{"id":31530,"date":"2023-10-27T04:52:43","date_gmt":"2023-10-27T08:52:43","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=31530"},"modified":"2023-10-27T04:52:43","modified_gmt":"2023-10-27T08:52:43","slug":"ethereum-price-hints-at-potential-correction-buy-the-dip-2","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/10\/27\/ethereum-price-hints-at-potential-correction-buy-the-dip-2\/","title":{"rendered":"Ethereum Price Hints At Potential Correction, Buy The Dip?"},"content":{"rendered":"

Ethereum price started a downside correction from the $1,866 high against the US dollar. ETH must stay above the $1,750 support to start a fresh increase.<\/em><\/p>\n

Ethereum failed to gain strength above $1,850 and corrected lower.
\nThe price is trading above $1,750 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support near $1,810 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its decline if it fails to stay above the $1,750 support.<\/p>\n

Ethereum Price Signals Downside Correction<\/h2>\n

Ethereum attempted a fresh increase above the $1,820 level. ETH even cleared the $1,850 resistance, but the upsides were limited. The price traded as high as $1,866 and recently started a downside correction, like Bitcoin<\/a>.<\/p>\n

There was a move below the $1,810 and $1,800 levels. Besides, there was a break below a key bullish trend line with support near $1,810 on the hourly chart of ETH\/USD. The pair traded close to the $1,750 support before the bulls emerged.<\/p>\n

A low is formed near $1,763 and the price is now consolidating. It is trading near the 23.6% Fib retracement level of the downside correction from the $1,866 swing high to the $1,763 low.<\/p>\n

Ethereum is now trading above $1,750 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $1,815 level. It is close to the 50% Fib retracement level of the downside correction from the $1,866 swing high to the $1,763 low.<\/p>\n

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

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

The first major resistance is near the $1,850 zone. A close above the $1,850 resistance could start a decent increase. In the stated case, Ether could surpass $1,865 and test $1,920. The next key resistance is near $1,950, above which the price could accelerate higher. In the stated case, the price could rise toward the $2,000 level.<\/p>\n

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

If Ethereum fails to clear the $1,815 resistance, it could start another decline. Initial support on the downside is near the $1,765 level.<\/p>\n

The next key support is $1,750 and the 100-hourly Simple Moving Average. A downside break below the $1,750 support might send the price further lower. In the stated case, Ether could drop toward the $1,700 level.<\/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 $1,750<\/p>\n

Major Resistance Level \u2013 $1,815<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started a downside correction from the $1,866 high against the US dollar. ETH must stay above the $1,750 support to start a fresh increase.<\/em><\/p>\n

Ethereum failed to gain strength above $1,850 and corrected lower.
\nThe price is trading above $1,750 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support near $1,810 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend its decline if it fails to stay above the $1,750 support.<\/p>\n

Ethereum Price Signals Downside Correction<\/h2>\n

Ethereum attempted a fresh increase above the $1,820 level. ETH even cleared the $1,850 resistance, but the upsides were limited. The price traded as high as $1,866 and recently started a downside correction, like Bitcoin<\/a>.<\/p>\n

There was a move below the $1,810 and $1,800 levels. Besides, there was a break below a key bullish trend line with support near $1,810 on the hourly chart of ETH\/USD. The pair traded close to the $1,750 support before the bulls emerged.<\/p>\n

A low is formed near $1,763 and the price is now consolidating. It is trading near the 23.6% Fib retracement level of the downside correction from the $1,866 swing high to the $1,763 low.<\/p>\n

Ethereum is now trading above $1,750 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $1,815 level. It is close to the 50% Fib retracement level of the downside correction from the $1,866 swing high to the $1,763 low.<\/p>\n

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

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

The first major resistance is near the $1,850 zone. A close above the $1,850 resistance could start a decent increase. In the stated case, Ether could surpass $1,865 and test $1,920. The next key resistance is near $1,950, above which the price could accelerate higher. In the stated case, the price could rise toward the $2,000 level.<\/p>\n

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

If Ethereum fails to clear the $1,815 resistance, it could start another decline. Initial support on the downside is near the $1,765 level.<\/p>\n

The next key support is $1,750 and the 100-hourly Simple Moving Average. A downside break below the $1,750 support might send the price further lower. In the stated case, Ether could drop toward the $1,700 level.<\/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 $1,750<\/p>\n

Major Resistance Level \u2013 $1,815<\/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-31530","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\/31530","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=31530"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/31530\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=31530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=31530"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=31530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}