{"id":457689,"date":"2021-02-28T06:48:40","date_gmt":"2021-02-28T06:48:40","guid":{"rendered":"https:\/\/wncen.com\/?p=457689"},"modified":"2024-06-11T14:13:37","modified_gmt":"2024-06-11T14:13:37","slug":"ethereum-gains-bearish-momentum-why-eth-could-test-1280","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-gains-bearish-momentum-why-eth-could-test-1280\/","title":{"rendered":"Ethereum Gains Bearish Momentum, Why ETH Could Test $1,280"},"content":{"rendered":"<p><em>Ethereum extended its decline below $1,450 against the US Dollar. ETH price is gaining bearish momentum and it could even test the $1,280 support.<\/em><\/p>\n<ul>\n<li>ETH price remained in a bearish zone below the $1,650 and $1,700 resistance levels against the US Dollar.<\/li>\n<li>The price is trading well below $1,500 and the 100 simple moving average (4-hours).<\/li>\n<li>There is a major bearish trend line forming with resistance at $1,500 on the 4-hours chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is likely to continue lower towards the $1,280 support as long as it is below $1,500.<\/li>\n<\/ul>\n<h2>Ethereum Turns Red<\/h2>\n<p>This past week, <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-could-decline-to-41k\/\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a> and ethereum saw a steady decline below $50,000 and $1,700 respectively against the US Dollar. ETH even traded below the $1,500 support zone and settled well below the 100 simple moving average (4-hours).<\/p>\n<p>It traded as low as $1,364 before correcting higher. There was a recovery above $1,600, but ether failed to settle above $1,700. It traded as high as $1,723 before starting a <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-below-1400-sharp-decline\/\" target=\"_blank\" rel=\"noopener \">fresh decline<\/a>. It is back below $1,500 and it is approaching the $1,350 support.<\/p>\n<p>There is also a major bearish trend line forming with resistance at $1,500 on the 4-hours chart of ETH\/USD. If there are more losses, the price could move down towards the $1,280 support. It is close to the 1.236 Fib extension level of the upward move from the $1,364 low to $1,723 high.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/Ethereum-23.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-457690\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/Ethereum-23.png?resize=1944%2C1149\" alt=\"Ethereum\" width=\"1944\" height=\"1149\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/Ethereum-23.png?w=1944 1944w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/Ethereum-23.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/Ethereum-23.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/Ethereum-23.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/Ethereum-23.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/Ethereum-23.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/Ethereum-23.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/pre>\n<p>The next major support below the $1,280 level is near the $1,140 level. The 1.618 Fib extension level of the upward move from the $1,364 low to $1,723 high is also near the $1,140 level. The next major support zone is seen near the $1,100 level.<\/p>\n<h2>Upsides Limited in Ether (ETH)?<\/h2>\n<p>If Ethereum starts a fresh increase, it could correct above the $1,450 resistance. The first major resistance is near the $1,500 level and the bearish trend line.<\/p>\n<p>A close above the trend line is needed for a strong increase towards the $1,650 resistance. To start a strong increase, the price must settle above $1,700. Any more gains could open the doors for a move towards the $1,800 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n<p>4 hours RSI &#8211; The RSI for ETH\/USD is still below the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,280<\/p>\n<p>Major Resistance Level \u2013 $1,500<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum extended its decline below $1,450 against the US Dollar. ETH price is gaining bearish momentum and it could even test the $1,280 support. ETH price remained in a bearish zone below the $1,650 and $1,700 resistance levels against the US Dollar. The price is trading well below $1,500 and the 100 simple moving average (4-hours). There is a major bearish trend line forming with resistance at $1,500 on the 4-hours chart of ETH\/USD (data feed via Kraken). The pair is likely to continue lower towards the $1,280 support as long as it is below $1,500. Ethereum Turns Red This past week, bitcoin and ethereum saw a steady decline below $50,000 and $1,700 respectively against the US Dollar. ETH even traded below the $1,500 support zone and settled well below the 100 simple moving average (4-hours). It traded as low as $1,364 before correcting higher. There was a recovery above $1,600, but ether failed to settle above $1,700. It traded as high as $1,723 before starting a fresh decline. It is back below $1,500 and it is approaching the $1,350 support. There is also a major bearish trend line forming with resistance at $1,500 on the 4-hours chart of ETH\/USD. If there are more losses, the price could move down towards the $1,280 support. It is close to the 1.236 Fib extension level of the upward move from the $1,364 low to $1,723 high. Source: ETHUSD on TradingView.com The next major support below the $1,280 level is near the $1,140 level. The 1.618 Fib extension level of the upward move from the $1,364 low to $1,723 high is also near the $1,140 level. The next major support zone is seen near the $1,100 level. Upsides Limited in Ether (ETH)? If Ethereum starts a fresh increase, it could correct above the $1,450 resistance. The first major resistance is near the $1,500 level and the bearish trend line. A close above the trend line is needed for a strong increase towards the $1,650 resistance. To start a strong increase, the price must settle above $1,700. Any more gains could open the doors for a move towards the $1,800 level. Technical Indicators 4 hours MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone. 4 hours RSI &#8211; The RSI for ETH\/USD is still below the 50 level. Major Support Level \u2013 $1,280 Major Resistance Level \u2013 $1,500<\/p>\n","protected":false},"author":67,"featured_media":457691,"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-457689","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Gains Bearish Momentum, Why ETH Could Test $1,280<\/title>\n<meta name=\"description\" content=\"Ethereum extended its decline below $1,450 against the US Dollar. ETH price is gaining bearish momentum and it could even test the $1,280 support. 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ETH price is gaining bearish momentum and it could even test the $1,280 support. 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