{"id":29151,"date":"2023-09-05T04:53:50","date_gmt":"2023-09-05T08:53:50","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29151"},"modified":"2023-09-05T04:53:50","modified_gmt":"2023-09-05T08:53:50","slug":"ethereum-price-indicators-suggest-vulnerability-for-bigger-decline","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/05\/ethereum-price-indicators-suggest-vulnerability-for-bigger-decline\/","title":{"rendered":"Ethereum Price Indicators Suggest Vulnerability For Bigger Decline"},"content":{"rendered":"

Ethereum price is struggling to recover above $1,650 against the US Dollar. ETH is showing bearish signs and might dive below the $1,600 support.<\/em><\/p>\n

Ethereum failed to gain strength for a move above the $1,650 zone.
\nThe price is trading below $1,640 and the 100-hourly Simple Moving Average.
\nThere are two bearish trend lines forming with resistance near $1,630 and $1,640 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could accelerate lower if the bears push it below the $1,600 support.<\/p>\n

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

Ethereum\u2019s price attempted a recovery wave from the $1,600 support zone. ETH price climbed above the $1,630 level but the bears were active near the $1,650 zone, like Bitcoin<\/a>.<\/p>\n

The price is again moving lower and showing bearish signs. There are also two bearish trend lines forming with resistance near $1,630 and $1,640 on the hourly chart of ETH\/USD. Ether is now trading below $1,640 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

On the upside, the price might face resistance near the $1,630 level and the first trend line. The next resistance is near the $1,640 level, the second trend line, and the 100 hourly SMA. It is close to the 23.6% Fib retracement level of the downward move from the $1,750 swing high to the $1,600 low.<\/p>\n

A close above the $1,640 level might send the price toward the $1,670 zone. The main resistance is now forming near $1,700 or the 61.8% Fib retracement level of the downward move from the $1,750 swing high to the $1,600 low.<\/p>\n\n

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

To start a fresh increase, Ethereum must settle above the $1,700 resistance zone. The next resistance might be near $1,750. Any more gains might send the price toward the $1,800 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,640 resistance, it could continue to move down. Initial support on the downside is near the $1,610 level.<\/p>\n

The first key support is close to $1,600. The next major support is near the $1,580 level. If there is a downside break below $1,580, the price could accelerate lower toward the $1,540 level. Any more losses might send the price toward the $1,480 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 $1,600<\/p>\n

Major Resistance Level \u2013 $1,640<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is struggling to recover above $1,650 against the US Dollar. ETH is showing bearish signs and might dive below the $1,600 support.<\/em><\/p>\n

Ethereum failed to gain strength for a move above the $1,650 zone.
\nThe price is trading below $1,640 and the 100-hourly Simple Moving Average.
\nThere are two bearish trend lines forming with resistance near $1,630 and $1,640 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could accelerate lower if the bears push it below the $1,600 support.<\/p>\n

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

Ethereum\u2019s price attempted a recovery wave from the $1,600 support zone. ETH price climbed above the $1,630 level but the bears were active near the $1,650 zone, like Bitcoin<\/a>.<\/p>\n

The price is again moving lower and showing bearish signs. There are also two bearish trend lines forming with resistance near $1,630 and $1,640 on the hourly chart of ETH\/USD. Ether is now trading below $1,640 and the 100-hourly Simple Moving Average<\/a>.<\/p>\n

On the upside, the price might face resistance near the $1,630 level and the first trend line. The next resistance is near the $1,640 level, the second trend line, and the 100 hourly SMA. It is close to the 23.6% Fib retracement level of the downward move from the $1,750 swing high to the $1,600 low.<\/p>\n

A close above the $1,640 level might send the price toward the $1,670 zone. The main resistance is now forming near $1,700 or the 61.8% Fib retracement level of the downward move from the $1,750 swing high to the $1,600 low.<\/p>\n

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

To start a fresh increase, Ethereum must settle above the $1,700 resistance zone. The next resistance might be near $1,750. Any more gains might send the price toward the $1,800 resistance.<\/p>\n

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

If Ethereum fails to clear the $1,640 resistance, it could continue to move down. Initial support on the downside is near the $1,610 level.<\/p>\n

The first key support is close to $1,600. The next major support is near the $1,580 level. If there is a downside break below $1,580, the price could accelerate lower toward the $1,540 level. Any more losses might send the price toward the $1,480 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 $1,600<\/p>\n

Major Resistance Level \u2013 $1,640<\/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-29151","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\/29151","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=29151"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29151\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29151"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}