{"id":428856,"date":"2020-06-29T06:58:45","date_gmt":"2020-06-29T06:58:45","guid":{"rendered":"https:\/\/wncen.com\/?p=428856"},"modified":"2024-06-11T13:06:36","modified_gmt":"2024-06-11T13:06:36","slug":"ethereum-facing-uphill-task-228","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-facing-uphill-task-228\/","title":{"rendered":"Ethereum Facing Uphill Task Near $228: Here\u2019s Why It Could Tumble"},"content":{"rendered":"<p><em>Ethereum is currently recovering from the $216 swing low against the US Dollar. ETH is now facing an uphill task near $228-$230, and it could resume its slide.<\/em><\/p>\n<ul>\n<li>Ethereum is currently trading above the $220 and $222 resistance levels.<\/li>\n<li>The price is now facing a crucial resistance near the $228 level and the 100 hourly simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $226 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could resume its decline if it fails to clear the $226 and $228 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price is Near Crucial Juncture<\/h2>\n<p>After a strong decline below $225, <a href=\"https:\/\/www.plus500.com\/?id=121277&amp;pl=2\" target=\"_blank\" rel=\"noopener nofollow\">Ethereum found support near the $215 region<\/a> against the US Dollar. ETH price traded as low as $216 and recently started an upside correction above the $220 level.<\/p>\n<p>The price was able to climb above the $220 and $222 resistance levels. However, ether seems to be facing a crucial resistance near the $228 level and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $226 on the hourly chart of ETH\/USD.<\/p>\n<p>The pair is currently consolidating near the 23.6% Fib retracement level of the recent move from the $216 swing low to $228 high. An initial support is near the $222 level (the recent breakout zone).<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-24.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" width=\"1828\" height=\"868\" class=\"alignnone size-full wp-image-428857\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-24.png?resize=1828%2C868\" alt=\"Ethereum price \" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-24.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-24.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-24.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-24.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-24.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-24.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/Ethereum-24.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Ethereum price testing $225: Source: <a href=\"https:\/\/www.plus500.com\/?id=121277&amp;pl=2\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/pre>\n<p>The 50% Fib retracement level of the recent move from the $216 swing low to $228 high is also near $222. On the upside, the price is clearly facing a major hurdle near the $228 and $230 levels. To move into a <a href=\"https:\/\/www.plus500.com\/?id=121277&amp;pl=2\" target=\"_blank\" rel=\"noopener nofollow\">positive zone<\/a>, the bulls need to clear the $230 resistance and settle above the 100 hourly simple moving average.<\/p>\n<h2>Fresh Decline in ETH?<\/h2>\n<p>If Ethereum fails to clear the $228 and $230 resistance levels, it is likely to resume its decline. The $222 support might prevent the decline in the short term.<\/p>\n<p>A successful break below the $222 support zone will most likely start a fresh decline. In the mentioned case, the price could revisit the $215 support region in the coming sessions.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is about to move into the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is just above the 50 level, with a bearish angle.<\/p>\n<p>Major Support Level \u2013 $222<\/p>\n<p>Major Resistance Level \u2013 $230<\/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 is currently recovering from the $216 swing low against the US Dollar. ETH is now facing an uphill task near $228-$230, and it could resume its slide. Ethereum is currently trading above the $220 and $222 resistance levels. The price is now facing a crucial resistance near the $228 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $226 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could resume its decline if it fails to clear the $226 and $228 resistance levels. Ethereum Price is Near Crucial Juncture After a strong decline below $225, Ethereum found support near the $215 region against the US Dollar. ETH price traded as low as $216 and recently started an upside correction above the $220 level. The price was able to climb above the $220 and $222 resistance levels. However, ether seems to be facing a crucial resistance near the $228 level and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $226 on the hourly chart of ETH\/USD. The pair is currently consolidating near the 23.6% Fib retracement level of the recent move from the $216 swing low to $228 high. An initial support is near the $222 level (the recent breakout zone). Ethereum price testing $225: Source: TradingView.com The 50% Fib retracement level of the recent move from the $216 swing low to $228 high is also near $222. On the upside, the price is clearly facing a major hurdle near the $228 and $230 levels. To move into a positive zone, the bulls need to clear the $230 resistance and settle above the 100 hourly simple moving average. Fresh Decline in ETH? If Ethereum fails to clear the $228 and $230 resistance levels, it is likely to resume its decline. The $222 support might prevent the decline in the short term. A successful break below the $222 support zone will most likely start a fresh decline. In the mentioned case, the price could revisit the $215 support region in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is about to move into the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is just above the 50 level, with a bearish angle. Major Support Level \u2013 $222 Major Resistance Level \u2013 $230 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":428858,"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-428856","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 Facing Uphill Task Near $228: Here\u2019s Why It Could Tumble<\/title>\n<meta name=\"description\" content=\"Ethereum is currently recovering from the $216 swing low 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 Facing Uphill Task Near $228: Here\u2019s Why It Could Tumble","url":"http:\/\/wncen.com\/news\/ethereum-facing-uphill-task-228\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-facing-uphill-task-228\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_214477618.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/shutterstock_214477618.jpg?fit=1000%2C664"},"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":"2020-06-29T06:58:45Z","datePublished":"2020-06-29T06:58:45Z","dateModified":"2024-06-11T13:06:36Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Facing Uphill Task Near $228: Here\\u2019s Why It Could Tumble\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-facing-uphill-task-228\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-facing-uphill-task-228\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_214477618.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/shutterstock_214477618.jpg?fit=1000%2C664\"},\"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\":\"2020-06-29T06:58:45Z\",\"datePublished\":\"2020-06-29T06:58:45Z\",\"dateModified\":\"2024-06-11T13:06:36Z\"}<\/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_214477618.jpg?fit=1000%2C664","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/428856"}],"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=428856"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/428856\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/428858"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=428856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=428856"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=428856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}