{"id":427353,"date":"2020-06-14T06:28:36","date_gmt":"2020-06-14T06:28:36","guid":{"rendered":"https:\/\/wncen.com\/?p=427353"},"modified":"2024-06-11T13:04:13","modified_gmt":"2024-06-11T13:04:13","slug":"ethereum-eth-could-reverse-losses-above-240","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-could-reverse-losses-above-240\/","title":{"rendered":"Ethereum Could Reverse Losses If It Closes Above One Key Level"},"content":{"rendered":"<p><em>Ethereum declined heavily after multiple rejections near $250 against the US Dollar. ETH price is now recovering, but it must settle above $240 to start a fresh increase.<\/em><\/p>\n<ul>\n<li>ETH price is currently correcting higher from the $225 swing low against the US Dollar.<\/li>\n<li>It is now trading above the $230 level and the 100 simple moving average (4-hours).<\/li>\n<li>Earlier, there was a break below a key ascending channel with support at $244 on the 4-hours chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could also move back into a positive zone if it closes above the $240 resistance.<\/li>\n<\/ul>\n<h2>Ethereum Price is Facing Hurdles<\/h2>\n<p>This past week, Ethereum failed to settle above the <a href=\"https:\/\/wncen.com\/2020\/06\/11\/ethereum-retreats-from-250-but-100-hourly-sma-could-trigger-fresh-surge\/\" target=\"_blank\" rel=\"noopener \">$250 resistance level<\/a> against the US Dollar. As a result, ETH price started a major decline below the $245 and $240 support levels.<\/p>\n<p>The decline was initiated after there was a break below a key ascending channel with support at $244 on the 4-hours <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">chart<\/a> of ETH\/USD. The pair even broke the $230 support and the 100 simple moving average (4-hours).<\/p>\n<figure id=\"attachment_427354\" aria-describedby=\"caption-attachment-427354\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-11.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"size-full wp-image-427354\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-11.png?resize=1828%2C868\" alt=\"Ethereum Price\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-11.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-11.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-11.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-11.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-11.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-11.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-11.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-427354\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>Ether price traded as low as $225 and recently started an upside correction. It broke the $230 and $232 resistance levels. However, the bulls are currently facing hurdles near the $238 level or the 50% Fib retracement level of the recent decline from the $250 high to $225 low.<\/p>\n<p>It seems like there is a crucial hurdle forming near the $238 and $240 levels. The 61.8% Fib retracement level of the recent decline from the $250 high to $225 low is also near $241.<\/p>\n<p>A successful break above the $240 resistance zone is likely to push the <a href=\"https:\/\/wncen.com\/2020\/06\/10\/ethereum-likely-to-end-current-consolidation-with-a-strong-rally\/\" target=\"_blank\" rel=\"noopener \">price into a positive zone<\/a>. The next key resistance is near the $250 level, above which the price could surge towards the $265 level.<\/p>\n<h2>Fresh Decline in ETH?<\/h2>\n<p>On the downside, there is a decent support forming near the $234 level and the 100 simple moving average (4-hours). If Ethereum fails to stay above the $234 support, it could continue to move down below $230.<\/p>\n<p>The main supports are near the $225 and $222 levels, below which ether is likely to accelerate lower towards the $205 and $200 support levels.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for ETH\/USD is slowly moving in the bullish zone.<\/p>\n<p>4 hours RSI &#8211; The RSI for ETH\/USD is currently just below the 50 level.<\/p>\n<p>Major Support Level \u2013 $230<\/p>\n<p>Major Resistance Level \u2013 $240<\/p>\n<p><a href=\"https:\/\/www.plus500.com\/?id=121277&amp;pl=2\" target=\"_blank\" rel=\"noopener nofollow\">Take advantage of the trading opportunities with Plus500<\/a><\/p>\n<p>Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum declined heavily after multiple rejections near $250 against the US Dollar. ETH price is now recovering, but it must settle above $240 to start a fresh increase. ETH price is currently correcting higher from the $225 swing low against the US Dollar. It is now trading above the $230 level and the 100 simple moving average (4-hours). Earlier, there was a break below a key ascending channel with support at $244 on the 4-hours chart of ETH\/USD (data feed via Kraken). The pair could also move back into a positive zone if it closes above the $240 resistance. Ethereum Price is Facing Hurdles This past week, Ethereum failed to settle above the $250 resistance level against the US Dollar. As a result, ETH price started a major decline below the $245 and $240 support levels. The decline was initiated after there was a break below a key ascending channel with support at $244 on the 4-hours chart of ETH\/USD. The pair even broke the $230 support and the 100 simple moving average (4-hours). Ether price traded as low as $225 and recently started an upside correction. It broke the $230 and $232 resistance levels. However, the bulls are currently facing hurdles near the $238 level or the 50% Fib retracement level of the recent decline from the $250 high to $225 low. It seems like there is a crucial hurdle forming near the $238 and $240 levels. The 61.8% Fib retracement level of the recent decline from the $250 high to $225 low is also near $241. A successful break above the $240 resistance zone is likely to push the price into a positive zone. The next key resistance is near the $250 level, above which the price could surge towards the $265 level. Fresh Decline in ETH? On the downside, there is a decent support forming near the $234 level and the 100 simple moving average (4-hours). If Ethereum fails to stay above the $234 support, it could continue to move down below $230. The main supports are near the $225 and $222 levels, below which ether is likely to accelerate lower towards the $205 and $200 support levels. Technical Indicators 4 hours MACD \u2013 The MACD for ETH\/USD is slowly moving in the bullish zone. 4 hours RSI &#8211; The RSI for ETH\/USD is currently just below the 50 level. Major Support Level \u2013 $230 Major Resistance Level \u2013 $240 Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"author":67,"featured_media":427355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625,4],"tags":[1946,8686,78803],"class_list":["post-427353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","category-analysis","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Could Reverse Losses If It Closes Above One Key Level<\/title>\n<meta name=\"description\" content=\"Ethereum declined heavily after multiple rejections near $250 against the US Dollar. 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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 Could Reverse Losses If It Closes Above One Key Level","url":"http:\/\/wncen.com\/news\/ethereum-eth-could-reverse-losses-above-240\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-eth-could-reverse-losses-above-240\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_1545185612-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_1545185612-scaled.jpg?fit=2560%2C1581"},"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":["ethereum","ethusd","ethusdt"],"dateCreated":"2020-06-14T06:28:36Z","datePublished":"2020-06-14T06:28:36Z","dateModified":"2024-06-11T13:04:13Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Could Reverse Losses If It Closes Above One Key Level\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-eth-could-reverse-losses-above-240\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-eth-could-reverse-losses-above-240\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_1545185612-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_1545185612-scaled.jpg?fit=2560%2C1581\"},\"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\":[\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2020-06-14T06:28:36Z\",\"datePublished\":\"2020-06-14T06:28:36Z\",\"dateModified\":\"2024-06-11T13:04:13Z\"}<\/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\/06\/shutterstock_1545185612-scaled.jpg?fit=2560%2C1581","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/427353"}],"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=427353"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/427353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/427355"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=427353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=427353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=427353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}