Ethereum declined sharply from the $1,500 resistance zone against the US Dollar. ETH is down over 10% and there could be more losses towards the $1,200 support.<\/p>\n
Ethereum started a fresh decline after it failed to clear the $1,500 resistance zone.
\nThe price is now trading below $1,400 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,360 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could accelerate further lower below the $1,300 support zone in the near term.<\/p>\n
Ethereum Price Starts Fresh Drop<\/p>\n
Ethereum failed to gain strength for a move above the $1,480 and $1,500 resistance levels. ETH formed a top near the $1,475 level and started a fresh decline<\/a>.<\/p>\n There was a steady decline below the $1,400 level and the 100 hourly simple moving average. The price even traded below the $1,350 and $1,320 support levels. There was a drop over around 10% and the price traded as low as $1,288.<\/p>\n Ether price is now consolidating losses above the $1,280 level and below the 100 hourly simple moving average<\/a>. On the upside, the price is facing resistance near the $1,335 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,474 swing high to $1,288 low.<\/p>\n The next major resistance is near the $1,360 and $1,380 levels. There is also a key bearish trend line forming with resistance near $1,360 on the hourly chart of ETH\/USD. It is near the 50% Fib retracement level of the recent decline from the $1,474 swing high to $1,288 low.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n A clear break above $1,380 might send the price towards the $1,440 level. Any more gains may perhaps open the doors for a move towards the $1,480 resistance in the near term.<\/p>\n More Losses in ETH?<\/p>\n If ethereum fails to rise above the $1,360 resistance, it could continue to move down. An initial support on the downside is near the $1,300 zone.<\/p>\n The next major support is near $1,260. A downside break below the $1,260 support might another sharp decline. In the stated case, ether price might decline towards the $1,200 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 $1,300<\/p>\n Major Resistance Level \u2013 $1,360<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum declined sharply from the $1,500 resistance zone against the US Dollar. ETH is down over 10% and there could be more losses towards the $1,200 support.<\/p>\n Ethereum started a fresh decline after it failed to clear the $1,500 resistance zone. Ethereum Price Starts Fresh Drop<\/p>\n Ethereum failed to gain strength for a move above the $1,480 and $1,500 resistance levels. ETH formed a top near the $1,475 level and started a fresh decline<\/a>.<\/p>\n There was a steady decline below the $1,400 level and the 100 hourly simple moving average. The price even traded below the $1,350 and $1,320 support levels. There was a drop over around 10% and the price traded as low as $1,288.<\/p>\n Ether price is now consolidating losses above the $1,280 level and below the 100 hourly simple moving average<\/a>. On the upside, the price is facing resistance near the $1,335 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,474 swing high to $1,288 low.<\/p>\n The next major resistance is near the $1,360 and $1,380 levels. There is also a key bearish trend line forming with resistance near $1,360 on the hourly chart of ETH\/USD. It is near the 50% Fib retracement level of the recent decline from the $1,474 swing high to $1,288 low.<\/p>\n
\nThe price is now trading below $1,400 and the 100 hourly simple moving average.
\nThere is a key bearish trend line forming with resistance near $1,360 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could accelerate further lower below the $1,300 support zone in the near term.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear break above $1,380 might send the price towards the $1,440 level. Any more gains may perhaps open the doors for a move towards the $1,480 resistance in the near term.<\/p>\nMore Losses in ETH?<\/p>\nIf ethereum fails to rise above the $1,360 resistance, it could continue to move down. An initial support on the downside is near the $1,300 zone.<\/p>\nThe next major support is near $1,260. A downside break below the $1,260 support might another sharp decline. In the stated case, ether price might decline towards the $1,200 level.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\nHourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\nMajor Support Level \u2013 $1,300<\/p>\nMajor Resistance Level \u2013 $1,360<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum declined sharply from the $1,500 resistance zone against the US Dollar. ETH is down over 10% and there could be more losses towards the $1,200 support.<\/p>\nEthereum started a fresh decline after it failed to clear the $1,500 resistance zone.\nThe price is now trading below $1,400 and the 100 hourly simple moving average.\nThere is a key bearish trend line forming with resistance near $1,360 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair could accelerate further lower below the $1,300 support zone in the near term.<\/p>\nEthereum Price Starts Fresh Drop<\/p>\nEthereum failed to gain strength for a move above the $1,480 and $1,500 resistance levels. ETH formed a top near the $1,475 level and started a fresh decline<\/a>.<\/p>\nThere was a steady decline below the $1,400 level and the 100 hourly simple moving average. The price even traded below the $1,350 and $1,320 support levels. There was a drop over around 10% and the price traded as low as $1,288.<\/p>\nEther price is now consolidating losses above the $1,280 level and below the 100 hourly simple moving average<\/a>. On the upside, the price is facing resistance near the $1,335 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,474 swing high to $1,288 low.<\/p>\nThe next major resistance is near the $1,360 and $1,380 levels. There is also a key bearish trend line forming with resistance near $1,360 on the hourly chart of ETH\/USD. It is near the 50% Fib retracement level of the recent decline from the $1,474 swing high to $1,288 low.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear break above $1,380 might send the price towards the $1,440 level. Any more gains may perhaps open the doors for a move towards the $1,480 resistance in the near term.<\/p>\nMore Losses in ETH?<\/p>\nIf ethereum fails to rise above the $1,360 resistance, it could continue to move down. An initial support on the downside is near the $1,300 zone.<\/p>\nThe next major support is near $1,260. A downside break below the $1,260 support might another sharp decline. In the stated case, ether price might decline towards the $1,200 level.<\/p>\nTechnical Indicators<\/p>\nHourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\nHourly RSI \u2013 The RSI for ETH\/USD is now below the 50 level.<\/p>\nMajor Support Level \u2013 $1,300<\/p>\nMajor Resistance Level \u2013 $1,360<\/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-7936","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\/7936","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=7936"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/7936\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=7936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=7936"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=7936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Ethereum-13.png\"){kind=link}