{"id":466697,"date":"2021-07-02T05:28:32","date_gmt":"2021-07-02T05:28:32","guid":{"rendered":"https:\/\/wncen.com\/?p=466697"},"modified":"2024-06-11T07:28:09","modified_gmt":"2024-06-11T07:28:09","slug":"ethereum-drop-below-2k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-drop-below-2k\/","title":{"rendered":"TA: Why Ethereum (ETH) Key Indicators Suggest Fresh Drop Below $2K"},"content":{"rendered":"
Ethereum failed to stay above $2,100 and it is now moving lower against the US Dollar. ETH price is likely to continue lower and it could even break $2,000.<\/em><\/p>\n After struggling to stay above $2,250, ethereum started a fresh decline. ETH broke the $2,200 and $2,150 support levels<\/a> to move into a short-term bearish zone.<\/p>\n The price gained pace below the $2,150 level and it even broke $2,120. There was a break below the 23.6% Fib retracement level of the upward move from the $1,718 swing low to $2,289 high. There was also a break below a major bullish trend line with support near $2,100 on the hourly chart of ETH\/USD.<\/p>\n The pair is now trading below $2,100 and the 100 hourly simple moving average<\/a>. An immediate support on the downside is near the $2,050 level. The first major support is near the $2,000 level.<\/p>\n <\/a><\/p>\n The 50% Fib retracement level of the upward move from the $1,718 swing low to $2,289 high is near the $2,000 level. If there is a clear break below $2,000, the price could decline heavily. In the stated case, the price could dive towards the $1,850 level. The next major support on the downside is near the $1,700 level.<\/p>\n If Ethereum stays above the $2,050 support zone or $2,000, it could start a fresh increase. An immediate resistance on the upside is near the $2,120 level and the 100 hourly SMA.<\/p>\n The main breakout resistance is now forming near the $2,150 and $2,160 levels. A close above the $2,160 level could start a major increase towards the $2,250 level or even $2,320 in the coming sessions.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is currently below the 50 level.<\/p>\n Major Support Level \u2013 $2,000<\/p>\n Major Resistance Level \u2013 $2,150<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum failed to stay above $2,100 and it is now moving lower against the US Dollar. ETH price is likely to continue lower and it could even break $2,000. Ethereum started a fresh decline from well above the $2,200 support zone. The price is now trading below $2,100 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $2,100 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could decline heavily if there is a break below the $2,000 support zone in the near term. Ethereum Price Is Gaining Bearish Pace After struggling to stay above $2,250, ethereum started a fresh decline. ETH broke the $2,200 and $2,150 support levels to move into a short-term bearish zone. The price gained pace below the $2,150 level and it even broke $2,120. There was a break below the 23.6% Fib retracement level of the upward move from the $1,718 swing low to $2,289 high. There was also a break below a major bullish trend line with support near $2,100 on the hourly chart of ETH\/USD. The pair is now trading below $2,100 and the 100 hourly simple moving average. An immediate support on the downside is near the $2,050 level. The first major support is near the $2,000 level. Source: ETHUSD on TradingView.com The 50% Fib retracement level of the upward move from the $1,718 swing low to $2,289 high is near the $2,000 level. If there is a clear break below $2,000, the price could decline heavily. In the stated case, the price could dive towards the $1,850 level. The next major support on the downside is near the $1,700 level. Fresh Increase in ETH? If Ethereum stays above the $2,050 support zone or $2,000, it could start a fresh increase. An immediate resistance on the upside is near the $2,120 level and the 100 hourly SMA. The main breakout resistance is now forming near the $2,150 and $2,160 levels. A close above the $2,160 level could start a major increase towards the $2,250 level or even $2,320 in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is currently below the 50 level. Major Support Level \u2013 $2,000 Major Resistance Level \u2013 $2,150<\/p>\n","protected":false},"author":67,"featured_media":459399,"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-466697","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 Gaining Bearish Pace<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in ETH?<\/h2>\n