{"id":454852,"date":"2021-01-20T05:18:37","date_gmt":"2021-01-20T05:18:37","guid":{"rendered":"https:\/\/wncen.com\/?p=454852"},"modified":"2024-06-11T14:12:51","modified_gmt":"2024-06-11T14:12:51","slug":"ethereum-corrects-lower-eth-1280","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-corrects-lower-eth-1280\/","title":{"rendered":"TA: Ethereum Corrects Lower, Why Dips In ETH Remain Attractive"},"content":{"rendered":"
Ethereum traded as high as $1,437 before starting a downside correction against the US Dollar. ETH price is approaching a key support at $1,340 and $1,320.<\/em><\/p>\n Yesterday, we saw a sharp increase<\/a> in Ethereum above $1,350 and $1,400. ETH price traded above the $1,420 resistance, and traded as high as $1,437 before starting a downside correction.<\/p>\n There was a short-term downside correction below the $1,400 level. There was a break below the 23.6% Fib retracement level of the upward wave from the $1,215 swing low to $1,437 high. Ether is now trading below the $1,380 and it is approaching a couple of important supports<\/a> at $1,340.<\/p>\n <\/a><\/p>\n There is also a major declining channel forming with support near $1,340 on the hourly chart of ETH\/USD. An immediate support is near the $1,325 level, where the bulls are likely to take control.<\/p>\n The 50% Fib retracement level of the upward wave from the $1,215 swing low to $1,437 high. If there is a downside break below $1,325, there are chances of a drop towards the $1,280 level. The 100 hourly simple moving average is also near the $1,280 support zone. Any more losses could lead the price towards the $1,250 and $1,220 support levels.<\/p>\n If ethereum remains stable above $1,280 support zone, it could start a fresh increase. An initial resistance is near the $1,400 level and the channel upper trend line.<\/p>\n A close above the channel resistance could open the doors for more gains towards the $1,440 level. A clear break above the $1,440 zone could clear the path for a push towards the $1,500 resistance zone in the coming sessions. The next key target could be near the $1,550 and $1,580 levels.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now slowly gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is correcting lower below the 50 level.<\/p>\n Major Support Level \u2013 $1,280<\/p>\n Major Resistance Level \u2013 $1,400<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum traded as high as $1,437 before starting a downside correction against the US Dollar. ETH price is approaching a key support at $1,340 and $1,320. Ethereum surged above $1,400 and traded towards the $1,440 zone. The price is currently correcting lower from $1,437, but it is well above the 100 hourly simple moving average. There is a major declining channel forming with support near $1,340 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct further, but the price is likely to remain stable above $1,340 and $1,325. Ethereum Price is Correcting Gains Yesterday, we saw a sharp increase in Ethereum above $1,350 and $1,400. ETH price traded above the $1,420 resistance, and traded as high as $1,437 before starting a downside correction. There was a short-term downside correction below the $1,400 level. There was a break below the 23.6% Fib retracement level of the upward wave from the $1,215 swing low to $1,437 high. Ether is now trading below the $1,380 and it is approaching a couple of important supports at $1,340. Source: ETHUSD on TradingView.com There is also a major declining channel forming with support near $1,340 on the hourly chart of ETH\/USD. An immediate support is near the $1,325 level, where the bulls are likely to take control. The 50% Fib retracement level of the upward wave from the $1,215 swing low to $1,437 high. If there is a downside break below $1,325, there are chances of a drop towards the $1,280 level. The 100 hourly simple moving average is also near the $1,280 support zone. Any more losses could lead the price towards the $1,250 and $1,220 support levels. Fresh Increase in ETH? If ethereum remains stable above $1,280 support zone, it could start a fresh increase. An initial resistance is near the $1,400 level and the channel upper trend line. A close above the channel resistance could open the doors for more gains towards the $1,440 level. A clear break above the $1,440 zone could clear the path for a push towards the $1,500 resistance zone in the coming sessions. The next key target could be near the $1,550 and $1,580 levels. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now slowly gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is correcting lower below the 50 level. Major Support Level \u2013 $1,280 Major Resistance Level \u2013 $1,400<\/p>\n","protected":false},"author":67,"featured_media":454854,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-454852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price is Correcting Gains<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in ETH?<\/h2>\n