{"id":32526,"date":"2023-11-15T05:52:43","date_gmt":"2023-11-15T09:52:43","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=32526"},"modified":"2023-11-15T05:52:43","modified_gmt":"2023-11-15T09:52:43","slug":"ethereum-price-trims-gains-these-factors-could-trigger-fresh-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/15\/ethereum-price-trims-gains-these-factors-could-trigger-fresh-increase\/","title":{"rendered":"Ethereum Price Trims Gains \u2013 These Factors Could Trigger Fresh Increase"},"content":{"rendered":"

Ethereum price started a downside correction and traded below $2,000. ETH must stay above $1,920 to start a fresh increase in the near term.<\/em><\/p>\n

Ethereum is correcting gains and testing the $1,920 support zone.
\nThe price is trading below $2,000 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $2,000 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it clears the $2,000 resistance zone in the near term.<\/p>\n

Ethereum Price Holds Key Support<\/h2>\n

After struggling to clear the $2,120 resistance, Ethereum price started a downside correction like Bitcoin<\/a>. ETH traded below the $2,050 and $2,000 support levels.<\/p>\n

However, the bulls were active above the $1,920 support zone<\/a>. A low was formed near $1,933 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level of the recent drop from the $2,118 swing high to the $1,933 low.<\/p>\n

Ethereum is now trading below $2,000 and the 100-hourly Simple Moving Average. Immediate resistance is near the $2,000 zone. There is also a key bearish trend line forming with resistance near $2,000 on the hourly chart of ETH\/USD.<\/p>\n

The next major resistance sits at $2,025 or the 100-hourly Simple Moving Average or the 50% Fib retracement level of the recent drop from the $2,118 swing high to the $1,933 low. A close above the trend line and $2,025 could start a decent increase.<\/p>\n

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

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

The next key resistance is near $2,075, above which the price could aim for a move toward the $2,120 barrier. Any more gains could start a wave toward the $2,250 level.<\/p>\n

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

If Ethereum fails to clear the $2,000 resistance and the trend line, it could start a fresh decline. Initial support on the downside is near the $1,950 level.<\/p>\n

The next key support is $1,920. A downside break below the $1,920 support might start a sharp decline. In the stated case, Ether could drop toward the $1,850 support zone in the near term. Any more losses might call for a drop toward the $1,800 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing 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 $1,920<\/p>\n

Major Resistance Level \u2013 $2,025<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price started a downside correction and traded below $2,000. ETH must stay above $1,920 to start a fresh increase in the near term.<\/em><\/p>\n

Ethereum is correcting gains and testing the $1,920 support zone.
\nThe price is trading below $2,000 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $2,000 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it clears the $2,000 resistance zone in the near term.<\/p>\n

Ethereum Price Holds Key Support<\/h2>\n

After struggling to clear the $2,120 resistance, Ethereum price started a downside correction like Bitcoin<\/a>. ETH traded below the $2,050 and $2,000 support levels.<\/p>\n

However, the bulls were active above the $1,920 support zone<\/a>. A low was formed near $1,933 and the price is now consolidating losses. It is trading near the 23.6% Fib retracement level of the recent drop from the $2,118 swing high to the $1,933 low.<\/p>\n

Ethereum is now trading below $2,000 and the 100-hourly Simple Moving Average. Immediate resistance is near the $2,000 zone. There is also a key bearish trend line forming with resistance near $2,000 on the hourly chart of ETH\/USD.<\/p>\n

The next major resistance sits at $2,025 or the 100-hourly Simple Moving Average or the 50% Fib retracement level of the recent drop from the $2,118 swing high to the $1,933 low. A close above the trend line and $2,025 could start a decent increase.<\/p>\n

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

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

The next key resistance is near $2,075, above which the price could aim for a move toward the $2,120 barrier. Any more gains could start a wave toward the $2,250 level.<\/p>\n

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

If Ethereum fails to clear the $2,000 resistance and the trend line, it could start a fresh decline. Initial support on the downside is near the $1,950 level.<\/p>\n

The next key support is $1,920. A downside break below the $1,920 support might start a sharp decline. In the stated case, Ether could drop toward the $1,850 support zone in the near term. Any more losses might call for a drop toward the $1,800 level.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing 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 $1,920<\/p>\n

Major Resistance Level \u2013 $2,025<\/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-32526","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\/32526","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=32526"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32526\/revisions"}],"predecessor-version":[{"id":32541,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32526\/revisions\/32541"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32526"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}