{"id":31162,"date":"2023-10-19T04:52:59","date_gmt":"2023-10-19T08:52:59","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=31162"},"modified":"2023-10-19T04:52:59","modified_gmt":"2023-10-19T08:52:59","slug":"ethereum-price-on-the-brink-10-drop-possible-toward-1440","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/19\/ethereum-price-on-the-brink-10-drop-possible-toward-1440\/","title":{"rendered":"Ethereum Price On The Brink: 10% Drop Possible Toward $1,440"},"content":{"rendered":"

Ethereum price settled below the $1,565 support zone against the US dollar. ETH is accelerating lower and might drop toward the $1,440 support.<\/em><\/p>\n

Ethereum is gaining pace below the $1,550 support zone.
\nThe price is trading just below $1,565 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance near $1,565 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair remains at risk of more downsides toward the $1,440 support.<\/p>\n

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

Ethereum started a fresh decline and settled below the $1,600 pivot level. ETH traded below the $1,565 and $1,550 support levels, like Bitcoin<\/a>.<\/p>\n

A low is formed near $1,542 and the price is now consolidating losses. The current price action suggests high chances of more losses. There is also a connecting bearish trend line forming with resistance near $1,565 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading just below $1,565 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $1,565 level and the trend line. The 50% Fib retracement level of the downward move from the $1,585 swing high to the $1,542 low is also near the trend line.<\/p>\n

The first major resistance is near the $1,575 zone or the 76.4% Fib retracement level of the downward move from the $1,585 swing high to the $1,542 low.<\/p>\n

<\/a><\/p>\n

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

A close above the $1,575 resistance might start a steady increase. In the stated case, Ether could start a recovery wave toward the $1,600 resistance. Any more gains might open the doors for a move toward $1,665.<\/p>\n

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

If Ethereum fails to clear the $1,565 resistance, it could start another decline. Initial support on the downside is near the $1,540 level.<\/p>\n

The next key support is $1,520. A downside break below the $1,520 support might spark sharp bearish moves. In the stated case, the price could drop toward the $1,440 level. Any more losses may perhaps send Ether toward the $1,350 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 $1,520<\/p>\n

Major Resistance Level \u2013 $1,565<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price settled below the $1,565 support zone against the US dollar. ETH is accelerating lower and might drop toward the $1,440 support.<\/em><\/p>\n

Ethereum is gaining pace below the $1,550 support zone.
\nThe price is trading just below $1,565 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance near $1,565 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair remains at risk of more downsides toward the $1,440 support.<\/p>\n

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

Ethereum started a fresh decline and settled below the $1,600 pivot level. ETH traded below the $1,565 and $1,550 support levels, like Bitcoin<\/a>.<\/p>\n

A low is formed near $1,542 and the price is now consolidating losses. The current price action suggests high chances of more losses. There is also a connecting bearish trend line forming with resistance near $1,565 on the hourly chart of ETH\/USD.<\/p>\n

Ethereum is now trading just below $1,565 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $1,565 level and the trend line. The 50% Fib retracement level of the downward move from the $1,585 swing high to the $1,542 low is also near the trend line.<\/p>\n

The first major resistance is near the $1,575 zone or the 76.4% Fib retracement level of the downward move from the $1,585 swing high to the $1,542 low.<\/p>\n

<\/a><\/p>\n

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

A close above the $1,575 resistance might start a steady increase. In the stated case, Ether could start a recovery wave toward the $1,600 resistance. Any more gains might open the doors for a move toward $1,665.<\/p>\n

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

If Ethereum fails to clear the $1,565 resistance, it could start another decline. Initial support on the downside is near the $1,540 level.<\/p>\n

The next key support is $1,520. A downside break below the $1,520 support might spark sharp bearish moves. In the stated case, the price could drop toward the $1,440 level. Any more losses may perhaps send Ether toward the $1,350 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 $1,520<\/p>\n

Major Resistance Level \u2013 $1,565<\/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-31162","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\/31162","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=31162"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31162\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31162"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31162"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31162"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}