{"id":29799,"date":"2023-09-19T04:52:51","date_gmt":"2023-09-19T08:52:51","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=29799"},"modified":"2023-09-19T04:52:51","modified_gmt":"2023-09-19T08:52:51","slug":"ethereum-price-faces-another-rejection-can-bulls-save-the-day","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/09\/19\/ethereum-price-faces-another-rejection-can-bulls-save-the-day\/","title":{"rendered":"Ethereum Price Faces Another Rejection \u2013 Can Bulls Save The Day?"},"content":{"rendered":"

Ethereum price climbed above $1,650 but failed to surpass $1,670 against the US Dollar. ETH trimmed gains and now consolidating near the $1,630 zone.<\/em><\/p>\n

Ethereum struggled to clear the $1,670 resistance.
\nThe price is trading above $1,630 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance near $1,628 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must stay above the $1,620 support zone to start a fresh increase in the short term.<\/p>\n

Ethereum Price Revisits Support<\/h2>\n

Ethereum\u2019s price started a decent increase above the $1,620 resistance<\/a>. ETH even climbed above the $1,650 resistance before the bears appeared, like Bitcoin<\/a>.<\/p>\n

During the increase, there was a break above a key bearish trend line with resistance near $1,628 on the hourly chart of ETH\/USD. However, the bears defended the $1,670 resistance. A high was formed near $1,669 and the price started a downside correction.<\/p>\n

There was a move below the $1,650 level. The price declined below the 50% Fib retracement level of the upward move from the $1,613 swing low to the $1,669 high.<\/p>\n

Ether is now trading above $1,630 and the 100-hourly Simple Moving Average. It is also trading near the 61.8% Fib retracement level of the upward move from the $1,613 swing low to the $1,669 high. On the upside, the price might face resistance near the $1,650 level.<\/p>\n\n

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

The next resistance is near the $1,670 level. A close above the $1,670 resistance might send the price toward the $1,720 resistance. The next major hurdle is near the $1,750 level. A close above the $1,750 level might send Ethereum further higher toward $1,880 in the coming days.<\/p>\n

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

If Ethereum fails to clear the $1,650 resistance, it could start another decline. Initial support on the downside is near the $1,630 level and the 100-hourly Simple Moving Average.<\/p>\n

The first key support is close to $1,620. The next key support is $1,600. A downside break below $1,600 might start another bearish wave. In the stated case, the price could even decline toward the $1,540 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 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 $1,620<\/p>\n

Major Resistance Level \u2013 $1,670<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price climbed above $1,650 but failed to surpass $1,670 against the US Dollar. ETH trimmed gains and now consolidating near the $1,630 zone.<\/em><\/p>\n

Ethereum struggled to clear the $1,670 resistance.
\nThe price is trading above $1,630 and the 100-hourly Simple Moving Average.
\nThere was a break above a key bearish trend line with resistance near $1,628 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must stay above the $1,620 support zone to start a fresh increase in the short term.<\/p>\n

Ethereum Price Revisits Support<\/h2>\n

Ethereum\u2019s price started a decent increase above the $1,620 resistance<\/a>. ETH even climbed above the $1,650 resistance before the bears appeared, like Bitcoin<\/a>.<\/p>\n

During the increase, there was a break above a key bearish trend line with resistance near $1,628 on the hourly chart of ETH\/USD. However, the bears defended the $1,670 resistance. A high was formed near $1,669 and the price started a downside correction.<\/p>\n

There was a move below the $1,650 level. The price declined below the 50% Fib retracement level of the upward move from the $1,613 swing low to the $1,669 high.<\/p>\n

Ether is now trading above $1,630 and the 100-hourly Simple Moving Average. It is also trading near the 61.8% Fib retracement level of the upward move from the $1,613 swing low to the $1,669 high. On the upside, the price might face resistance near the $1,650 level.<\/p>\n

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

The next resistance is near the $1,670 level. A close above the $1,670 resistance might send the price toward the $1,720 resistance. The next major hurdle is near the $1,750 level. A close above the $1,750 level might send Ethereum further higher toward $1,880 in the coming days.<\/p>\n

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

If Ethereum fails to clear the $1,650 resistance, it could start another decline. Initial support on the downside is near the $1,630 level and the 100-hourly Simple Moving Average.<\/p>\n

The first key support is close to $1,620. The next key support is $1,600. A downside break below $1,600 might start another bearish wave. In the stated case, the price could even decline toward the $1,540 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 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 $1,620<\/p>\n

Major Resistance Level \u2013 $1,670<\/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-29799","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\/29799","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=29799"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/29799\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=29799"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=29799"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=29799"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}