{"id":35259,"date":"2024-01-19T03:55:17","date_gmt":"2024-01-19T07:55:17","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35259"},"modified":"2024-01-19T03:55:17","modified_gmt":"2024-01-19T07:55:17","slug":"ethereum-price-dips-alongside-bitcoin-decoding-key-hurdles-to-fresh-increase","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/01\/19\/ethereum-price-dips-alongside-bitcoin-decoding-key-hurdles-to-fresh-increase\/","title":{"rendered":"Ethereum Price Dips Alongside Bitcoin, Decoding Key Hurdles To Fresh Increase"},"content":{"rendered":"

Ethereum price struggled to rise above $2,550 and $2,580. ETH started a fresh decline like Bitcoin and traded below the $2,500 support zone.<\/em><\/p>\n

Ethereum attempted a fresh increase but failed to surpass $2,550.
\nThe price is trading below $2,500 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance near $2,480 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair continue to move down if there is a move below the $2,425 support.<\/p>\n

Ethereum Price Extends Decline<\/h2>\n

Ethereum price struggled to gain pace for a move above the $2,550 and $2,580 resistance levels. ETH formed a short-term top and started a fresh decline below $2,500 like Bitcoin<\/a>.<\/p>\n

There was a move below the $2,450 level. A new weekly low was formed near $2,424 and the price is now consolidating losses<\/a>. There was a minor increase above the $2,450 level, but the bears were active near the 23.6% Fib retracement level of the downward move from the $2,614 swing high to the $2,424 low.<\/p>\n

Ethereum is now trading below $2,500 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,465 level. The next hurdle could be $2,480. There is also a connecting bearish trend line forming with resistance near $2,480 on the hourly chart of ETH\/USD.<\/p>\n

The next major resistance is now near $2,520. A clear move above the $2,520 level might start a decent increase. In the stated case, the price could rise toward the $2,580 level.<\/p>\n

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

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

The next key hurdle sits near the $2,620 zone. A close above the $2,620 resistance could start another steady increase. The next key resistance is near $2,680. Any more gains might send the price toward the $2,720 zone.<\/p>\n

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

If Ethereum fails to clear the $2,520 resistance, it could start another decline. Initial support on the downside is near the $2,440 level.<\/p>\n

The next key support could be the $2,425 zone. A downside break below the $2,425 support might send the price further lower. In the stated case, Ether could test the $2,350 support. Any more losses might send the price toward the $2,320 level.<\/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 50 level.<\/p>\n

Major Support Level \u2013 $2,425<\/p>\n

Major Resistance Level \u2013 $2,520<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum price struggled to rise above $2,550 and $2,580. ETH started a fresh decline like Bitcoin and traded below the $2,500 support zone.<\/em><\/p>\n

Ethereum attempted a fresh increase but failed to surpass $2,550.
\nThe price is trading below $2,500 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance near $2,480 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair continue to move down if there is a move below the $2,425 support.<\/p>\n

Ethereum Price Extends Decline<\/h2>\n

Ethereum price struggled to gain pace for a move above the $2,550 and $2,580 resistance levels. ETH formed a short-term top and started a fresh decline below $2,500 like Bitcoin<\/a>.<\/p>\n

There was a move below the $2,450 level. A new weekly low was formed near $2,424 and the price is now consolidating losses<\/a>. There was a minor increase above the $2,450 level, but the bears were active near the 23.6% Fib retracement level of the downward move from the $2,614 swing high to the $2,424 low.<\/p>\n

Ethereum is now trading below $2,500 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,465 level. The next hurdle could be $2,480. There is also a connecting bearish trend line forming with resistance near $2,480 on the hourly chart of ETH\/USD.<\/p>\n

The next major resistance is now near $2,520. A clear move above the $2,520 level might start a decent increase. In the stated case, the price could rise toward the $2,580 level.<\/p>\n

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

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

The next key hurdle sits near the $2,620 zone. A close above the $2,620 resistance could start another steady increase. The next key resistance is near $2,680. Any more gains might send the price toward the $2,720 zone.<\/p>\n

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

If Ethereum fails to clear the $2,520 resistance, it could start another decline. Initial support on the downside is near the $2,440 level.<\/p>\n

The next key support could be the $2,425 zone. A downside break below the $2,425 support might send the price further lower. In the stated case, Ether could test the $2,350 support. Any more losses might send the price toward the $2,320 level.<\/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 50 level.<\/p>\n

Major Support Level \u2013 $2,425<\/p>\n

Major Resistance Level \u2013 $2,520<\/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-35259","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\/35259","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=35259"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35259\/revisions"}],"predecessor-version":[{"id":35263,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35259\/revisions\/35263"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35259"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}