{"id":33217,"date":"2023-11-27T04:14:07","date_gmt":"2023-11-27T08:14:07","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=33217"},"modified":"2023-11-27T04:14:07","modified_gmt":"2023-11-27T08:14:07","slug":"ethereum-price-hints-at-potential-correction-buy-the-dip-3","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/27\/ethereum-price-hints-at-potential-correction-buy-the-dip-3\/","title":{"rendered":"Ethereum Price Hints At Potential Correction, Buy The Dip?"},"content":{"rendered":"

Ethereum price struggled above $2,100. ETH is now moving lower and might continue to drop toward the $1,930 support in the near term.<\/em><\/p>\n

Ethereum is consolidating and facing resistance near the $2,060 zone.
\nThe price is trading below $2,080 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $2,065 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if it breaks the $2,035 support zone.<\/p>\n

Ethereum Price Drops Again<\/h2>\n

Ethereum price attempted a fresh increase above the $2,080 resistance zone<\/a>. ETH even spiked above the $2,120 resistance zone, like Bitcoin<\/a>. However, the bears were active above $2,120.<\/p>\n

A high was formed near $2,132 before the price started a fresh decline. There was a move below the $2,080 level. A low is formed near $2,037 and the price is now consolidating losses. It is struggling below the 23.6% Fib retracement level of the recent decline from the $2,132 swing high to the $2,037 low.<\/p>\n

Ethereum is now trading below $2,080 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,065 zone. There is also a key bearish trend line forming with resistance near $2,065 on the hourly chart of ETH\/USD.<\/p>\n

The first key resistance is near the $2,100 level or the 61.8% Fib retracement level of the recent decline from the $2,132 swing high to the $2,037 low. A clear move above the $2,100 level could send the price toward the $2,120 resistance zone.<\/p>\n

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

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

The next resistance is near $2,135, above which the price could aim for a move toward the $2,200 level. 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 $2,080 resistance, it could start a fresh decline. Initial support on the downside is near the $2,035 level.<\/p>\n

The next key support is $2,000. A downside break below $2,000 might send Ether toward the $1,930 support. The key support is now at $1,900, below which there is a risk of a move toward the $1,840 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 $2,035<\/p>\n

Major Resistance Level \u2013 $2,080<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price struggled above $2,100. ETH is now moving lower and might continue to drop toward the $1,930 support in the near term.<\/em><\/p>\n

Ethereum is consolidating and facing resistance near the $2,060 zone.
\nThe price is trading below $2,080 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance near $2,065 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if it breaks the $2,035 support zone.<\/p>\n

Ethereum Price Drops Again<\/h2>\n

Ethereum price attempted a fresh increase above the $2,080 resistance zone<\/a>. ETH even spiked above the $2,120 resistance zone, like Bitcoin<\/a>. However, the bears were active above $2,120.<\/p>\n

A high was formed near $2,132 before the price started a fresh decline. There was a move below the $2,080 level. A low is formed near $2,037 and the price is now consolidating losses. It is struggling below the 23.6% Fib retracement level of the recent decline from the $2,132 swing high to the $2,037 low.<\/p>\n

Ethereum is now trading below $2,080 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,065 zone. There is also a key bearish trend line forming with resistance near $2,065 on the hourly chart of ETH\/USD.<\/p>\n

The first key resistance is near the $2,100 level or the 61.8% Fib retracement level of the recent decline from the $2,132 swing high to the $2,037 low. A clear move above the $2,100 level could send the price toward the $2,120 resistance zone.<\/p>\n

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

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

The next resistance is near $2,135, above which the price could aim for a move toward the $2,200 level. 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 $2,080 resistance, it could start a fresh decline. Initial support on the downside is near the $2,035 level.<\/p>\n

The next key support is $2,000. A downside break below $2,000 might send Ether toward the $1,930 support. The key support is now at $1,900, below which there is a risk of a move toward the $1,840 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 $2,035<\/p>\n

Major Resistance Level \u2013 $2,080<\/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-33217","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\/33217","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=33217"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33217\/revisions"}],"predecessor-version":[{"id":33223,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33217\/revisions\/33223"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33217"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33217"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33217"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}