{"id":33286,"date":"2023-11-28T04:52:55","date_gmt":"2023-11-28T08:52:55","guid":{"rendered":"https:\/\/cryptocornercafe.com\/cafe\/?p=33286"},"modified":"2023-11-28T04:52:55","modified_gmt":"2023-11-28T08:52:55","slug":"ethereum-bears-keep-pressing-why-eth-price-might-revisit-this-key-support","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/28\/ethereum-bears-keep-pressing-why-eth-price-might-revisit-this-key-support\/","title":{"rendered":"Ethereum Bears Keep Pressing, Why ETH Price Might Revisit This Key Support"},"content":{"rendered":"

Ethereum price is moving lower from $2,130. ETH is showing a few bearish signs and might decline toward the $1,920 support zone.<\/em><\/p>\n

Ethereum is slowly moving lower below the $2,060 zone.
\nThe price is trading below $2,060 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance near $2,040 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down toward the $1,920 support zone.<\/p>\n

Ethereum Price Extends Decline<\/h2>\n

Ethereum price started a fresh decline after it struggled near $2,130. ETH formed a high at $2,132 and started a downward movement. There was a move below the $2,100 and $2,080 levels, like Bitcoin<\/a>.<\/p>\n

The price even spiked below the $2,000 support. A low was formed near $1,986 and the price is now consolidating losses. There was a minor recovery wave above the $2,020 level. Ether climbed above the 23.6% Fib retracement level of the recent drop from the $2,132 swing high to the $1,986 low.<\/p>\n

Ethereum is now trading below $2,060 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,040 zone. There is also a major bearish trend line<\/a> forming with resistance near $2,040 on the hourly chart of ETH\/USD.<\/p>\n

The first key resistance is near the $2,060 level or the 50% Fib retracement level of the recent drop from the $2,132 swing high to the $1,986 low. The next resistance sits at $2,100. A clear move above the $2,100 level could send the price toward the $2,135 resistance zone.<\/p>\n

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

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

The next resistance is near $2,150, 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 $2,040 resistance, it could start a fresh decline. Initial support on the downside is near the $2,000 level.<\/p>\n

The next key support is $1,985. A downside break below $1,985 might send Ether toward the $1,920 support. The key support is now at $1,885, below which there is a risk of a move toward the $1,820 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 $1,985<\/p>\n

Major Resistance Level \u2013 $2,040<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price is moving lower from $2,130. ETH is showing a few bearish signs and might decline toward the $1,920 support zone.<\/em><\/p>\n

Ethereum is slowly moving lower below the $2,060 zone.
\nThe price is trading below $2,060 and the 100-hourly Simple Moving Average.
\nThere is a major bearish trend line forming with resistance near $2,040 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down toward the $1,920 support zone.<\/p>\n

Ethereum Price Extends Decline<\/h2>\n

Ethereum price started a fresh decline after it struggled near $2,130. ETH formed a high at $2,132 and started a downward movement. There was a move below the $2,100 and $2,080 levels, like Bitcoin<\/a>.<\/p>\n

The price even spiked below the $2,000 support. A low was formed near $1,986 and the price is now consolidating losses. There was a minor recovery wave above the $2,020 level. Ether climbed above the 23.6% Fib retracement level of the recent drop from the $2,132 swing high to the $1,986 low.<\/p>\n

Ethereum is now trading below $2,060 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,040 zone. There is also a major bearish trend line<\/a> forming with resistance near $2,040 on the hourly chart of ETH\/USD.<\/p>\n

The first key resistance is near the $2,060 level or the 50% Fib retracement level of the recent drop from the $2,132 swing high to the $1,986 low. The next resistance sits at $2,100. A clear move above the $2,100 level could send the price toward the $2,135 resistance zone.<\/p>\n

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

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

The next resistance is near $2,150, 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 $2,040 resistance, it could start a fresh decline. Initial support on the downside is near the $2,000 level.<\/p>\n

The next key support is $1,985. A downside break below $1,985 might send Ether toward the $1,920 support. The key support is now at $1,885, below which there is a risk of a move toward the $1,820 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 $1,985<\/p>\n

Major Resistance Level \u2013 $2,040<\/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-33286","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\/33286","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=33286"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33286\/revisions"}],"predecessor-version":[{"id":33300,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/33286\/revisions\/33300"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=33286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=33286"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=33286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}