Ethereum declined towards $1,350 before recovering higher against the US Dollar. ETH is now facing a major resistance near the $1,460 and $1,500 levels.<\/p>\n
Ethereum extended losses and traded below the $1,400 level.
\nThe price is now trading below $1,460 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $1,440 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could struggle to recover above the $1,440 and $1,460 resistance levels.<\/p>\n
Ethereum Price Remains In Bearish Zone<\/p>\n
Ethereum remained in a bearish zone below the $1,500 level. ETH started another decline and traded below the key $1,400 support zone.<\/p>\n
The price even spiked below the $1,360 level and traded as low as $1,257. It is now attempting a recovery wave above the $1,400 resistance zone. There was a move above the 23.6% Fib retracement level of the downward move from the $1,662 swing high to $1,357 low.<\/p>\n
However, ether price is trading below $1,460 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,440 level.<\/p>\n
There is also a major bearish trend line forming with resistance near $1,440 on the hourly chart of ETH\/USD. The first major resistance is near the $1,480 zone and the 100 hourly simple moving average. The main resistance is now forming near the $1,500 zone.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The 50% Fib retracement level of the downward move from the $1,662 swing high to $1,357 low is also near the $1,500 zone. A clear move above the $1,500 level could start a decent increase. In the stated case, the price may perhaps rise towards the $1,550 resistance zone.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,480 resistance, it could continue to move down. An initial support on the downside is near the $1,400 zone.<\/p>\n
A clear move below the $1,400 support might spark another decline. In this case, ether price may perhaps revisit the $1,350 support. Any more losses might even push the price to the $1,300 support or even $1,250 in the near term.<\/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 just above the 50 level.<\/p>\n
Major Support Level \u2013 $1,400<\/p>\n
Major Resistance Level \u2013 $1,480<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum declined towards $1,350 before recovering higher against the US Dollar. ETH is now facing a major resistance near the $1,460 and $1,500 levels.<\/p>\n
Ethereum extended losses and traded below the $1,400 level.
\nThe price is now trading below $1,460 and the 100 hourly simple moving average.
\nThere is a major bearish trend line forming with resistance near $1,440 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could struggle to recover above the $1,440 and $1,460 resistance levels.<\/p>\n
Ethereum Price Remains In Bearish Zone<\/p>\n
Ethereum remained in a bearish zone below the $1,500 level. ETH started another decline and traded below the key $1,400 support zone.<\/p>\n
The price even spiked below the $1,360 level and traded as low as $1,257. It is now attempting a recovery wave above the $1,400 resistance zone. There was a move above the 23.6% Fib retracement level of the downward move from the $1,662 swing high to $1,357 low.<\/p>\n
However, ether price is trading below $1,460 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,440 level.<\/p>\n
There is also a major bearish trend line forming with resistance near $1,440 on the hourly chart of ETH\/USD. The first major resistance is near the $1,480 zone and the 100 hourly simple moving average. The main resistance is now forming near the $1,500 zone.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The 50% Fib retracement level of the downward move from the $1,662 swing high to $1,357 low is also near the $1,500 zone. A clear move above the $1,500 level could start a decent increase. In the stated case, the price may perhaps rise towards the $1,550 resistance zone.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,480 resistance, it could continue to move down. An initial support on the downside is near the $1,400 zone.<\/p>\n
A clear move below the $1,400 support might spark another decline. In this case, ether price may perhaps revisit the $1,350 support. Any more losses might even push the price to the $1,300 support or even $1,250 in the near term.<\/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 just above the 50 level.<\/p>\n
Major Support Level \u2013 $1,400<\/p>\n
Major Resistance Level \u2013 $1,480<\/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-4232","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\/4232","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=4232"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4232\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4232"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4232"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4232"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}