{"id":28212,"date":"2023-08-15T04:55:21","date_gmt":"2023-08-15T08:55:21","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=28212"},"modified":"2023-08-15T04:55:21","modified_gmt":"2023-08-15T08:55:21","slug":"ethereum-price-plunge-to-1800-on-the-horizon-as-bulls-show-weak-hands","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/08\/15\/ethereum-price-plunge-to-1800-on-the-horizon-as-bulls-show-weak-hands\/","title":{"rendered":"Ethereum Price Plunge To $1,800 On The Horizon, As Bulls Show Weak Hands"},"content":{"rendered":"

Ethereum price is struggling to rise above the $1,850 zone against the US Dollar. ETH could drop toward the $1,800 support in the near term.<\/em><\/p>\n

Ethereum is trading in a range below the $1,850 and $1,860 resistance levels.
\nThe price is trading below $1,850 and the 100-hourly Simple Moving Average.
\nThere is a key contracting triangle forming with support near $1,840 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could drop toward $1,800 if there is no close above the $1,860 resistance.<\/p>\n

Ethereum Price Dips Again<\/h2>\n

Ethereum\u2019s price remained below the $1,860 resistance zone and reacted to the downside. ETH topped near $1,853 and declined below the $1,840 level, similar to Bitcoin<\/a>.<\/p>\n

A low is formed near $1,837 and the pair is now consolidating losses. It climbed above the 23.6% Fib retracement level of the recent decline from the $1,853 swing high to the $1,837 low. Ether is now trading below $1,850 and the 100-hourly Simple Moving Average.<\/p>\n

There is also a key contracting triangle forming with support near $1,840 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,845 level or the 100-hourly Simple Moving Average<\/a>.<\/p>\n\n

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

The 50% Fib retracement level of the recent decline from the $1,853 swing high to the $1,837 low is also near $1,845. The first key resistance is near the $1,850 level. The next key resistance is near the $1,860 level. A close above the $1,860 level could send the price toward $1,880. Any more gains might send the price toward the $1,920 pivot level, above which the price could rise toward the $2,000 zone.<\/p>\n

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

If Ethereum fails to clear the $1,850 resistance, it could continue to move down. Initial support on the downside is near the $1,840 level or the triangle lower trend line.<\/p>\n

The first major support is near the $1,835 zone. If the bulls fail to protect the $1,835 support, there could be more losses. The next major support is near the $1,800 support level. Any more losses might send the price toward the $1,740 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 $1,835<\/p>\n

Major Resistance Level \u2013 $1,850<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is struggling to rise above the $1,850 zone against the US Dollar. ETH could drop toward the $1,800 support in the near term.<\/em><\/p>\n

Ethereum is trading in a range below the $1,850 and $1,860 resistance levels.
\nThe price is trading below $1,850 and the 100-hourly Simple Moving Average.
\nThere is a key contracting triangle forming with support near $1,840 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could drop toward $1,800 if there is no close above the $1,860 resistance.<\/p>\n

Ethereum Price Dips Again<\/h2>\n

Ethereum\u2019s price remained below the $1,860 resistance zone and reacted to the downside. ETH topped near $1,853 and declined below the $1,840 level, similar to Bitcoin<\/a>.<\/p>\n

A low is formed near $1,837 and the pair is now consolidating losses. It climbed above the 23.6% Fib retracement level of the recent decline from the $1,853 swing high to the $1,837 low. Ether is now trading below $1,850 and the 100-hourly Simple Moving Average.<\/p>\n

There is also a key contracting triangle forming with support near $1,840 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,845 level or the 100-hourly Simple Moving Average<\/a>.<\/p>\n

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

The 50% Fib retracement level of the recent decline from the $1,853 swing high to the $1,837 low is also near $1,845. The first key resistance is near the $1,850 level. The next key resistance is near the $1,860 level. A close above the $1,860 level could send the price toward $1,880. Any more gains might send the price toward the $1,920 pivot level, above which the price could rise toward the $2,000 zone.<\/p>\n

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

If Ethereum fails to clear the $1,850 resistance, it could continue to move down. Initial support on the downside is near the $1,840 level or the triangle lower trend line.<\/p>\n

The first major support is near the $1,835 zone. If the bulls fail to protect the $1,835 support, there could be more losses. The next major support is near the $1,800 support level. Any more losses might send the price toward the $1,740 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 $1,835<\/p>\n

Major Resistance Level \u2013 $1,850<\/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-28212","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\/28212","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=28212"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/28212\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=28212"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=28212"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=28212"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}