{"id":387684,"date":"2019-06-27T03:08:15","date_gmt":"2019-06-27T03:08:15","guid":{"rendered":"https:\/\/wncen.com\/?p=387684"},"modified":"2024-06-11T13:44:40","modified_gmt":"2024-06-11T13:44:40","slug":"ethereum-eth-price-dips-present-buying-opportunity","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-dips-present-buying-opportunity\/","title":{"rendered":"Ethereum (ETH) Price Corrects Sharply: Dips Present Buying Opportunity"},"content":{"rendered":"<ul>\n<li>ETH price surged higher and broke the $340 and $350 resistances against the US Dollar.<\/li>\n<li>The price traded to a new 2019 high at $363 before it started a major downside correction.<\/li>\n<li>Yesterday\u2019s highlighted major bullish trend line prevented losses with support near $320 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li><a href=\"https:\/\/wncen.com\/2019\/06\/26\/bitcoin-smashes-12k-crypto-cap-up-25-billion-bch-ltc-eos-ada-analysis\/\" target=\"_blank\" rel=\"noopener noreferrer \">Bitcoin<\/a> price surged towards the $14,000 level before correcting below $13,000.<\/li>\n<\/ul>\n<p><em>Ethereum price is currently correcting recent gains versus the US Dollar and bitcoin. ETH price is likely to stay above the $320 support and it could bounce back in the near term.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>Yesterday, there was a <a href=\"https:\/\/wncen.com\/2019\/06\/26\/bitcoin-price-smacks-12-5k-btc-could-continue\/\" target=\"_blank\" rel=\"noopener noreferrer \">strong rise in bitcoin<\/a> above $13,000 and $13,500, resulting in bullish moves in Ethereum price against the US Dollar. The ETH\/USD pair started a strong upward move and broke the $340 and $350 resistance levels. There was also a close above the $340 level and the 100 hourly simple moving average. The price formed a new 2019 high near $363 before it started a strong downside correction.<\/p>\n<p>The price declined below the $350 and $340 levels. It even spiked below the $325 support level. However, the $320 support acted as a <a href=\"https:\/\/wncen.com\/2019\/06\/26\/ethereum-eth-price-can-it-rally-similar-to-bitcoin\/\" target=\"_blank\" rel=\"noopener noreferrer \">strong buy zone<\/a>. Moreover, yesterday\u2019s highlighted major bullish trend line prevented losses with support near $320 on the hourly chart of ETH\/USD. The pair is currently recovering and it recently climbed above the 23.6% Fib retracement level of the recent decline from the $363 high to $316 swing low.<\/p>\n<p>However, the $340 level is once again acting as a resistance. Moreover, the 50% Fib retracement level of the recent decline from the $363 high to $316 swing low is acting as a resistance. The price is currently moving lower, but there are many supports near the $325 and $320 level. The main support is $320 and 100 hourly simple moving average.<\/p>\n<p>As long as the price is above the $320 support, it is likely to bounce back above $340 in the near term. The next important resistance is at $350, above which the price may even climb towards the last swing high at $363.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-387685\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?resize=1828%2C868\" alt=\"Ethereum Price Analysis ETH Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?w=130 130w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?w=104 104w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?w=83 83w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/06\/Ethereum-18.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, Ethereum price is clearly correcting recent gains, but it must stay above the $320 level. If the bulls fail to defend the $320 support, there is a risk of a downside break. The next important support is near $316, below which the price may even test the $300 handle.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is currently gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD recovered from the 42 level and it is currently near the 51 level.<\/p>\n<p>Major Support Level \u2013 $320<\/p>\n<p>Major Resistance Level \u2013 $340<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH price surged higher and broke the $340 and $350 resistances against the US Dollar. The price traded to a new 2019 high at $363 before it started a major downside correction. Yesterday\u2019s highlighted major bullish trend line prevented losses with support near $320 on the hourly chart of ETH\/USD (data feed via Kraken). Bitcoin price surged towards the $14,000 level before correcting below $13,000. Ethereum price is currently correcting recent gains versus the US Dollar and bitcoin. ETH price is likely to stay above the $320 support and it could bounce back in the near term. Ethereum Price Analysis Yesterday, there was a strong rise in bitcoin above $13,000 and $13,500, resulting in bullish moves in Ethereum price against the US Dollar. The ETH\/USD pair started a strong upward move and broke the $340 and $350 resistance levels. There was also a close above the $340 level and the 100 hourly simple moving average. The price formed a new 2019 high near $363 before it started a strong downside correction. The price declined below the $350 and $340 levels. It even spiked below the $325 support level. However, the $320 support acted as a strong buy zone. Moreover, yesterday\u2019s highlighted major bullish trend line prevented losses with support near $320 on the hourly chart of ETH\/USD. The pair is currently recovering and it recently climbed above the 23.6% Fib retracement level of the recent decline from the $363 high to $316 swing low. However, the $340 level is once again acting as a resistance. Moreover, the 50% Fib retracement level of the recent decline from the $363 high to $316 swing low is acting as a resistance. The price is currently moving lower, but there are many supports near the $325 and $320 level. The main support is $320 and 100 hourly simple moving average. As long as the price is above the $320 support, it is likely to bounce back above $340 in the near term. The next important resistance is at $350, above which the price may even climb towards the last swing high at $363. Looking at the chart, Ethereum price is clearly correcting recent gains, but it must stay above the $320 level. If the bulls fail to defend the $320 support, there is a risk of a downside break. The next important support is near $316, below which the price may even test the $300 handle. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is currently gaining momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD recovered from the 42 level and it is currently near the 51 level. Major Support Level \u2013 $320 Major Resistance Level \u2013 $340<\/p>\n","protected":false},"author":67,"featured_media":344603,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8323,1946],"class_list":["post-387684","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum (ETH) Price Corrects Sharply: Dips Present Buying Opportunity<\/title>\n<meta name=\"description\" content=\"Ethereum price is currently correcting recent gains versus the US Dollar and bitcoin. 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Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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