\/ethereum-price-prepares-for-the-next-move-as-risk-of-bounce-grows\/","title":{"rendered":"Ethereum Price Prepares For The Next Move As Risk of Bounce Grows"},"content":{"rendered":"

Ethereum price failed to stay above $2,000 and corrected lower against the US Dollar. ETH could start a fresh rally if there is a move above $1,950.<\/em><\/p>\n

Ethereum started a downside correction and tested the $1,900 level.
\nThe price is trading below $1,950 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,930 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it clears the $1,930 and $1,950 resistance levels.<\/p>\n

Ethereum Price Could Restart Rally<\/h2>\n

Ethereum\u2019s price rallied above the $1,970 resistance<\/a>. ETH even climbed above $2,000 but failed to extend gains. A high was formed near $2,027 before there was a bearish reaction.<\/p>\n

There was a move below the $1,950 support zone and the 100-hourly Simple Moving Average. The price even tested the $1,900 level. A low is formed near $1,900 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level downward move from the $2,027 swing high to the $1,900 low.<\/p>\n

Ether is also trading below $1,950 and the 100-hourly Simple Moving Average<\/a>. Besides, there is a key bearish trend line forming with resistance near $1,930 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, immediate resistance is near the $1,930 level. The first major resistance is near the $1,950 zone, above which the price could rise toward the $1,975 resistance zone. It is close to the 61.8% Fib retracement level downward move from the $2,027 swing high to the $1,900 low.<\/p>\n\n

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

The next major resistance is near the $2,000 level. Any more gains could send Ether toward the $2,050 resistance or even $2,120.<\/p>\n

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

If Ethereum fails to clear the $1,930 resistance, it could a fresh decline. Initial support on the downside is near the $1,920 level.<\/p>\n

The first major support is near the $1,900 level, below which the price might gain bearish momentum. The next major support is near the $1,850 support level. Any more losses could send Ether toward the $1,825 support level in the near term.<\/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 $1,900<\/p>\n

Major Resistance Level \u2013 $1,950<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price failed to stay above $2,000 and corrected lower against the US Dollar. ETH could start a fresh rally if there is a move above $1,950.<\/em><\/p>\n

Ethereum started a downside correction and tested the $1,900 level.
\nThe price is trading below $1,950 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,930 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it clears the $1,930 and $1,950 resistance levels.<\/p>\n

Ethereum Price Could Restart Rally<\/h2>\n

Ethereum\u2019s price rallied above the $1,970 resistance<\/a>. ETH even climbed above $2,000 but failed to extend gains. A high was formed near $2,027 before there was a bearish reaction.<\/p>\n

There was a move below the $1,950 support zone and the 100-hourly Simple Moving Average. The price even tested the $1,900 level. A low is formed near $1,900 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level downward move from the $2,027 swing high to the $1,900 low.<\/p>\n

Ether is also trading below $1,950 and the 100-hourly Simple Moving Average<\/a>. Besides, there is a key bearish trend line forming with resistance near $1,930 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, immediate resistance is near the $1,930 level. The first major resistance is near the $1,950 zone, above which the price could rise toward the $1,975 resistance zone. It is close to the 61.8% Fib retracement level downward move from the $2,027 swing high to the $1,900 low.<\/p>\n

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

The next major resistance is near the $2,000 level. Any more gains could send Ether toward the $2,050 resistance or even $2,120.<\/p>\n

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

If Ethereum fails to clear the $1,930 resistance, it could a fresh decline. Initial support on the downside is near the $1,920 level.<\/p>\n

The first major support is near the $1,900 level, below which the price might gain bearish momentum. The next major support is near the $1,850 support level. Any more losses could send Ether toward the $1,825 support level in the near term.<\/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 $1,900<\/p>\n

Major Resistance Level \u2013 $1,950<\/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-26867","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\/26867","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=26867"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26867\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26867"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}