{"id":28156,"date":"2023-08-14T05:52:56","date_gmt":"2023-08-14T09:52:56","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=28156"},"modified":"2023-08-14T05:52:56","modified_gmt":"2023-08-14T09:52:56","slug":"ethereum-price-rebounds-but-heres-why-upsides-might-be-limited","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/14\/ethereum-price-rebounds-but-heres-why-upsides-might-be-limited\/","title":{"rendered":"Ethereum Price Rebounds But Here\u2019s Why Upsides Might Be Limited"},"content":{"rendered":"

Ethereum price is attempting a recovery wave from the $1,835 zone against the US Dollar. ETH could start a steady increase if it clears the $1,860 resistance.<\/em><\/p>\n

Ethereum is trading in a range below the $1,860 and $1,880 resistance levels.
\nThe price is trading below $1,850 and the 100-hourly Simple Moving Average.
\nThere was a break below a short-term rising channel with support near $1,845 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could drop again if it stays below the $1,860 resistance.<\/p>\n

Ethereum Price Turns Red<\/h2>\n

Ethereum\u2019s price struggled to clear the $1,860 resistance zone and started a fresh decline. ETH settled below the $1,850 level to move into a bearish zone, similar to Bitcoin<\/a>.<\/p>\n

There was a break below a short-term rising channel with support near $1,845 on the hourly chart of ETH\/USD. The pair tested the $1,830 zone. A low is formed near $1,833 and the price is now attempting a recovery wave. There was a move above the $1,840 level.<\/p>\n

The price traded above the 23.6% Fib retracement level of the downward move from the $1,860 swing high to the $1,833 low. Ether is now trading below $1,850 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

On the upside, immediate resistance is near the $1,850 level. It is near the 50% Fib retracement level of the downward move from the $1,860 swing high to the $1,833 low. The first major resistance is near the $1,860 level. The next key resistance is near the $1,880 level.<\/p>\n\n

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

A close above the $1,880 level could send the price toward $1,920. Any more gains might send the price toward the $2,000 hurdle, above which the price could rise toward the $2,040 level or even $2,120.<\/p>\n

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

If Ethereum fails to clear the $1,860 resistance, it could continue to move down. Initial support on the downside is near the $1,835 level or the recent low.<\/p>\n

The first major support is near the $1,820 zone. If the bulls fail to protect the $1,820 support, there could be a sharp decline. The next major support is near the $1,780 support level. Any more losses might send the price toward the $1,720 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 $1,820<\/p>\n

Major Resistance Level \u2013 $1,860<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is attempting a recovery wave from the $1,835 zone against the US Dollar. ETH could start a steady increase if it clears the $1,860 resistance.<\/em><\/p>\n

Ethereum is trading in a range below the $1,860 and $1,880 resistance levels.
\nThe price is trading below $1,850 and the 100-hourly Simple Moving Average.
\nThere was a break below a short-term rising channel with support near $1,845 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could drop again if it stays below the $1,860 resistance.<\/p>\n

Ethereum Price Turns Red<\/h2>\n

Ethereum\u2019s price struggled to clear the $1,860 resistance zone and started a fresh decline. ETH settled below the $1,850 level to move into a bearish zone, similar to Bitcoin<\/a>.<\/p>\n

There was a break below a short-term rising channel with support near $1,845 on the hourly chart of ETH\/USD. The pair tested the $1,830 zone. A low is formed near $1,833 and the price is now attempting a recovery wave. There was a move above the $1,840 level.<\/p>\n

The price traded above the 23.6% Fib retracement level of the downward move from the $1,860 swing high to the $1,833 low. Ether is now trading below $1,850 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

On the upside, immediate resistance is near the $1,850 level. It is near the 50% Fib retracement level of the downward move from the $1,860 swing high to the $1,833 low. The first major resistance is near the $1,860 level. The next key resistance is near the $1,880 level.<\/p>\n

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

A close above the $1,880 level could send the price toward $1,920. Any more gains might send the price toward the $2,000 hurdle, above which the price could rise toward the $2,040 level or even $2,120.<\/p>\n

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

If Ethereum fails to clear the $1,860 resistance, it could continue to move down. Initial support on the downside is near the $1,835 level or the recent low.<\/p>\n

The first major support is near the $1,820 zone. If the bulls fail to protect the $1,820 support, there could be a sharp decline. The next major support is near the $1,780 support level. Any more losses might send the price toward the $1,720 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 $1,820<\/p>\n

Major Resistance Level \u2013 $1,860<\/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-28156","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\/28156","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=28156"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28156\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28156"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28156"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28156"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}