{"id":396913,"date":"2019-09-24T03:08:03","date_gmt":"2019-09-24T03:08:03","guid":{"rendered":"https:\/\/wncen.com\/?p=396913"},"modified":"2024-06-11T13:25:44","modified_gmt":"2024-06-11T13:25:44","slug":"ethereum-eth-price-smashes-support-more-downsides-possible","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/","title":{"rendered":"Ethereum (ETH) Price Smashes Support, More Downsides Possible"},"content":{"rendered":"<ul>\n<li>ETH price is under a lot of pressure and it recently broke the $202 support against the US Dollar.<\/li>\n<li>The price is likely to continue lower towards the $195 and $192 support levels in the near term.<\/li>\n<li>There are two major bearish trend lines forming with resistance near $208 and $210 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could correct higher, but upsides are likely to be capped near the $210 level.<\/li>\n<\/ul>\n<p><em>Ethereum price is extending its decline versus the US Dollar and <a href=\"https:\/\/wncen.com\/2019\/09\/23\/bitcoin-price-btc-watch-here-is-why-bulls-must-be-careful\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>. ETH price could continue to decline and it might soon test the $192 support.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>After a failed attempt near $215, ETH price started a downward move against the US Dollar. The price traded below the $212 and $210 support levels. Moreover, it settled below the $210 level and the 100 hourly simple moving average. More importantly, the price broke the <a href=\"https:\/\/wncen.com\/2019\/09\/23\/ethereum-eth-price-could-retest-200-before-fresh-increase\/\" target=\"_blank\" rel=\"noopener noreferrer \">$202 and $200 support levels<\/a>. A new weekly low was formed near $198 and the price is currently consolidating losses.<\/p>\n<p>It is testing the 23.6% Fib retracement level of the latest drop from the $210 high to $198 low. It seems like the previous support near $202 is acting as a resistance. On the upside, there are many key resistances near the $205, $208 and $210 levels. Moreover, there are two major bearish trend lines forming with resistance near $208 and $210 on the hourly chart of ETH\/USD.<\/p>\n<p>The 50% Fib retracement level of the latest drop from the $210 high to $198 low is near $205 to act as a solid resistance. The main resistance is near the first trend line, the 100 hourly SMA, and $208. If there is an upside break above $208 and $210, Ethereum price will most likely move back into a positive zone. The next key resistance is near the $220 level, above which it could retest $225.<\/p>\n<p>Conversely, if the price fails to surpass the $208 and $210 resistance levels, it might continue to decline. An immediate support is near the $198 low. If there is a downside break below $198, the price is likely to test the $195 and $192 support levels.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-396914\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png?resize=1828%2C868\" alt=\"Ethereum Price Analysis ETH Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png?w=130 130w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png?w=104 104w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png?w=83 83w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/09\/Ethereum-19.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 declining and is trading below a few key resistances such as $208 and $210. As long as the price is trading below the $210 support, there are chances of a downside extension towards the $192 level.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is currently placed heavily in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently correcting higher from the 20 level.<\/p>\n<p>Major Support Level \u2013 $192<\/p>\n<p>Major Resistance Level \u2013 $210<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH price is under a lot of pressure and it recently broke the $202 support against the US Dollar. The price is likely to continue lower towards the $195 and $192 support levels in the near term. There are two major bearish trend lines forming with resistance near $208 and $210 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct higher, but upsides are likely to be capped near the $210 level. Ethereum price is extending its decline versus the US Dollar and bitcoin. ETH price could continue to decline and it might soon test the $192 support. Ethereum Price Analysis After a failed attempt near $215, ETH price started a downward move against the US Dollar. The price traded below the $212 and $210 support levels. Moreover, it settled below the $210 level and the 100 hourly simple moving average. More importantly, the price broke the $202 and $200 support levels. A new weekly low was formed near $198 and the price is currently consolidating losses. It is testing the 23.6% Fib retracement level of the latest drop from the $210 high to $198 low. It seems like the previous support near $202 is acting as a resistance. On the upside, there are many key resistances near the $205, $208 and $210 levels. Moreover, there are two major bearish trend lines forming with resistance near $208 and $210 on the hourly chart of ETH\/USD. The 50% Fib retracement level of the latest drop from the $210 high to $198 low is near $205 to act as a solid resistance. The main resistance is near the first trend line, the 100 hourly SMA, and $208. If there is an upside break above $208 and $210, Ethereum price will most likely move back into a positive zone. The next key resistance is near the $220 level, above which it could retest $225. Conversely, if the price fails to surpass the $208 and $210 resistance levels, it might continue to decline. An immediate support is near the $198 low. If there is a downside break below $198, the price is likely to test the $195 and $192 support levels. Looking at the chart, Ethereum price is clearly declining and is trading below a few key resistances such as $208 and $210. As long as the price is trading below the $210 support, there are chances of a downside extension towards the $192 level. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is currently placed heavily in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently correcting higher from the 20 level. Major Support Level \u2013 $192 Major Resistance Level \u2013 $210<\/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-396913","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 Smashes Support, More Downsides Possible<\/title>\n<meta name=\"description\" content=\"Ethereum price is extending its decline versus the US Dollar and bitcoin. 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ETH price could continue to decline and it might soon test the $192 support.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-24T03:08:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:25:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.jpg?fit=1200%2C600\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aayush Jindal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@twitter.com\/AayushJs\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aayush Jindal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum (ETH) Price Smashes Support, More Downsides Possible\",\"datePublished\":\"2019-09-24T03:08:03+00:00\",\"dateModified\":\"2024-06-11T13:25:44+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/\"},\"wordCount\":411,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.jpg?fit=1200%2C600\",\"keywords\":[\"ETH\",\"ethereum\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/\",\"name\":\"Ethereum (ETH) Price Smashes Support, More Downsides Possible\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-price-smashes-support-more-downsides-possible\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.jpg?fit=1200%2C600\",\"datePublished\":\"2019-09-24T03:08:03+00:00\",\"dateModified\":\"2024-06-11T13:25:44+00:00\",\"description\":\"Ethereum price is extending its decline versus the US Dollar and bitcoin. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. 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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