{"id":27289,"date":"2023-07-26T04:53:08","date_gmt":"2023-07-26T08:53:08","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=27289"},"modified":"2023-07-26T04:53:08","modified_gmt":"2023-07-26T08:53:08","slug":"ethereum-price-poised-for-further-declines-unless-this-level-gives-way","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/26\/ethereum-price-poised-for-further-declines-unless-this-level-gives-way\/","title":{"rendered":"Ethereum Price Poised for Further Declines Unless this Level Gives Way"},"content":{"rendered":"

Ethereum price is recovering from the $1,830 zone against the US Dollar. ETH could extend its decline if it stays below the $1,880 resistance.<\/em><\/p>\n

Ethereum is slowly moving higher from the $1,830 zone.
\nThe price is trading below $1,870 and the 100-hourly Simple Moving Average.
\nThere is a short-term bullish rising channel forming with support near $1,850 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could struggle to rise above the $1,870 and $1,880 resistance levels.<\/p>\n

Ethereum Price Faces Resistance<\/h2>\n

Ethereum\u2019s price extended its decline below the $1,900 level. ETH even traded below the $1,850 level to move into a bearish zone, similar to Bitcoin<\/a>.<\/p>\n

A new weekly low is formed near $1,832 and the price is now attempting a recovery wave. There was a minor increase above the $1,850 resistance zone. The price moved above the 23.6% Fib retracement level of the downward move from the $1,903 swing high to the $1,832 low.<\/p>\n

Ether is now trading below $1,870 and the 100-hourly Simple Moving Average<\/a>. There is also a short-term bullish rising channel forming with support near $1,850 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, immediate resistance is near the $1,870 level and the 100-hourly Simple Moving Average. It is close to the 50% Fib retracement level of the downward move from the $1,903 swing high to the $1,832 low. The first major resistance is near the $1,875 level.<\/p>\n\n

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

The main resistance is near the $1,900 zone, above which the price might rise toward the $1,920 hurdle. Any more gains could send Ether toward the $2,000 resistance or even $2,050 in the near term.<\/p>\n

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

If Ethereum fails to clear the $1,875 resistance, it could continue to move down. Initial support on the downside is near the $1,850 level and the channel lower trend line.<\/p>\n

The first major support is near the $1,830 zone, below which the price might move further into a bearish zone. The next major support is near the $1,780 support level. Any more losses could open the doors for a move toward the $1,720 level in the coming sessions.<\/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 $1,830<\/p>\n

Major Resistance Level \u2013 $1,875<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is recovering from the $1,830 zone against the US Dollar. ETH could extend its decline if it stays below the $1,880 resistance.<\/em><\/p>\n

Ethereum is slowly moving higher from the $1,830 zone.
\nThe price is trading below $1,870 and the 100-hourly Simple Moving Average.
\nThere is a short-term bullish rising channel forming with support near $1,850 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could struggle to rise above the $1,870 and $1,880 resistance levels.<\/p>\n

Ethereum Price Faces Resistance<\/h2>\n

Ethereum\u2019s price extended its decline below the $1,900 level. ETH even traded below the $1,850 level to move into a bearish zone, similar to Bitcoin<\/a>.<\/p>\n

A new weekly low is formed near $1,832 and the price is now attempting a recovery wave. There was a minor increase above the $1,850 resistance zone. The price moved above the 23.6% Fib retracement level of the downward move from the $1,903 swing high to the $1,832 low.<\/p>\n

Ether is now trading below $1,870 and the 100-hourly Simple Moving Average<\/a>. There is also a short-term bullish rising channel forming with support near $1,850 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, immediate resistance is near the $1,870 level and the 100-hourly Simple Moving Average. It is close to the 50% Fib retracement level of the downward move from the $1,903 swing high to the $1,832 low. The first major resistance is near the $1,875 level.<\/p>\n

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

The main resistance is near the $1,900 zone, above which the price might rise toward the $1,920 hurdle. Any more gains could send Ether toward the $2,000 resistance or even $2,050 in the near term.<\/p>\n

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

If Ethereum fails to clear the $1,875 resistance, it could continue to move down. Initial support on the downside is near the $1,850 level and the channel lower trend line.<\/p>\n

The first major support is near the $1,830 zone, below which the price might move further into a bearish zone. The next major support is near the $1,780 support level. Any more losses could open the doors for a move toward the $1,720 level in the coming sessions.<\/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 $1,830<\/p>\n

Major Resistance Level \u2013 $1,875<\/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-27289","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\/27289","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=27289"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/27289\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=27289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=27289"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=27289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}