{"id":428772,"date":"2020-06-28T06:48:40","date_gmt":"2020-06-28T06:48:40","guid":{"rendered":"https:\/\/wncen.com\/?p=428772"},"modified":"2024-06-12T09:20:17","modified_gmt":"2024-06-12T09:20:17","slug":"ethereum-eth-vulnerable-to-200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-vulnerable-to-200\/","title":{"rendered":"Ethereum Is Plunging and Its Vulnerable For A Drop To $200"},"content":{"rendered":"
Ethereum is declining and trading below the $225 support against the US Dollar. ETH price remains at a risk of more losses and it might revisit the $200 support.<\/em><\/p>\n This past week, Ethereum started a major downward move below the $235 support against the US Dollar. ETH price broke the $225 support level<\/a> and settled well below the 100 simple moving average (4-hours).<\/p>\n It opened the doors for more losses and the price tested the $215 level. Ether is currently consolidating losses above the $215 level, but there are many bearish signs visible.<\/p>\n An initial resistance is near the $222 and $224 levels. The 23.6% Fib retracement level of the downward move from the $249 high to $215 low is also near the $224 level. More importantly, there is a crucial bearish trend line forming with resistance near $225 on the 4-hours chart of ETH\/USD.<\/p>\n <\/a><\/p>\n If ether price breaks the trend line resistance and $225, it could recover towards the next major resistance at $232 and the 100 simple moving average (4-hours). The 50% Fib retracement level of the downward move from the $249 high to $215 low is also near $232.<\/p>\n Therefore, the price is likely to struggle big time near the $225 and $232 resistance levels. The bulls need to gain momentum<\/a> above $225 for a successful bullish push above the $232 barrier.<\/p>\n The first support for Ethereum is visible near the $215 level. If the bears manage to push the price below the $215 level, there could be a 3%-5% drop.<\/p>\n In the mentioned case, the price is likely to test the $205 and $200 support levels. Any further losses might open the doors for a push towards $185 support.<\/p>\n Technical Indicators<\/p>\n 4 hours MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bearish zone.<\/p>\n 4 hours RSI – The RSI for ETH\/USD is currently well below the 40 level.<\/p>\n Major Support Level \u2013 $215<\/p>\n Major Resistance Level \u2013 $225<\/p>\n\n
Ethereum Price Settles Below $225<\/h2>\n
Ethereum price trades below $225. Source: TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n