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{"id":455032,"date":"2021-01-22T05:18:14","date_gmt":"2021-01-22T05:18:14","guid":{"rendered":"https:\/\/wncen.com\/?p=455032"},"modified":"2024-06-11T14:12:53","modified_gmt":"2024-06-11T14:12:53","slug":"ethereum-starts-recovery-resistance-1250250","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-starts-recovery-resistance-1250250\/","title":{"rendered":"TA: Ethereum Starts Recovery, Why ETH Could Face Resistance Near $1,250"},"content":{"rendered":"

Ethereum declined close to 20% and it tested the $1,050 zone against the US Dollar. ETH price is currently recovering, but it might struggle near $1,200 and $1,250.<\/em><\/p>\n

\n
Ethereum declined heavily after it broke the $1,250 and $1,200 support levels.<\/li>\n
The price is now correcting losses from $1,042, but it is well below the 100 hourly simple moving average.<\/li>\n
There is a key bearish trend line forming with resistance near $1,300 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could correct further, but the previous support near $1,250 is likely to act as a strong resistance.<\/li>\n<\/ul>\n
Ethereum Price is Recovering Losses<\/h2>\n
In the past 3-4 sessions, there was a nasty decline in bitcoin<\/a> and Ethereum below $32,000 and $1,200 respectively. ETH price nosedived almost 20% and it broke many supports such as $1,150 and $1,120.<\/p>\n
It traded close to $1,040 and settled well below the 100 hourly simple moving average. A low is formed near $1,042 and the price is currently correcting higher. There was a break above the $1,100 resistance level and the price is showing a few positive signs.<\/p>\n
Ether is trading above the 23.6% Fib retracement level of the recent decline from the $1,389 swing high to $1,042 low. On the upside, the first key resistance<\/a> is near the $1,200 level.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
The next resistance could be near $1,215 or the 50% Fib retracement level of the recent decline from the $1,389 swing high to $1,042 low. There is also a key bearish trend line forming with resistance near $1,300 on the hourly chart of ETH\/USD.<\/p>\n
If there is a clear break above $1,215, the price is likely to face a strong selling interest near the $1,250 level in the coming sessions. Any more gains could open the doors for a fresh rally towards $1,400.<\/p>\n
Fresh Dip in ETH?<\/h2>\n
If ethereum fails to recover above the $1,200 and $1,210 levels, there is a risk of a fresh decline. An initial support on the downside is near the $1,120 level.<\/p>\n
The first major support is near the $1,100 level. The main support is now forming near the $1,050 level. If ether fails to stay above the $1,050 support, it could even decline below the $1,000 support level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining pace in the bullish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is currently rising towards the 40 level.<\/p>\n
Major Support Level \u2013 $1,120<\/p>\n
Major Resistance Level \u2013 $1,250<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum declined close to 20% and it tested the $1,050 zone against the US Dollar. ETH price is currently recovering, but it might struggle near $1,200 and $1,250. Ethereum declined heavily after it broke the $1,250 and $1,200 support levels. The price is now correcting losses from $1,042, but it is well below the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,300 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct further, but the previous support near $1,250 is likely to act as a strong resistance. Ethereum Price is Recovering Losses In the past 3-4 sessions, there was a nasty decline in bitcoin and Ethereum below $32,000 and $1,200 respectively. ETH price nosedived almost 20% and it broke many supports such as $1,150 and $1,120. It traded close to $1,040 and settled well below the 100 hourly simple moving average. A low is formed near $1,042 and the price is currently correcting higher. There was a break above the $1,100 resistance level and the price is showing a few positive signs. Ether is trading above the 23.6% Fib retracement level of the recent decline from the $1,389 swing high to $1,042 low. On the upside, the first key resistance is near the $1,200 level. Source: ETHUSD on TradingView.com The next resistance could be near $1,215 or the 50% Fib retracement level of the recent decline from the $1,389 swing high to $1,042 low. There is also a key bearish trend line forming with resistance near $1,300 on the hourly chart of ETH\/USD. If there is a clear break above $1,215, the price is likely to face a strong selling interest near the $1,250 level in the coming sessions. Any more gains could open the doors for a fresh rally towards $1,400. Fresh Dip in ETH? If ethereum fails to recover above the $1,200 and $1,210 levels, there is a risk of a fresh decline. An initial support on the downside is near the $1,120 level. The first major support is near the $1,100 level. The main support is now forming near the $1,050 level. If ether fails to stay above the $1,050 support, it could even decline below the $1,000 support level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is currently rising towards the 40 level. Major Support Level \u2013 $1,120 Major Resistance Level \u2013 $1,250<\/p>\n","protected":false},"author":67,"featured_media":455034,"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-455032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nTA: Ethereum Starts Recovery, Why ETH Could Face Resistance Near $1,250<\/title>\n<meta name=\"description\" content=\"Ethereum declined close to 20% and it tested $1,050. 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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":"TA: Ethereum Starts Recovery, Why ETH Could Face Resistance Near $1,250","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-starts-recovery-resistance-1250250\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-starts-recovery-resistance-1250250\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/shutterstock_277833551.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/01\/shutterstock_277833551.jpg?fit=1000%2C707"},"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":"2021-01-22T05:18:14Z","datePublished":"2021-01-22T05:18:14Z","dateModified":"2024-06-11T14:12:53Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Starts Recovery, Why ETH Could Face Resistance Near $1,250\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-starts-recovery-resistance-1250250\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-starts-recovery-resistance-1250250\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/shutterstock_277833551.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/01\\\/shutterstock_277833551.jpg?fit=1000%2C707\"},\"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\":\"2021-01-22T05:18:14Z\",\"datePublished\":\"2021-01-22T05:18:14Z\",\"dateModified\":\"2024-06-11T14:12:53Z\"}<\/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\/2021\/01\/shutterstock_277833551.jpg?fit=1000%2C707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/455032","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=455032"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/455032\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/455034"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=455032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=455032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=455032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}