{"id":27172,"date":"2023-07-24T04:54:22","date_gmt":"2023-07-24T08:54:22","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=27172"},"modified":"2023-07-24T04:54:22","modified_gmt":"2023-07-24T08:54:22","slug":"ethereum-price-hints-at-potential-short-term-downtrend-sell-rallies","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/24\/ethereum-price-hints-at-potential-short-term-downtrend-sell-rallies\/","title":{"rendered":"Ethereum Price Hints At Potential Short-term Downtrend, Sell Rallies?"},"content":{"rendered":"

Ethereum price is struggling to clear the $1,900 resistance against the US Dollar. ETH could gain bearish momentum if there is a close below $1,850.<\/em><\/p>\n

Ethereum is showing bearish signs below the $1,920 level.
\nThe price is trading below $1,900 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,900 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline steadily if the price remains below $1,900.<\/p>\n

Ethereum Price Remains At Risk<\/h2>\n

Ethereum\u2019s price made another attempt to settle above the $1,900 level. However, ETH failed to gain bullish momentum above the $1,900 resistance and started a fresh decline, similar to Bitcoin<\/a>.<\/p>\n

The price declined below the $1,885 and $1,875 levels. The bulls are now active above the $1,860 level. A low is formed near $1,863 and the price is now consolidating losses. There is also a key bearish trend line forming with resistance near $1,900 on the hourly chart of ETH\/USD.<\/p>\n

Ether is trading below $1,900 and the 100-hourly Simple Moving Average<\/a>. On the upside, immediate resistance is near the $1,885 level. It is close to the 50% Fib retracement level recent drop from the $1,903 swing high to the $1,863 low.<\/p>\n

The first major resistance is near the $1,890 level or the 100-hourly Simple Moving Average. It is close to the 61.8% Fib retracement level recent drop from the $1,903 swing high to the $1,863 low.<\/p>\n\n

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

The next major resistance is near the $1,900 level and the trend line, above which the price could test the main resistance at $1,920. Any more gains could send Ether toward the $2,000 resistance in the near term.<\/p>\n

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

If Ethereum fails to clear the $1,900 resistance, it could continue to move down. Initial support on the downside is near the $1,865 level.<\/p>\n

The first major support is near the $1,850 level, below which the price might gain bearish momentum. The next major support is near the $1,825 support level. A close below $1,825 could spark sharp bearish moves toward the $1,720 level. Any more losses could open the doors for a move toward the $1,650 support level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining 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 $1,850<\/p>\n

Major Resistance Level \u2013 $1,900<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is struggling to clear the $1,900 resistance against the US Dollar. ETH could gain bearish momentum if there is a close below $1,850.<\/em><\/p>\n

Ethereum is showing bearish signs below the $1,920 level.
\nThe price is trading below $1,900 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $1,900 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline steadily if the price remains below $1,900.<\/p>\n

Ethereum Price Remains At Risk<\/h2>\n

Ethereum\u2019s price made another attempt to settle above the $1,900 level. However, ETH failed to gain bullish momentum above the $1,900 resistance and started a fresh decline, similar to Bitcoin<\/a>.<\/p>\n

The price declined below the $1,885 and $1,875 levels. The bulls are now active above the $1,860 level. A low is formed near $1,863 and the price is now consolidating losses. There is also a key bearish trend line forming with resistance near $1,900 on the hourly chart of ETH\/USD.<\/p>\n

Ether is trading below $1,900 and the 100-hourly Simple Moving Average<\/a>. On the upside, immediate resistance is near the $1,885 level. It is close to the 50% Fib retracement level recent drop from the $1,903 swing high to the $1,863 low.<\/p>\n

The first major resistance is near the $1,890 level or the 100-hourly Simple Moving Average. It is close to the 61.8% Fib retracement level recent drop from the $1,903 swing high to the $1,863 low.<\/p>\n

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

The next major resistance is near the $1,900 level and the trend line, above which the price could test the main resistance at $1,920. Any more gains could send Ether toward the $2,000 resistance in the near term.<\/p>\n

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

If Ethereum fails to clear the $1,900 resistance, it could continue to move down. Initial support on the downside is near the $1,865 level.<\/p>\n

The first major support is near the $1,850 level, below which the price might gain bearish momentum. The next major support is near the $1,825 support level. A close below $1,825 could spark sharp bearish moves toward the $1,720 level. Any more losses could open the doors for a move toward the $1,650 support level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining 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 $1,850<\/p>\n

Major Resistance Level \u2013 $1,900<\/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-27172","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\/27172","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=27172"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/27172\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=27172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=27172"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=27172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}