Ethereum extended decline below the $1,820 support against the US Dollar. ETH tested $1,730 and remains at a risk of more downsides in the near term. Ethereum gained bearish momentum and declined below $1,820. The price is now trading below $1,800 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD (data feed via Kraken). The pair is struggling and remains at a risk of more losses below $1,700. Ethereum Price Gains Bearish Momentum Ethereum remained below the $2,000 resistance zone and 100 hourly simple moving average. As a result, there was a sharp bearish reaction below the $1,920 support. The bears were able to push the price below $1,820 and $1,800. The price declined over 10% and traded below $1,750. A low is formed near $1,727 and the price is now consolidating losses. On the upside, an initial resistance is near the $1,770 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,911 swing high to $1,727 low. The next major resistance is near the $1,820 level. It is close to the 50% Fib retracement level of the recent decline from the $1,911 swing high to $1,727 low. The main resistance is now forming near the $1,920 level. There is also a key bearish trend line forming with resistance near $1,910 on the hourly chart of ETH/USD. A close above the $1,920 level could open the doors for a steady increase. Source: ETHUSD on TradingView.com In the stated case, ether price could rise towards the $2,000 resistance zone. Any more gains may perhaps send it towards the key $2,085 resistance zone. More Losses in ETH? If ethereum fails to recover above the $1,820 resistance, it could continue to move down. An initial support on the downside is near the $1,730 zone. The next major support is near the $1,700 level. A downside break below the $1,700 level might call for another sharp decline. In the stated case, the price could dive towards the $1,650 level. Any more losses may perhaps call for a move to $1,500. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 40 level. Major Support Level – $1,720 Major Resistance Level – $1,820
View full article at NewsbtcBackground Photo by Cole Keister on Unsplash
Quant Hedge Fund Two Sigma Hirin...
Cream Plunges on News That Hack ...
Indian National Congress Accuses...
CoinTelegraph (cointelegraph.com)
Meta’s letting Xbox, Lenovo, a...
Tokenization’s next phase requ...
Bitcoin analysts agree that BTC ...
Bitcoin News (news.bitcoin.com)
Despite Runes’ Transaction Dom...
Edward Snowden Defends Crypto Pr...
Nigerian Central Bank Disavows L...
Investment Giant Morgan Stanley ...
Nigerian Crackdown Fake News? CB...
Spot Bitcoin ETFs To Hit Hong Ko...
Herake Casino Review: 110% Crypt...
BlockDAG Aims $5M Daily Sales &a...
Research Reveals Mobile Devices ...
Morgan Stanley considers allowin...
High Bitcoin fees push active ad...
Are Inscriptions following the p...
Why Is The Crypto Market Down To...
Bitcoin Price Trims Gains Amid W...
Newbie Bitcoin Whales Hold 2x As...
CryptoGazette (cryptogazette.com)
Another Day, Another Banking Sca...
US Banking Giant Pays $249,000,0...
Cardano To Explode by Over 1,300...
Solana congestion continues desp...
Bitcoin FOMO rises – Is this w...
Ethereum starts to rally post Bi...
XRP Price Analysis: Top Crypto E...
6 Best Bitcoin & Crypto Clou...
Ethereum Sees Decline In Whale I...
Celebrities May Have Their Dirty...
3 Ways Bitcoin Traders Can Spot ...
Blockchain as an Infrastructure:...
BinaryX Releases RhinoX Whitepap...
StreamCoin’s 1st Anniversary: ...
Ukrainian Real Agriculture Busin...
Benchmark Protocol (medium.combenchmarkprotocol)
Benchmark Protocol celebrates 1 ...
Benchmark Protocol Integrates Ch...
Bitcoin Magazine (bitcoinmagazine.com)
Bitcoin Mixing Service Samourai ...
The State Of Things: Open Source...
Hong Kong Bitcoin ETFs to Trade ...
Bitcoin.com (news.bitcoin.com)
Australian, Indonesian Tax Bodie...
Tesla Maintains Bitcoin Holdings...
US Prosecutors Seek 36-Month Sen...
This Ultra Light AI Model Fits o...
Bitcoin Runes Transactions Are T...
Who are Samourai Wallet’s Keon...
Getting a job in crypto just got...
Do Kwon appeal claims lawyers h...