Ethereum dived towards $1,000 before it found support against the US Dollar. ETH is now correcting higher and facing a key hurdle near USD 1,125.<\/p>\n
Ethereum extended decline towards $1,000 before it found support.
\nThe price is now trading above $1,080 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,100 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it clears the $1,125 resistance zone.<\/p>\n
Ethereum Price Finds Support<\/p>\n
Ethereum remained in a bearish zone below the $1,100 support zone. ETH extended decline below the $1,050 and $1,040 levels. However, the bulls appeared above the $1,000 support zone.<\/p>\n
A low was formed near $1,014 and the price started a fresh increase. The bulls gained strength for a move above the $1,050 and $1,060 resistance levels. Ether price climbed above the 23.6% Fib retracement level of the downward move from the $1,275 swing high to $1,014 low.<\/p>\n
Besides, there was a break above a key bearish trend line with resistance near $1,100 on the hourly chart of ETH\/USD. Ether price is now trading above $1,080 and the 100 hourly simple moving average.<\/p>\n
An immediate resistance on the upside is near the $1,125 level. The first major resistance is near the $1,145 zone. It is near the 50% Fib retracement level of the downward move from the $1,275 swing high to $1,014 low. A clear move above the $1,145 level could send the price higher.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The next key barrier is near the $1,195 level, above which the price start a decent increase. In the stated case, the price could rise towards the $1,280 resistance zone.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,145 resistance, it could start a fresh decline. An initial support on the downside is near the $1,090 zone. The next major support is near the $1,080 zone.<\/p>\n
A downside break below the $1,080 support may perhaps spark another decline. In the stated case, the price could drop toward the $1,030 level, below which the bears might gain strength.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,080<\/p>\n
Major Resistance Level \u2013 $1,145<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum dived towards $1,000 before it found support against the US Dollar. ETH is now correcting higher and facing a key hurdle near USD 1,125.<\/p>\n
Ethereum extended decline towards $1,000 before it found support.
\nThe price is now trading above $1,080 and the 100 hourly simple moving average.
\nThere was a break above a key bearish trend line with resistance near $1,100 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to rise if it clears the $1,125 resistance zone.<\/p>\n
Ethereum Price Finds Support<\/p>\n
Ethereum remained in a bearish zone below the $1,100 support zone. ETH extended decline below the $1,050 and $1,040 levels. However, the bulls appeared above the $1,000 support zone.<\/p>\n
A low was formed near $1,014 and the price started a fresh increase. The bulls gained strength for a move above the $1,050 and $1,060 resistance levels. Ether price climbed above the 23.6% Fib retracement level of the downward move from the $1,275 swing high to $1,014 low.<\/p>\n
Besides, there was a break above a key bearish trend line with resistance near $1,100 on the hourly chart of ETH\/USD. Ether price is now trading above $1,080 and the 100 hourly simple moving average.<\/p>\n
An immediate resistance on the upside is near the $1,125 level. The first major resistance is near the $1,145 zone. It is near the 50% Fib retracement level of the downward move from the $1,275 swing high to $1,014 low. A clear move above the $1,145 level could send the price higher.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The next key barrier is near the $1,195 level, above which the price start a decent increase. In the stated case, the price could rise towards the $1,280 resistance zone.<\/p>\n
Fresh Decline in ETH?<\/p>\n
If ethereum fails to rise above the $1,145 resistance, it could start a fresh decline. An initial support on the downside is near the $1,090 zone. The next major support is near the $1,080 zone.<\/p>\n
A downside break below the $1,080 support may perhaps spark another decline. In the stated case, the price could drop toward the $1,030 level, below which the bears might gain strength.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,080<\/p>\n
Major Resistance Level \u2013 $1,145<\/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-3370","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\/3370","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=3370"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3370\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3370"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3370"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3370"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}