Ethereum failed to clear the $1,300 resistance zone against the US Dollar. ETH is declining and there is a risk of a drop below the $1,265 support.<\/p>\n
Ethereum is still showing bearish signs 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 below a key rising channel with support at $1,290 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair remains at a risk of more losses unless there is a clear move above the $1,300 level.<\/p>\n
Ethereum Price Remains In Downtrend<\/p>\n
Ethereum started a minor upside correction from the $1,265 support zone. ETH traded as low as $1,268 and recovered above the $1,280 level.<\/p>\n
There was a break above the 23.6% Fib retracement level of the downward move from the $1,338 swing high to $1,268 low. Ether price even attempted a clear move above the $1,300 resistance zone and the 100 hourly simple moving average.<\/p>\n
However, the bulls failed to gain strength for a close above $1,300. Ethereum price failed<\/a> to clear the 50% Fib retracement level of the downward move from the $1,338 swing high to $1,268 low.<\/p>\n There was a fresh decline from $1,300. Besides, there was a break below a key rising channel with support at $1,290 on the hourly chart of ETH\/USD. The pair is now trading below $1,300 and the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n An immediate resistance on the upside is near the $1,298 level. The first major resistance is near the $1,300 level. A clear upside break above the $1,300 resistance zone could open the doors for a steady increase. In the stated case, the price may perhaps rise towards the $1,350 resistance. Moreover, it could help bitcoin<\/a> and other altcoins in gaining pace.<\/p>\n Sharp Drop 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 $1,275 level.<\/p>\n The next major support is near the $1,265 level. A downside break below the $1,265 might start a major decline towards $1,200. Any more losses may perhaps open the gates for a move towards the $1,000 support.<\/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 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 failed to clear the $1,300 resistance zone against the US Dollar. ETH is declining and there is a risk of a drop below the $1,265 support.<\/p>\n Ethereum is still showing bearish signs below the $1,350 and $1,320 support levels. Ethereum Price Remains In Downtrend<\/p>\n Ethereum started a minor upside correction from the $1,265 support zone. ETH traded as low as $1,268 and recovered above the $1,280 level.<\/p>\n There was a break above the 23.6% Fib retracement level of the downward move from the $1,338 swing high to $1,268 low. Ether price even attempted a clear move above the $1,300 resistance zone and the 100 hourly simple moving average.<\/p>\n However, the bulls failed to gain strength for a close above $1,300. Ethereum price failed<\/a> to clear the 50% Fib retracement level of the downward move from the $1,338 swing high to $1,268 low.<\/p>\n There was a fresh decline from $1,300. Besides, there was a break below a key rising channel with support at $1,290 on the hourly chart of ETH\/USD. The pair is now trading below $1,300 and the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n Source: ETHUSD on TradingView.com<\/a><\/p>\n An immediate resistance on the upside is near the $1,298 level. The first major resistance is near the $1,300 level. A clear upside break above the $1,300 resistance zone could open the doors for a steady increase. In the stated case, the price may perhaps rise towards the $1,350 resistance. Moreover, it could help bitcoin<\/a> and other altcoins in gaining pace.<\/p>\n Sharp Drop 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 $1,275 level.<\/p>\n The next major support is near the $1,265 level. A downside break below the $1,265 might start a major decline towards $1,200. Any more losses may perhaps open the gates for a move towards the $1,000 support.<\/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 to the 50 level.<\/p>\n Major Support Level \u2013 $1,265<\/p>\n Major 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-9672","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\/9672","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=9672"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/9672\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=9672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=9672"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=9672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nThe price is now trading below $1,300 and the 100 hourly simple moving average.
\nThere was a break below a key rising channel with support at $1,290 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair remains at a risk of more losses unless there is a clear move above the $1,300 level.<\/p>\n
![<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nAn immediate resistance on the upside is near the $1,298 level. The first major resistance is near the $1,300 level. A clear upside break above the $1,300 resistance zone could open the doors for a steady increase. In the stated case, the price may perhaps rise towards the $1,350 resistance. Moreover, it could help bitcoin<\/a> and other altcoins in gaining pace.<\/p>\nSharp Drop 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 $1,275 level.<\/p>\nThe next major support is near the $1,265 level. A downside break below the $1,265 might start a major decline towards $1,200. Any more losses may perhaps open the gates for a move towards the $1,000 support.<\/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 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 failed to clear the $1,300 resistance zone against the US Dollar. ETH is declining and there is a risk of a drop below the $1,265 support.<\/p>\nEthereum is still showing bearish signs 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 below a key rising channel with support at $1,290 on the hourly chart of ETH\/USD (data feed via Kraken).\nThe pair remains at a risk of more losses unless there is a clear move above the $1,300 level.<\/p>\nEthereum Price Remains In Downtrend<\/p>\nEthereum started a minor upside correction from the $1,265 support zone. ETH traded as low as $1,268 and recovered above the $1,280 level.<\/p>\nThere was a break above the 23.6% Fib retracement level of the downward move from the $1,338 swing high to $1,268 low. Ether price even attempted a clear move above the $1,300 resistance zone and the 100 hourly simple moving average.<\/p>\nHowever, the bulls failed to gain strength for a close above $1,300. Ethereum price failed<\/a> to clear the 50% Fib retracement level of the downward move from the $1,338 swing high to $1,268 low.<\/p>\nThere was a fresh decline from $1,300. Besides, there was a break below a key rising channel with support at $1,290 on the hourly chart of ETH\/USD. The pair is now trading below $1,300 and the 100 hourly simple moving average.<\/p>\n<\/a><\/p>\nSource: ETHUSD on TradingView.com<\/a><\/p>\nAn immediate resistance on the upside is near the $1,298 level. The first major resistance is near the $1,300 level. A clear upside break above the $1,300 resistance zone could open the doors for a steady increase. In the stated case, the price may perhaps rise towards the $1,350 resistance. Moreover, it could help bitcoin<\/a> and other altcoins in gaining pace.<\/p>\nSharp Drop 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 $1,275 level.<\/p>\nThe next major support is near the $1,265 level. A downside break below the $1,265 might start a major decline towards $1,200. Any more losses may perhaps open the gates for a move towards the $1,000 support.<\/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 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-9672","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\/9672","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=9672"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/9672\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=9672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=9672"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=9672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2022\/10\/Ethereum-10.png\"){kind=link}