{"id":417591,"date":"2020-03-10T03:28:05","date_gmt":"2020-03-10T03:28:05","guid":{"rendered":"https:\/\/wncen.com\/?p=417591"},"modified":"2024-06-11T13:43:09","modified_gmt":"2024-06-11T13:43:09","slug":"ethereum-recovery-could-be-short-lived","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-recovery-could-be-short-lived\/","title":{"rendered":"Ethereum Recovery Could Be Short Lived Near This Key Resistance"},"content":{"rendered":"<p><em>Ethereum is extended its decline below the $200 support area against the US Dollar. ETH price traded as low as $188 and it is currently correcting higher towards $205 and $208.<\/em><\/p>\n<ul>\n<li>Ethereum is currently recovering losses from the $188 monthly low against the US Dollar.<\/li>\n<li>The price is likely to face a lot of hurdles on the upside near $208 and $212.<\/li>\n<li>There was a break above a major declining channel with resistance near $199 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li><a href=\"https:\/\/wncen.com\/category\/crypto\/bitcoin\/\" target=\"_blank\" rel=\"noopener noreferrer \">Bitcoin<\/a> price is now trading well below the $8,000 level, with a bearish angle<\/li>\n<\/ul>\n<h2>Ethereum Price Facing Hurdles<\/h2>\n<p>Yesterday, we saw a <a href=\"https:\/\/wncen.com\/2020\/03\/09\/ethereum-nosedives-185-looming\/\" target=\"_blank\" rel=\"noopener noreferrer \">massive 15% decline in Ethereum<\/a> below the $220 and $215 support levels against the US Dollar. ETH price even spiked below the $200 handle and settled well below the 100 hourly simple moving average.<\/p>\n<p>A new monthly low is formed near the $188 level and the price is currently correcting higher. There was a break above the $195 level, plus the 23.6% Fib retracement level of the downward move from the $233 high to $188 low.<\/p>\n<p>Moreover, there was a break above a major declining channel with resistance near $199 on the hourly <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a> of ETH\/USD. Ethereum is now trading near the $200 level and facing a lot of hurdles on the upside.<\/p>\n<figure id=\"attachment_417592\" aria-describedby=\"caption-attachment-417592\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-10.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-417592\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-10.png?resize=1828%2C868\" alt=\"Ethereum Price\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-10.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-10.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-10.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-10.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-10.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-10.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-10.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-417592\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>An initial resistance is near the $205 level. The first major resistance is near the $208 and $212 levels (the recent breakdown zone). The 50% Fib retracement level of the downward move from the $233 high to $188 low is also near the $212 level to act as a major hurdle.<\/p>\n<p>Any further gains could lead the price towards the $218 resistance level and the 100 hourly simple moving average, where the bears are likely to take a stand. A successful break and close above $220 is needed to start a fresh increase in the near term.<\/p>\n<h2>More Losses?<\/h2>\n<p>If Ethereum fails to recover above the $208 and $212 resistance levels, it could start another decline. An initial support is near the $195 level, below which there is a risk of more losses towards $185.<\/p>\n<p>A downside break below the $185 level may perhaps be seen as a major bearish signal and it could lead the price towards the $150 zone in the coming days.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is about to move back into the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently struggling to move above the 50 level.<\/p>\n<p>Major Support Level \u2013 $195<\/p>\n<p>Major Resistance Level \u2013 $212<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is extended its decline below the $200 support area against the US Dollar. ETH price traded as low as $188 and it is currently correcting higher towards $205 and $208. Ethereum is currently recovering losses from the $188 monthly low against the US Dollar. The price is likely to face a lot of hurdles on the upside near $208 and $212. There was a break above a major declining channel with resistance near $199 on the hourly chart of ETH\/USD (data feed via Kraken). Bitcoin price is now trading well below the $8,000 level, with a bearish angle Ethereum Price Facing Hurdles Yesterday, we saw a massive 15% decline in Ethereum below the $220 and $215 support levels against the US Dollar. ETH price even spiked below the $200 handle and settled well below the 100 hourly simple moving average. A new monthly low is formed near the $188 level and the price is currently correcting higher. There was a break above the $195 level, plus the 23.6% Fib retracement level of the downward move from the $233 high to $188 low. Moreover, there was a break above a major declining channel with resistance near $199 on the hourly chart of ETH\/USD. Ethereum is now trading near the $200 level and facing a lot of hurdles on the upside. An initial resistance is near the $205 level. The first major resistance is near the $208 and $212 levels (the recent breakdown zone). The 50% Fib retracement level of the downward move from the $233 high to $188 low is also near the $212 level to act as a major hurdle. Any further gains could lead the price towards the $218 resistance level and the 100 hourly simple moving average, where the bears are likely to take a stand. A successful break and close above $220 is needed to start a fresh increase in the near term. More Losses? If Ethereum fails to recover above the $208 and $212 resistance levels, it could start another decline. An initial support is near the $195 level, below which there is a risk of more losses towards $185. A downside break below the $185 level may perhaps be seen as a major bearish signal and it could lead the price towards the $150 zone in the coming days. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is about to move back into the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently struggling to move above the 50 level. Major Support Level \u2013 $195 Major Resistance Level \u2013 $212<\/p>\n","protected":false},"author":67,"featured_media":417593,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625,4],"tags":[8323,1946],"class_list":["post-417591","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","category-analysis","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Recovery Could Be Short Lived Near This Key Resistance<\/title>\n<meta name=\"description\" content=\"Ethereum is extended its decline below the $200 support area. 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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. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Recovery Could Be Short Lived Near This Key Resistance","url":"http:\/\/wncen.com\/news\/ethereum-recovery-could-be-short-lived\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-recovery-could-be-short-lived\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/shutterstock_587323760.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/shutterstock_587323760.jpg?fit=1000%2C745"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum"],"dateCreated":"2020-03-10T03:28:05Z","datePublished":"2020-03-10T03:28:05Z","dateModified":"2024-06-11T13:43:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Recovery Could Be Short Lived Near This Key Resistance\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-recovery-could-be-short-lived\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-recovery-could-be-short-lived\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/shutterstock_587323760.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/03\\\/shutterstock_587323760.jpg?fit=1000%2C745\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\"],\"dateCreated\":\"2020-03-10T03:28:05Z\",\"datePublished\":\"2020-03-10T03:28:05Z\",\"dateModified\":\"2024-06-11T13:43:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/shutterstock_587323760.jpg?fit=1000%2C745","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/417591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=417591"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/417591\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/417593"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=417591"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=417591"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=417591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}