{"id":26927,"date":"2023-07-18T03:53:03","date_gmt":"2023-07-18T07:53:03","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=26927"},"modified":"2023-07-18T03:53:03","modified_gmt":"2023-07-18T07:53:03","slug":"ethereum-price-indicators-suggest-a-strong-case-for-more-downsides","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/18\/ethereum-price-indicators-suggest-a-strong-case-for-more-downsides\/","title":{"rendered":"Ethereum Price Indicators Suggest A Strong Case For More Downsides"},"content":{"rendered":"

Ethereum price corrected further lower below the $1,900 level against the US Dollar. ETH is showing bearish signs and might decline further toward $1,825.<\/em><\/p>\n

Ethereum extended its decline and tested the $1,875 level.
\nThe price is trading below $1,930 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance near $1,910 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline further if it stays below the $1,910 and $1,940 resistance levels.<\/p>\n

Ethereum Price Could Extend Losses<\/h2>\n

Ethereum\u2019s price made a fresh attempt to start a decent increase above the $1,950 resistance<\/a>. However, ETH struggled to gain strength for a move above $1,950.<\/p>\n

A high was formed near $1,943 and the price reacted to the downside. There was a break below the $1,900 support zone. A new weekly low is formed near $1,875 and the price is now attempting a fresh increase. It broke the $1,890 and $1,900 levels.<\/p>\n

There was a move above the 50% Fib retracement level recent decline from the $1,943 swing high to the $1,875 low. Ether is now trading below $1,930 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

On the upside, immediate resistance is near the $1,910 level. There is also a connecting bearish trend line forming with resistance near $1,910 on the hourly chart of ETH\/USD. The trend line is near the 61.8% Fib retracement level recent decline from the $1,943 swing high to the $1,875 low.<\/p>\n\n

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

The first major resistance is near the $1,950 zone, above which the price could rise toward the $1,985 resistance zone. The next major resistance is near the $2,030 level. Any more gains could send Ether toward the $2,120 resistance or even $2,200.<\/p>\n

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

If Ethereum fails to clear the $1,910 resistance, it could start a fresh decline. Initial support on the downside is near the $1,890 level.<\/p>\n

The first major support is near the $1,875 level, below which the price could extend its decline. The next major support is near the $1,825 support level. Any more losses could send Ether toward the $1,780 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 $1,875<\/p>\n

Major Resistance Level \u2013 $1,910<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price corrected further lower below the $1,900 level against the US Dollar. ETH is showing bearish signs and might decline further toward $1,825.<\/em><\/p>\n

Ethereum extended its decline and tested the $1,875 level.
\nThe price is trading below $1,930 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance near $1,910 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline further if it stays below the $1,910 and $1,940 resistance levels.<\/p>\n

Ethereum Price Could Extend Losses<\/h2>\n

Ethereum\u2019s price made a fresh attempt to start a decent increase above the $1,950 resistance<\/a>. However, ETH struggled to gain strength for a move above $1,950.<\/p>\n

A high was formed near $1,943 and the price reacted to the downside. There was a break below the $1,900 support zone. A new weekly low is formed near $1,875 and the price is now attempting a fresh increase. It broke the $1,890 and $1,900 levels.<\/p>\n

There was a move above the 50% Fib retracement level recent decline from the $1,943 swing high to the $1,875 low. Ether is now trading below $1,930 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

On the upside, immediate resistance is near the $1,910 level. There is also a connecting bearish trend line forming with resistance near $1,910 on the hourly chart of ETH\/USD. The trend line is near the 61.8% Fib retracement level recent decline from the $1,943 swing high to the $1,875 low.<\/p>\n

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

The first major resistance is near the $1,950 zone, above which the price could rise toward the $1,985 resistance zone. The next major resistance is near the $2,030 level. Any more gains could send Ether toward the $2,120 resistance or even $2,200.<\/p>\n

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

If Ethereum fails to clear the $1,910 resistance, it could start a fresh decline. Initial support on the downside is near the $1,890 level.<\/p>\n

The first major support is near the $1,875 level, below which the price could extend its decline. The next major support is near the $1,825 support level. Any more losses could send Ether toward the $1,780 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 $1,875<\/p>\n

Major Resistance Level \u2013 $1,910<\/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-26927","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\/26927","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=26927"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/26927\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=26927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=26927"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=26927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}