Ethereum corrected lower below $1,650 against the US Dollar. ETH must stay above the $1,550 support zone to avoid a sharp bearish reversal.<\/p>\n
Ethereum started a key 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 connecting bearish trend line forming with resistance near $1,700 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must stay above the $1,550 support to start a fresh increase in the near term.<\/p>\n
Ethereum Price Dips Over 6%<\/p>\n
Ethereum failed to stay above the $1,750 and $1,720 levels. ETH reacted to the downside below the $1,700 level and the 100 hourly simple moving average.<\/p>\n
The price declined over 5% and even spiked below the $1,600 level, similar to bitcoin<\/a>. It even tested the $1,550 support and traded as low as $1,552. Ether is now trading below $1,650 and the 100 hourly simple moving average.<\/p>\n The bulls are now pushing the price above the 23.6% Fib retracement level of the downward move from the $1,789 swing high to $1,552 low. On the upside, the price is facing resistance near the $1,620 level.<\/p>\n The next major resistance is near the $1,660 and $1,670 levels. It is near the 50% Fib retracement level of the downward move from the $1,789 swing high to $1,552 low. A clear break above $1,670 might send the price towards the $1,700 level.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n There is also a connecting bearish trend line forming with resistance near $1,700 and the 100 hourly simple moving average<\/a> on the hourly chart of ETH\/USD. Any more gains may perhaps open the doors for a move towards the $1,780 resistance in the near term.<\/p>\n More Losses in ETH?<\/p>\n If ethereum fails to rise above the $1,660 resistance, it could continue to move down. An initial support on the downside is near the $1,580 zone.<\/p>\n The next major support is near $1,550. A downside break below the $1,550 support might spark more losses. In the stated case, ether price might decline towards the $1,500 level. Any more losses could push the price to $1,440.<\/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 rising towards the 50 level.<\/p>\n Major Support Level \u2013 $1,500<\/p>\n Major Resistance Level \u2013 $1,660<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum corrected lower below $1,650 against the US Dollar. ETH must stay above the $1,550 support zone to avoid a sharp bearish reversal.<\/p>\n Ethereum started a key downside correction and traded below the $1,650 level. Ethereum Price Dips Over 6%<\/p>\n Ethereum failed to stay above the $1,750 and $1,720 levels. ETH reacted to the downside below the $1,700 level and the 100 hourly simple moving average.<\/p>\n The price declined over 5% and even spiked below the $1,600 level, similar to bitcoin<\/a>. It even tested the $1,550 support and traded as low as $1,552. Ether is now trading below $1,650 and the 100 hourly simple moving average.<\/p>\n The bulls are now pushing the price above the 23.6% Fib retracement level of the downward move from the $1,789 swing high to $1,552 low. On the upside, the price is facing resistance near the $1,620 level.<\/p>\n The next major resistance is near the $1,660 and $1,670 levels. It is near the 50% Fib retracement level of the downward move from the $1,789 swing high to $1,552 low. A clear break above $1,670 might send the price towards the $1,700 level.<\/p>\n
\nThe price is now trading below $1,650 and the 100 hourly simple moving average.
\nThere is a connecting bearish trend line forming with resistance near $1,700 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair must stay above the $1,550 support to start a fresh increase in the near term.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nThere is also a connecting bearish trend line forming with resistance near $1,700 and the 100 hourly simple moving average<\/a> on the hourly chart of ETH\/USD. Any more gains may perhaps open the doors for a move towards the $1,780 resistance in the near term.<\/p>\nMore Losses in ETH?<\/p>\nIf ethereum fails to rise above the $1,660 resistance, it could continue to move down. An initial support on the downside is near the $1,580 zone.<\/p>\nThe next major support is near $1,550. A downside break below the $1,550 support might spark more losses. In the stated case, ether price might decline towards the $1,500 level. Any more losses could push the price to $1,440.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\nHourly RSI \u2013 The RSI for ETH\/USD is now rising towards the 50 level.<\/p>\nMajor Support Level \u2013 $1,500<\/p>\nMajor Resistance Level \u2013 $1,660<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum corrected lower below $1,650 against the US Dollar. ETH must stay above the $1,550 support zone to avoid a sharp bearish reversal.<\/p>\nEthereum started a key 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 connecting bearish trend line forming with resistance near $1,700 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair must stay above the $1,550 support to start a fresh increase in the near term.<\/p>\nEthereum Price Dips Over 6%<\/p>\nEthereum failed to stay above the $1,750 and $1,720 levels. ETH reacted to the downside below the $1,700 level and the 100 hourly simple moving average.<\/p>\nThe price declined over 5% and even spiked below the $1,600 level, similar to bitcoin<\/a>. It even tested the $1,550 support and traded as low as $1,552. Ether is now trading below $1,650 and the 100 hourly simple moving average.<\/p>\nThe bulls are now pushing the price above the 23.6% Fib retracement level of the downward move from the $1,789 swing high to $1,552 low. On the upside, the price is facing resistance near the $1,620 level.<\/p>\nThe next major resistance is near the $1,660 and $1,670 levels. It is near the 50% Fib retracement level of the downward move from the $1,789 swing high to $1,552 low. A clear break above $1,670 might send the price towards the $1,700 level.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nThere is also a connecting bearish trend line forming with resistance near $1,700 and the 100 hourly simple moving average<\/a> on the hourly chart of ETH\/USD. Any more gains may perhaps open the doors for a move towards the $1,780 resistance in the near term.<\/p>\nMore Losses in ETH?<\/p>\nIf ethereum fails to rise above the $1,660 resistance, it could continue to move down. An initial support on the downside is near the $1,580 zone.<\/p>\nThe next major support is near $1,550. A downside break below the $1,550 support might spark more losses. In the stated case, ether price might decline towards the $1,500 level. Any more losses could push the price to $1,440.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\nHourly RSI \u2013 The RSI for ETH\/USD is now rising towards the 50 level.<\/p>\nMajor Support Level \u2013 $1,500<\/p>\nMajor Resistance Level \u2013 $1,660<\/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-7616","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\/7616","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=7616"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7616\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7616"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Ethereum-11.png\"){kind=link}