Ethereum extended losses and tested the $1,550 zone against the US Dollar. ETH could gain pace if there is a clear move above the $1,650 resistance.<\/p>\n
Ethereum started a downside correction and traded below the $1,650 level.
\nThe price is now trading below $1,650 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,660 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if there is a clear break below the $1,550 support.<\/p>\n
Ethereum Price Extends Losses<\/p>\n
Ethereum remained in a bearish zone below the $1,700 level. ETH even settled below the $1,650 support zone to move into a short-term bearish zone.<\/p>\n
There was a clear move below the $1,600 support level. Finally, ether price tested the $1,550 level. It remained stable above the 50% Fib retracement level of the key wave from the $1,355 swing low to $1,785 high. The price is now trading below $1,650 and the 100 hourly simple moving average.<\/p>\n
There is also a key bearish trend line forming with resistance near $1,660 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,650 level and the 100 hourly simple moving average.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
The first major resistance is near the trend line and $1,670. A clear move above the $1,670 level could even pump the price to $1,700. If the bulls remain in action, the price may perhaps rise towards the $1,750 resistance zone or even $1,780.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,670 resistance, it could continue to move down. An initial support on the downside is near the $1,570 zone.<\/p>\n
The next major support is near $1,550, below which there is a risk of a sharp decline. In the stated case, ether price may perhaps decline towards the $1,520 support in the near term. It is near the 61.8% Fib retracement level of the key wave from the $1,355 swing low to $1,785 high. Any more losses might call for a test of the $1,450 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now near the 50 level.<\/p>\n
Major Support Level \u2013 $1,570<\/p>\n
Major Resistance Level \u2013 $1,670<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum extended losses and tested the $1,550 zone against the US Dollar. ETH could gain pace if there is a clear move above the $1,650 resistance.<\/p>\n
Ethereum started a downside correction and traded below the $1,650 level.
\nThe price is now trading below $1,650 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,660 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if there is a clear break below the $1,550 support.<\/p>\n
Ethereum Price Extends Losses<\/p>\n
Ethereum remained in a bearish zone below the $1,700 level. ETH even settled below the $1,650 support zone to move into a short-term bearish zone.<\/p>\n
There was a clear move below the $1,600 support level. Finally, ether price tested the $1,550 level. It remained stable above the 50% Fib retracement level of the key wave from the $1,355 swing low to $1,785 high. The price is now trading below $1,650 and the 100 hourly simple moving average.<\/p>\n
There is also a key bearish trend line forming with resistance near $1,660 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,650 level and the 100 hourly simple moving average.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
The first major resistance is near the trend line and $1,670. A clear move above the $1,670 level could even pump the price to $1,700. If the bulls remain in action, the price may perhaps rise towards the $1,750 resistance zone or even $1,780.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,670 resistance, it could continue to move down. An initial support on the downside is near the $1,570 zone.<\/p>\n
The next major support is near $1,550, below which there is a risk of a sharp decline. In the stated case, ether price may perhaps decline towards the $1,520 support in the near term. It is near the 61.8% Fib retracement level of the key wave from the $1,355 swing low to $1,785 high. Any more losses might call for a test of the $1,450 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now near the 50 level.<\/p>\n
Major Support Level \u2013 $1,570<\/p>\n
Major Resistance Level \u2013 $1,670<\/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-4833","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\/4833","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=4833"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4833\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4833"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}