{"id":34039,"date":"2023-12-11T05:54:43","date_gmt":"2023-12-11T09:54:43","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34039"},"modified":"2023-12-11T05:54:43","modified_gmt":"2023-12-11T09:54:43","slug":"ethereum-price-dives-to-2000-why-dips-remain-attractive","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/11\/ethereum-price-dives-to-2000-why-dips-remain-attractive\/","title":{"rendered":"Ethereum Price Dives To $2,000, Why Dips Remain Attractive"},"content":{"rendered":"

Ethereum price took a major hit like Bitcoin and dropped over $350. ETH tested the $2,000 support and is currently attempting a fresh increase.<\/em><\/p>\n

Ethereum declined over 8% and broke the $2,200 support zone.
\nThe price is trading below $2,300 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support near $2,340 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise again unless there is a close below the $2,100 support zone.<\/p>\n

Ethereum Price Took A Major Hit<\/h2>\n

Ethereum price climbed further higher above the $2,300 level. ETH even cleared the $2,350 level but the bears remained active near the $2,400 zone. A high was formed near $2,401 and there was a sharp decline like Bitcoin<\/a>.<\/p>\n

The price declined over 8% and there was a move below the $2,200 level. Besides, there was a break below a key bullish trend line with support near $2,340 on the hourly chart of ETH\/USD. The pair even spiked below the $2,000 support<\/a> before the bulls appeared.<\/p>\n

A low was formed near $1,980 and the price is now attempting a recovery wave. There was a move above the $2,150 and $2,180 levels. The price climbed above the 50% Fib retracement level of the downward move from the $2,401 swing high to the $1,980 low.<\/p>\n

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

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

On the upside, the price is facing resistance near the $2,275 zone. The next key resistance is near the $2,300 level or the 76.4% Fib retracement level of the downward move from the $2,401 swing high to the $1,980 low. A clear move above the $2,300 zone could send the price toward the $2,400 level. The next resistance sits at $2,450. Any more gains could start a wave toward the $2,500 level.<\/p>\n

Another Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $2,300 resistance, it could start another decline. Initial support on the downside is near the $2,180 level.<\/p>\n

The next key support is $2,120. The main support is now near $2,100. A downside break below $2,200 might start an extended decline. The key support is now at $2,000, below which there is a risk of a move toward the $1,880 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 30 level.<\/p>\n

Major Support Level \u2013 $2,100<\/p>\n

Major Resistance Level \u2013 $2,300<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price took a major hit like Bitcoin and dropped over $350. ETH tested the $2,000 support and is currently attempting a fresh increase.<\/em><\/p>\n

Ethereum declined over 8% and broke the $2,200 support zone.
\nThe price is trading below $2,300 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support near $2,340 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could rise again unless there is a close below the $2,100 support zone.<\/p>\n

Ethereum Price Took A Major Hit<\/h2>\n

Ethereum price climbed further higher above the $2,300 level. ETH even cleared the $2,350 level but the bears remained active near the $2,400 zone. A high was formed near $2,401 and there was a sharp decline like Bitcoin<\/a>.<\/p>\n

The price declined over 8% and there was a move below the $2,200 level. Besides, there was a break below a key bullish trend line with support near $2,340 on the hourly chart of ETH\/USD. The pair even spiked below the $2,000 support<\/a> before the bulls appeared.<\/p>\n

A low was formed near $1,980 and the price is now attempting a recovery wave. There was a move above the $2,150 and $2,180 levels. The price climbed above the 50% Fib retracement level of the downward move from the $2,401 swing high to the $1,980 low.<\/p>\n

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

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

On the upside, the price is facing resistance near the $2,275 zone. The next key resistance is near the $2,300 level or the 76.4% Fib retracement level of the downward move from the $2,401 swing high to the $1,980 low. A clear move above the $2,300 zone could send the price toward the $2,400 level. The next resistance sits at $2,450. Any more gains could start a wave toward the $2,500 level.<\/p>\n

Another Decline in ETH?<\/h2>\n

If Ethereum fails to clear the $2,300 resistance, it could start another decline. Initial support on the downside is near the $2,180 level.<\/p>\n

The next key support is $2,120. The main support is now near $2,100. A downside break below $2,200 might start an extended decline. The key support is now at $2,000, below which there is a risk of a move toward the $1,880 level in the near term.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 30 level.<\/p>\n

Major Support Level \u2013 $2,100<\/p>\n

Major Resistance Level \u2013 $2,300<\/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-34039","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\/34039","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=34039"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34039\/revisions"}],"predecessor-version":[{"id":34044,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/34039\/revisions\/34044"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=34039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=34039"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=34039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}