Ethereum gained pace and traded below $1,150 against the US Dollar. ETH could decline heavily if there is a close below $1,000.<\/p>\n
Ethereum started a fresh decline below the $1,200 and $1,150 levels.
\nThe price is now trading below $1,150 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,145 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to decline if there is a close below the $1,085 level.<\/p>\n
Ethereum Price Drops Further<\/p>\n
Ethereum failed to stay above the $1,200 level and moved into a bearish zone. ETH followed a bearish path and declined below the $1,150 support zone.<\/p>\n
There was a clear move below the 61.8% Fib retracement level of the last key increase from the $1,076 swing low to $1,275 swing high. The price is now trading below $1,150 and the 100 hourly simple moving average.<\/p>\n
It is also trading below the 76.4% Fib retracement level of the last key increase from the $1,076 swing low to $1,275 swing high. However, there is a key support near the $1,085 level. If ether price stays above $1,085, it could correct higher.<\/p>\n
An immediate resistance on the upside is near the $1,130 level. The next major resistance is near the $1,150 zone. Besides, there is a key bearish trend line forming with resistance near $1,145 on the hourly chart of ETH\/USD.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next key barrier is near the $1,200 level, above which the price could gain strength. In the stated case, the price could rise towards the $1,280 resistance zone.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,150 resistance, it could continue to move down. An initial support on the downside is near the $1,085 zone. The next major support is near the $1,050 zone.<\/p>\n
A downside break below the $1,050 support may perhaps send the price further lower. In the stated case, the price could drop toward the $1,000 level. Any more losses below the $1,000 level may perhaps set the pace for a sharp decline.<\/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 40 level.<\/p>\n
Major Support Level \u2013 $1,085<\/p>\n
Major Resistance Level \u2013 $1,150<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum gained pace and traded below $1,150 against the US Dollar. ETH could decline heavily if there is a close below $1,000.<\/p>\n
Ethereum started a fresh decline below the $1,200 and $1,150 levels.
\nThe price is now trading below $1,150 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,145 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to decline if there is a close below the $1,085 level.<\/p>\n
Ethereum Price Drops Further<\/p>\n
Ethereum failed to stay above the $1,200 level and moved into a bearish zone. ETH followed a bearish path and declined below the $1,150 support zone.<\/p>\n
There was a clear move below the 61.8% Fib retracement level of the last key increase from the $1,076 swing low to $1,275 swing high. The price is now trading below $1,150 and the 100 hourly simple moving average.<\/p>\n
It is also trading below the 76.4% Fib retracement level of the last key increase from the $1,076 swing low to $1,275 swing high. However, there is a key support near the $1,085 level. If ether price stays above $1,085, it could correct higher.<\/p>\n
An immediate resistance on the upside is near the $1,130 level. The next major resistance is near the $1,150 zone. Besides, there is a key bearish trend line forming with resistance near $1,145 on the hourly chart of ETH\/USD.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next key barrier is near the $1,200 level, above which the price could gain strength. In the stated case, the price could rise towards the $1,280 resistance zone.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,150 resistance, it could continue to move down. An initial support on the downside is near the $1,085 zone. The next major support is near the $1,050 zone.<\/p>\n
A downside break below the $1,050 support may perhaps send the price further lower. In the stated case, the price could drop toward the $1,000 level. Any more losses below the $1,000 level may perhaps set the pace for a sharp decline.<\/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 40 level.<\/p>\n
Major Support Level \u2013 $1,085<\/p>\n
Major Resistance Level \u2013 $1,150<\/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-3211","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\/3211","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=3211"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3211\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3211"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}