Ethereum struggled to clear the key $1,920 resistance against the US Dollar. ETH declined sharply and now testing the main $1,700 support zone.<\/p>\n
Ethereum failed to surpass the main $1,920 resistance zone.
\nThe price is now trading below $1,800 and the 100 hourly simple moving average.
\nThere was a break below a major bullish trend line with support near $1,800 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair might decline heavily if there is a clear move below the $1,700 support zone.<\/p>\n
Ethereum Price Trims Gains<\/p>\n
Ethereum gained pace above the $1,850 resistance level to start a recovery wave. There was a steady move above the $1,880 level and the 100 hourly simple moving average.<\/p>\n
The price climbed above the 50% Fib retracement level of the key decline from the $2,015 swing high to $1,735 low. Ether price even moved above the $1,900 level, but the bears remained active near the main hurdle at $1,920.<\/p>\n
The price struggled above the $1,900 level. It faced sellers near the 61.8% Fib retracement level of the key decline from the $2,015 swing high to $1,735 low.<\/p>\n
As a result, there was a sharp decline below the $1,850 support. There was a break below a major bullish trend line with support near $1,800 on the hourly chart of ETH\/USD. Ether price declined heavily and even broke the $1,750 support zone.<\/p>\n\n
Source: ETHUSD on TradingView.com<\/p>\n
It is now consolidating losses above the $1,700 support. On the upside, an initial resistance is near the $1,780 level. The next major resistance is near the $1,800 and $1,820 levels. A clear move above the $1,820 resistance might start a decent recovery. In the stated case, the price could revisit $1,850. Any more gains might set the pace for a move towards $1,900.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,820 resistance, it could continue to move down. An initial support on the downside is near the $1,720 zone.<\/p>\n
The next major support is near the $1,700 level. A clear move below the $1,700 level might spark a major decline. The next major support might be $1,660. Any more losses could send the price towards the $1,550 level in the near term.<\/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 in the oversold zone.<\/p>\n
Major Support Level \u2013 $1,700<\/p>\n
Major Resistance Level \u2013 $1,820<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Ethereum struggled to clear the key $1,920 resistance against the US Dollar. ETH declined sharply and now testing the main $1,700 support zone.<\/p>\n
Ethereum failed to surpass the main $1,920 resistance zone.
\nThe price is now trading below $1,800 and the 100 hourly simple moving average.
\nThere was a break below a major bullish trend line with support near $1,800 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair might decline heavily if there is a clear move below the $1,700 support zone.<\/p>\n
Ethereum Price Trims Gains<\/p>\n
Ethereum gained pace above the $1,850 resistance level to start a recovery wave. There was a steady move above the $1,880 level and the 100 hourly simple moving average.<\/p>\n
The price climbed above the 50% Fib retracement level of the key decline from the $2,015 swing high to $1,735 low. Ether price even moved above the $1,900 level, but the bears remained active near the main hurdle at $1,920.<\/p>\n
The price struggled above the $1,900 level. It faced sellers near the 61.8% Fib retracement level of the key decline from the $2,015 swing high to $1,735 low.<\/p>\n
As a result, there was a sharp decline below the $1,850 support. There was a break below a major bullish trend line with support near $1,800 on the hourly chart of ETH\/USD. Ether price declined heavily and even broke the $1,750 support zone.<\/p>\n
Source: ETHUSD on TradingView.com<\/p>\n
It is now consolidating losses above the $1,700 support. On the upside, an initial resistance is near the $1,780 level. The next major resistance is near the $1,800 and $1,820 levels. A clear move above the $1,820 resistance might start a decent recovery. In the stated case, the price could revisit $1,850. Any more gains might set the pace for a move towards $1,900.<\/p>\n
More Losses in ETH?<\/p>\n
If ethereum fails to rise above the $1,820 resistance, it could continue to move down. An initial support on the downside is near the $1,720 zone.<\/p>\n
The next major support is near the $1,700 level. A clear move below the $1,700 level might spark a major decline. The next major support might be $1,660. Any more losses could send the price towards the $1,550 level in the near term.<\/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 in the oversold zone.<\/p>\n
Major Support Level \u2013 $1,700<\/p>\n
Major Resistance Level \u2013 $1,820<\/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-672","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\/672","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=672"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/672\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=672"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}