Ethereum is struggling to clear the $1,650 resistance against the US Dollar. ETH remains at a risk of more downsides below the $1,500 support.<\/p>\n
Ethereum attempted to clear the $1,650 resistance but failed.
\nThe price is now trading below $1,630 and the 100 hourly simple moving average.
\nThere is a key rising channel forming with support near $1,605 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if there is a clear move below the $1,545 support zone.<\/p>\n
Ethereum Price Turns Red<\/p>\n
Ethereum started a minor upside correction from the $1,520 support zone. ETH climbed above the $1,550 and $1,600 levels.<\/p>\n
The price even climbed above the $1,640 level and the 100 hourly simple moving average. There was a break above the 23.6% Fib retracement level of the key decline from the $1,880 swing high to $1,524 low. However, the bears were active above the $1,650 level.<\/p>\n
There was no upside continuation above the $1,680 level. Ether price is now trading below $1,630 and the 100 hourly simple moving average. It is also testing the $1,600 support zone.<\/p>\n
Besides, there is a key rising channel forming with support near $1,605 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,630 level. The first major resistance is now forming near the $1,650 level.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
A clear move above the $1,650 level could send the price towards the $1,700 resistance zone. It is near the 50% Fib retracement level of the key decline from the $1,880 swing high to $1,524 low. The next major resistance is near the $1,740 level, above which the price could rise and test the $1,800 resistance.<\/p>\n
Fresh Drop in ETH?<\/p>\n
If ethereum fails to rise above the $1,650 resistance, it could continue to move down. An initial support on the downside is near the $1,600 zone and the channel trend line.<\/p>\n
The next major support is near $1,545, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,500 level. Any more losses may perhaps open the doors for a move towards the $1,450 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,545<\/p>\n
Major Resistance Level \u2013 $1,650<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum is struggling to clear the $1,650 resistance against the US Dollar. ETH remains at a risk of more downsides below the $1,500 support.<\/p>\n
Ethereum attempted to clear the $1,650 resistance but failed.
\nThe price is now trading below $1,630 and the 100 hourly simple moving average.
\nThere is a key rising channel forming with support near $1,605 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if there is a clear move below the $1,545 support zone.<\/p>\n
Ethereum Price Turns Red<\/p>\n
Ethereum started a minor upside correction from the $1,520 support zone. ETH climbed above the $1,550 and $1,600 levels.<\/p>\n
The price even climbed above the $1,640 level and the 100 hourly simple moving average. There was a break above the 23.6% Fib retracement level of the key decline from the $1,880 swing high to $1,524 low. However, the bears were active above the $1,650 level.<\/p>\n
There was no upside continuation above the $1,680 level. Ether price is now trading below $1,630 and the 100 hourly simple moving average. It is also testing the $1,600 support zone.<\/p>\n
Besides, there is a key rising channel forming with support near $1,605 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,630 level. The first major resistance is now forming near the $1,650 level.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
A clear move above the $1,650 level could send the price towards the $1,700 resistance zone. It is near the 50% Fib retracement level of the key decline from the $1,880 swing high to $1,524 low. The next major resistance is near the $1,740 level, above which the price could rise and test the $1,800 resistance.<\/p>\n
Fresh Drop in ETH?<\/p>\n
If ethereum fails to rise above the $1,650 resistance, it could continue to move down. An initial support on the downside is near the $1,600 zone and the channel trend line.<\/p>\n
The next major support is near $1,545, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,500 level. Any more losses may perhaps open the doors for a move towards the $1,450 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n
Hourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,545<\/p>\n
Major Resistance Level \u2013 $1,650<\/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-6191","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\/6191","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=6191"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/6191\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=6191"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=6191"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=6191"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}