Ethereum tested the key $1,265 support zone against the US Dollar. ETH might correct higher, but upsides could face hurdles near $1,300 and $1,310.<\/p>\n
Ethereum remains in a bearish zone below the $1,350 and $1,320 support levels.
\nThe price is now trading below $1,300 and the 100 hourly simple moving average.
\nThere was a break above a connecting bearish trend line with resistance near $1,285 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair remains at a risk of a sharp decline if it stays below the $1,300 pivot level.<\/p>\n
Ethereum Price Faces Hurdles<\/p>\n
Ethereum gained bearish pace<\/a> and settled below the $1,300 support zone. ETH even declined below the $1,280 level and settled below the 100 hourly simple moving average.<\/p>\n There was a minor push below yesterday\u2019s low, but the bulls were active near the $1,265 zone. A low was formed near $1,268 and the price is now correcting higher. There was a short-term wave above the $1,280 level. Ether price was able to clear the 23.6% Fib retracement level of the recent drop from the $1,337 swing high to $1,268 low.<\/p>\n Besides, there was a break above a connecting bearish trend line with resistance near $1,285 on the hourly chart of ETH\/USD. It is now trading below $1,300 and the 100 hourly simple moving average<\/a>.<\/p>\n An immediate resistance on the upside is near the $1,295 level. The first major resistance is near the $1,300 level. It is close to the 50% Fib retracement level of the recent drop from the $1,337 swing high to $1,268 low. If there is an upside break above the $1,300 resistance zone, ethereum price might rise towards the $1,320 resistance.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n A clear break above $1,320 could send the price further higher. The next major resistance could be near the $1,350 level, above which the price could revisit $1,400.<\/p>\n More Losses in ETH?<\/p>\n If ethereum fails to recover above the $1,300 resistance, it could continue to move down. An initial support on the downside is near the $1,270 level.<\/p>\n The next major support is near the $1,265 level. A downside break below the $1,265 might spark a sharp decline. In the stated case, ether price may perhaps decline towards the $1,200 level.<\/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 above to the 50 level.<\/p>\n Major Support Level \u2013 $1,265<\/p>\n Major Resistance Level \u2013 $1,300<\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n Ethereum tested the key $1,265 support zone against the US Dollar. ETH might correct higher, but upsides could face hurdles near $1,300 and $1,310.<\/p>\n Ethereum remains in a bearish zone below the $1,350 and $1,320 support levels. Ethereum Price Faces Hurdles<\/p>\n Ethereum gained bearish pace<\/a> and settled below the $1,300 support zone. ETH even declined below the $1,280 level and settled below the 100 hourly simple moving average.<\/p>\n There was a minor push below yesterday\u2019s low, but the bulls were active near the $1,265 zone. A low was formed near $1,268 and the price is now correcting higher. There was a short-term wave above the $1,280 level. Ether price was able to clear the 23.6% Fib retracement level of the recent drop from the $1,337 swing high to $1,268 low.<\/p>\n Besides, there was a break above a connecting bearish trend line with resistance near $1,285 on the hourly chart of ETH\/USD. It is now trading below $1,300 and the 100 hourly simple moving average<\/a>.<\/p>\n An immediate resistance on the upside is near the $1,295 level. The first major resistance is near the $1,300 level. It is close to the 50% Fib retracement level of the recent drop from the $1,337 swing high to $1,268 low. If there is an upside break above the $1,300 resistance zone, ethereum price might rise towards the $1,320 resistance.<\/p>\n
\nThe price is now trading below $1,300 and the 100 hourly simple moving average.
\nThere was a break above a connecting bearish trend line with resistance near $1,285 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair remains at a risk of a sharp decline if it stays below the $1,300 pivot level.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear break above $1,320 could send the price further higher. The next major resistance could be near the $1,350 level, above which the price could revisit $1,400.<\/p>\nMore Losses in ETH?<\/p>\nIf ethereum fails to recover above the $1,300 resistance, it could continue to move down. An initial support on the downside is near the $1,270 level.<\/p>\nThe next major support is near the $1,265 level. A downside break below the $1,265 might spark a sharp decline. In the stated case, ether price may perhaps decline towards the $1,200 level.<\/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 above to the 50 level.<\/p>\nMajor Support Level \u2013 $1,265<\/p>\nMajor Resistance Level \u2013 $1,300<\/p>","protected":false},"excerpt":{"rendered":"<\/p>\nEthereum tested the key $1,265 support zone against the US Dollar. ETH might correct higher, but upsides could face hurdles near $1,300 and $1,310.<\/p>\nEthereum remains in a bearish zone below the $1,350 and $1,320 support levels.\nThe price is now trading below $1,300 and the 100 hourly simple moving average.\nThere was a break above a connecting bearish trend line with resistance near $1,285 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair remains at a risk of a sharp decline if it stays below the $1,300 pivot level.<\/p>\nEthereum Price Faces Hurdles<\/p>\nEthereum gained bearish pace<\/a> and settled below the $1,300 support zone. ETH even declined below the $1,280 level and settled below the 100 hourly simple moving average.<\/p>\nThere was a minor push below yesterday\u2019s low, but the bulls were active near the $1,265 zone. A low was formed near $1,268 and the price is now correcting higher. There was a short-term wave above the $1,280 level. Ether price was able to clear the 23.6% Fib retracement level of the recent drop from the $1,337 swing high to $1,268 low.<\/p>\nBesides, there was a break above a connecting bearish trend line with resistance near $1,285 on the hourly chart of ETH\/USD. It is now trading below $1,300 and the 100 hourly simple moving average<\/a>.<\/p>\nAn immediate resistance on the upside is near the $1,295 level. The first major resistance is near the $1,300 level. It is close to the 50% Fib retracement level of the recent drop from the $1,337 swing high to $1,268 low. If there is an upside break above the $1,300 resistance zone, ethereum price might rise towards the $1,320 resistance.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nA clear break above $1,320 could send the price further higher. The next major resistance could be near the $1,350 level, above which the price could revisit $1,400.<\/p>\nMore Losses in ETH?<\/p>\nIf ethereum fails to recover above the $1,300 resistance, it could continue to move down. An initial support on the downside is near the $1,270 level.<\/p>\nThe next major support is near the $1,265 level. A downside break below the $1,265 might spark a sharp decline. In the stated case, ether price may perhaps decline towards the $1,200 level.<\/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 above to the 50 level.<\/p>\nMajor Support Level \u2013 $1,265<\/p>\nMajor Resistance Level \u2013 $1,300<\/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-9591","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\/9591","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=9591"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/9591\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=9591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=9591"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=9591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Ethereum-9.png\"){kind=link}