Ethereum started another decline below $1,200 against the US Dollar. ETH could decline heavily if there is a close below $1,150.<\/p>\n
Ethereum failed to clear the $1,280 resistance zone and declined below $1,200.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $1,180 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to decline if there is a close below the $1,150 level.<\/p>\n
Ethereum Price Takes A Hit<\/p>\n
Ethereum attempted an upside break above the $1,275 resistance zone. However, ETH failed to extend gains and started a fresh decline below the $1,220 level.<\/p>\n
There was a clear move below the $1,200 level and the 100 hourly simple moving average. Ether price traded below the 50% Fib retracement level of the upward move from the $1,076 swing low to $1,276 high. It is now struggling to stay above the $1,150 support zone.<\/p>\n
The price is consolidating near the 61.8% Fib retracement level of the upward move from the $1,076 swing low to $1,276 high. There is also a major bearish trend line forming with resistance near $1,180 on the hourly chart of ETH\/USD.<\/p>\n
An immediate resistance on the upside is near the $1,175 level. The next major resistance is near the trend line zone and $1,180, above which the price may perhaps rise towards $1,220.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The key barrier is still near the $1,280 level, above which the price could gain strength. In the stated case, the price could rise towards the $1,350 resistance zone.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,180 resistance, it could continue to move down. An initial support on the downside is near the $1,123 zone. The next major support is near the $1,080 zone.<\/p>\n
A downside break below the $1,080 support may perhaps send the price further lower. In the stated case, the price may perhaps decline toward the $1,020 level. If the price fails to stay above the $1,020 or $1,000, it could even slide towards the $950 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now well below the 50 level.<\/p>\n
Major Support Level \u2013 $1,125<\/p>\n
Major Resistance Level \u2013 $1,180<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum started another decline below $1,200 against the US Dollar. ETH could decline heavily if there is a close below $1,150.<\/p>\n
Ethereum failed to clear the $1,280 resistance zone and declined below $1,200.
\nThe price is now trading below $1,200 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $1,180 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to decline if there is a close below the $1,150 level.<\/p>\n
Ethereum Price Takes A Hit<\/p>\n
Ethereum attempted an upside break above the $1,275 resistance zone. However, ETH failed to extend gains and started a fresh decline below the $1,220 level.<\/p>\n
There was a clear move below the $1,200 level and the 100 hourly simple moving average. Ether price traded below the 50% Fib retracement level of the upward move from the $1,076 swing low to $1,276 high. It is now struggling to stay above the $1,150 support zone.<\/p>\n
The price is consolidating near the 61.8% Fib retracement level of the upward move from the $1,076 swing low to $1,276 high. There is also a major bearish trend line forming with resistance near $1,180 on the hourly chart of ETH\/USD.<\/p>\n
An immediate resistance on the upside is near the $1,175 level. The next major resistance is near the trend line zone and $1,180, above which the price may perhaps rise towards $1,220.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The key barrier is still near the $1,280 level, above which the price could gain strength. In the stated case, the price could rise towards the $1,350 resistance zone.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,180 resistance, it could continue to move down. An initial support on the downside is near the $1,123 zone. The next major support is near the $1,080 zone.<\/p>\n
A downside break below the $1,080 support may perhaps send the price further lower. In the stated case, the price may perhaps decline toward the $1,020 level. If the price fails to stay above the $1,020 or $1,000, it could even slide towards the $950 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now well below the 50 level.<\/p>\n
Major Support Level \u2013 $1,125<\/p>\n
Major Resistance Level \u2013 $1,180<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-3117","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\/3117","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=3117"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3117\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3117"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}