{"id":27410,"date":"2023-07-28T03:52:46","date_gmt":"2023-07-28T07:52:46","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=27410"},"modified":"2023-07-28T03:52:46","modified_gmt":"2023-07-28T07:52:46","slug":"ethereum-price-could-avoid-more-downsides-if-it-closes-above-one-key-level","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/07\/28\/ethereum-price-could-avoid-more-downsides-if-it-closes-above-one-key-level\/","title":{"rendered":"Ethereum Price Could Avoid More Downsides If It Closes Above One Key Level"},"content":{"rendered":"

Ethereum price is struggling to clear the $1,885 zone against the US Dollar. ETH could start a decent recovery if there is a close above $1,885 and $1,900.<\/em><\/p>\n

Ethereum is showing a few bearish signs from the $1,885 resistance.
\nThe price is trading below $1,870 and the 100-hourly Simple Moving Average.
\nThere is a major bullish trend line forming with support near $1,858 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline sharply if there is a close below the $1,850 support.<\/p>\n

Ethereum Price Faces Rejection<\/h2>\n

Ethereum\u2019s price attempted a short-term recovery wave above the $1,850 zone. ETH was able to recover above the $1,855 and $1,870 levels, similar to Bitcoin<\/a>.<\/p>\n

However, the bears protected more upsides above the $1,885 resistance zone. A high was formed near $1,887 and the price reacted to the downside. There was a drop below the $1,870 level and the 100-hourly Simple Moving Average.<\/p>\n

Ether declined below the 50% Fib retracement level of the recovery wave from the $1,832 swing low to the $1,887 high. It is now trading below $1,870 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

There is also a major bullish trend line forming with support near $1,858 on the hourly chart of ETH\/USD. The trend line is close to the 61.8% Fib retracement level of the recovery wave from the $1,832 swing low to the $1,887 high.<\/p>\n

On the upside, immediate resistance is near the $1,870 level and the 100 hourly SMA. The first major resistance is near the $1,885 level. The next key resistance is near the $1,900 level, above which the price might rise toward the $1,920 resistance.<\/p>\n\n

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

A close above the $1,920 resistance could start a steady increase. The next resistance is near the $1,975 zone, above which the price might rise toward the $2,000 hurdle.<\/p>\n

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

If Ethereum fails to clear the $1,885 resistance, it could continue to move down. Initial support on the downside is near the $1,855 level and the trend line.<\/p>\n

The first major support is near the $1,850 zone, below which the price might revisit the $1,830 zone. The next major support is near the $1,780 support level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish 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 $1,885 zone against the US Dollar. ETH could start a decent recovery if there is a close above $1,885 and $1,900.<\/em><\/p>\n

Ethereum is showing a few bearish signs from the $1,885 resistance.
\nThe price is trading below $1,870 and the 100-hourly Simple Moving Average.
\nThere is a major bullish trend line forming with support near $1,858 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could decline sharply if there is a close below the $1,850 support.<\/p>\n

Ethereum Price Faces Rejection<\/h2>\n

Ethereum\u2019s price attempted a short-term recovery wave above the $1,850 zone. ETH was able to recover above the $1,855 and $1,870 levels, similar to Bitcoin<\/a>.<\/p>\n

However, the bears protected more upsides above the $1,885 resistance zone. A high was formed near $1,887 and the price reacted to the downside. There was a drop below the $1,870 level and the 100-hourly Simple Moving Average.<\/p>\n

Ether declined below the 50% Fib retracement level of the recovery wave from the $1,832 swing low to the $1,887 high. It is now trading below $1,870 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

There is also a major bullish trend line forming with support near $1,858 on the hourly chart of ETH\/USD. The trend line is close to the 61.8% Fib retracement level of the recovery wave from the $1,832 swing low to the $1,887 high.<\/p>\n

On the upside, immediate resistance is near the $1,870 level and the 100 hourly SMA. The first major resistance is near the $1,885 level. The next key resistance is near the $1,900 level, above which the price might rise toward the $1,920 resistance.<\/p>\n

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

A close above the $1,920 resistance could start a steady increase. The next resistance is near the $1,975 zone, above which the price might rise toward the $2,000 hurdle.<\/p>\n

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

If Ethereum fails to clear the $1,885 resistance, it could continue to move down. Initial support on the downside is near the $1,855 level and the trend line.<\/p>\n

The first major support is near the $1,850 zone, below which the price might revisit the $1,830 zone. The next major support is near the $1,780 support level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish 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-27410","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\/27410","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=27410"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/27410\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=27410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=27410"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=27410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}