{"id":32946,"date":"2023-11-22T04:53:07","date_gmt":"2023-11-22T08:53:07","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=32946"},"modified":"2023-11-22T04:53:07","modified_gmt":"2023-11-22T08:53:07","slug":"ethereum-price-recovery-in-trouble-here-are-key-hurdles-to-fresh-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/22\/ethereum-price-recovery-in-trouble-here-are-key-hurdles-to-fresh-increase\/","title":{"rendered":"Ethereum Price Recovery In Trouble? Here Are Key Hurdles To Fresh Increase"},"content":{"rendered":"

Ethereum price declined sharply alongside Bitcoin. ETH traded below $2,000, but it is still holding the key support at $1,920 and might attempt a fresh increase.<\/em><\/p>\n

Ethereum struggled to clear the $2,070 resistance and corrected lower.
\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 $1,990 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it clears the $2,000 hurdle.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum price failed to clear the $2,070 resistance and reacted to the downside. ETH declined below the $2,000 support zone after reports of Binance\u2019s settlement, like Bitcoin<\/a>.<\/p>\n

The bears even pushed the price below the $1,950 support zone and the 100-hourly Simple Moving Average. However, Ether stayed above the $1,920 support<\/a> zone. A low was formed near $1,930 and the price is now attempting a fresh increase.<\/p>\n

Ethereum broke the 23.6% Fib retracement level of the recent decline from the $2,068 swing high to the $1,930 level. However, it is still below $2,000 and the 100-hourly Simple Moving Average.<\/p>\n

On the upside, the price is facing resistance near the $1,990 zone. There is also a key bearish trend line forming with resistance near $1,990 on the hourly chart of ETH\/USD. The first key resistance is near the $2,000 level or the 50% Fib retracement level of the recent decline from the $2,068 swing high to the $1,930 level.<\/p>\n

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

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

A clear move above the $2,000 level could spark bullish moves. The next resistance is near $2,070, above which the price could aim for a move toward the $2,120 level. Any more gains could start a wave toward the $2,200 level.<\/p>\n

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

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

The next key support is $1,930 or $1,920. The main support is still near $1,905. A downside break below the $1,905 support might trigger more losses. In the stated case, Ether could drop toward the $1,820 support zone in the near term.<\/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 near the 50 level.<\/p>\n

Major Support Level \u2013 $1,930<\/p>\n

Major Resistance Level \u2013 $2,000<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price declined sharply alongside Bitcoin. ETH traded below $2,000, but it is still holding the key support at $1,920 and might attempt a fresh increase.<\/em><\/p>\n

Ethereum struggled to clear the $2,070 resistance and corrected lower.
\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 $1,990 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it clears the $2,000 hurdle.<\/p>\n

Ethereum Price Eyes Fresh Increase<\/h2>\n

Ethereum price failed to clear the $2,070 resistance and reacted to the downside. ETH declined below the $2,000 support zone after reports of Binance\u2019s settlement, like Bitcoin<\/a>.<\/p>\n

The bears even pushed the price below the $1,950 support zone and the 100-hourly Simple Moving Average. However, Ether stayed above the $1,920 support<\/a> zone. A low was formed near $1,930 and the price is now attempting a fresh increase.<\/p>\n

Ethereum broke the 23.6% Fib retracement level of the recent decline from the $2,068 swing high to the $1,930 level. However, it is still below $2,000 and the 100-hourly Simple Moving Average.<\/p>\n

On the upside, the price is facing resistance near the $1,990 zone. There is also a key bearish trend line forming with resistance near $1,990 on the hourly chart of ETH\/USD. The first key resistance is near the $2,000 level or the 50% Fib retracement level of the recent decline from the $2,068 swing high to the $1,930 level.<\/p>\n

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

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

A clear move above the $2,000 level could spark bullish moves. The next resistance is near $2,070, above which the price could aim for a move toward the $2,120 level. Any more gains could start a wave toward the $2,200 level.<\/p>\n

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

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

The next key support is $1,930 or $1,920. The main support is still near $1,905. A downside break below the $1,905 support might trigger more losses. In the stated case, Ether could drop toward the $1,820 support zone in the near term.<\/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 near the 50 level.<\/p>\n

Major Support Level \u2013 $1,930<\/p>\n

Major Resistance Level \u2013 $2,000<\/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-32946","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\/32946","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=32946"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32946\/revisions"}],"predecessor-version":[{"id":32955,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32946\/revisions\/32955"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32946"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}