Ethereum saw a major rejection near the $1,420 zone against the US Dollar. ETH is down over 6% and remains at a risk of a drop below the $1,220 support.<\/p>\n
Ethereum started a fresh decline from the $1,420 resistance zone.
\nThe price is now trading below $1,300 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,325 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could recover, but it might face sellers near the $1,285 and $1,325 levels.<\/p>\n
Ethereum Price Dives 6%<\/p>\n
Ethereum attempted to gain bullish momentum above the $1,400 level. However, ETH struggled<\/a> to clear the $1,420 level and reacted sharply to the downside.<\/p>\n There was a major decline below the $1,350 and $1,320 levels. Besides, there was a break below a key bullish trend line with support near $1,325 on the hourly chart of ETH\/USD. The pair even broke the $1,300 level and settled well below the 100 hourly simple moving average<\/a>.<\/p>\n Ether price traded to a new weekly low at $1,219 and is currently consolidating losses. It is testing the 23.6% Fib retracement level of the recent decline from the $1,419 swing high to $1,219 low.<\/p>\n On the upside, the price is facing resistance near the $1,285 level. The next major resistance is near $1,320 level. It is close to the 50% Fib retracement level of the recent decline from the $1,419 swing high to $1,219 low. The main resistance sits near the $1,350 level and the 100 hourly SMA.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n A clear break above $1,350 might start a decent increase towards the $1,420 level. Any more gains may perhaps open the doors for a move towards the $1,500 resistance.<\/p>\n More Losses in ETH?<\/p>\n If ethereum fails to recover above the $1,320 resistance, it could continue to move down. An initial support on the downside is near the $1,240 zone.<\/p>\n The next major support is near $1,220. A downside break below the $1,220 support might spark another sharp decline. In the stated case, ether price might drop towards the $1,150 level in the near term.<\/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 below the 50 level.<\/p>\n Major Support Level \u2013 $1,220<\/p>\n Major Resistance Level \u2013 $1,320<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum saw a major rejection near the $1,420 zone against the US Dollar. ETH is down over 6% and remains at a risk of a drop below the $1,220 support.<\/p>\n Ethereum started a fresh decline from the $1,420 resistance zone. Ethereum Price Dives 6%<\/p>\n Ethereum attempted to gain bullish momentum above the $1,400 level. However, ETH struggled<\/a> to clear the $1,420 level and reacted sharply to the downside.<\/p>\n There was a major decline below the $1,350 and $1,320 levels. Besides, there was a break below a key bullish trend line with support near $1,325 on the hourly chart of ETH\/USD. The pair even broke the $1,300 level and settled well below the 100 hourly simple moving average<\/a>.<\/p>\n Ether price traded to a new weekly low at $1,219 and is currently consolidating losses. It is testing the 23.6% Fib retracement level of the recent decline from the $1,419 swing high to $1,219 low.<\/p>\n On the upside, the price is facing resistance near the $1,285 level. The next major resistance is near $1,320 level. It is close to the 50% Fib retracement level of the recent decline from the $1,419 swing high to $1,219 low. The main resistance sits near the $1,350 level and the 100 hourly SMA.<\/p>\n
\nThe price is now trading below $1,300 and the 100 hourly simple moving average.
\nThere was a break below a key bullish trend line with support near $1,325 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could recover, but it might face sellers near the $1,285 and $1,325 levels.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear break above $1,350 might start a decent increase towards the $1,420 level. Any more gains may perhaps open the doors for a move towards the $1,500 resistance.<\/p>\nMore Losses in ETH?<\/p>\nIf ethereum fails to recover above the $1,320 resistance, it could continue to move down. An initial support on the downside is near the $1,240 zone.<\/p>\nThe next major support is near $1,220. A downside break below the $1,220 support might spark another sharp decline. In the stated case, ether price might drop towards the $1,150 level in the near term.<\/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 below the 50 level.<\/p>\nMajor Support Level \u2013 $1,220<\/p>\nMajor Resistance Level \u2013 $1,320<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum saw a major rejection near the $1,420 zone against the US Dollar. ETH is down over 6% and remains at a risk of a drop below the $1,220 support.<\/p>\nEthereum started a fresh decline from the $1,420 resistance zone.\nThe price is now trading below $1,300 and the 100 hourly simple moving average.\nThere was a break below a key bullish trend line with support near $1,325 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair could recover, but it might face sellers near the $1,285 and $1,325 levels.<\/p>\nEthereum Price Dives 6%<\/p>\nEthereum attempted to gain bullish momentum above the $1,400 level. However, ETH struggled<\/a> to clear the $1,420 level and reacted sharply to the downside.<\/p>\nThere was a major decline below the $1,350 and $1,320 levels. Besides, there was a break below a key bullish trend line with support near $1,325 on the hourly chart of ETH\/USD. The pair even broke the $1,300 level and settled well below the 100 hourly simple moving average<\/a>.<\/p>\nEther price traded to a new weekly low at $1,219 and is currently consolidating losses. It is testing the 23.6% Fib retracement level of the recent decline from the $1,419 swing high to $1,219 low.<\/p>\nOn the upside, the price is facing resistance near the $1,285 level. The next major resistance is near $1,320 level. It is close to the 50% Fib retracement level of the recent decline from the $1,419 swing high to $1,219 low. The main resistance sits near the $1,350 level and the 100 hourly SMA.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear break above $1,350 might start a decent increase towards the $1,420 level. Any more gains may perhaps open the doors for a move towards the $1,500 resistance.<\/p>\nMore Losses in ETH?<\/p>\nIf ethereum fails to recover above the $1,320 resistance, it could continue to move down. An initial support on the downside is near the $1,240 zone.<\/p>\nThe next major support is near $1,220. A downside break below the $1,220 support might spark another sharp decline. In the stated case, ether price might drop towards the $1,150 level in the near term.<\/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 below the 50 level.<\/p>\nMajor Support Level \u2013 $1,220<\/p>\nMajor Resistance Level \u2013 $1,320<\/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-8206","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\/8206","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=8206"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/8206\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=8206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=8206"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=8206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/09\/Ethereum-17.png\"){kind=link}