{"id":466923,"date":"2021-07-06T05:28:02","date_gmt":"2021-07-06T05:28:02","guid":{"rendered":"https:\/\/wncen.com\/?p=466923"},"modified":"2024-06-11T08:40:37","modified_gmt":"2024-06-11T08:40:37","slug":"ethereum-steadies-near-2-2k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-steadies-near-2-2k\/","title":{"rendered":"TA: Ethereum Steadies Near $2.2K, Why ETH Could Start Fresh Increase"},"content":{"rendered":"
Ethereum started a downside correction from the $2,400 zone against the US Dollar. ETH price could start a fresh increase unless there is a clear break below $2,150.<\/em><\/p>\n After a failed attempt to clear the $2,400 level, ethereum started a fresh decline. ETH broke the $2,300 and $2,250 support levels to move into a short-term bearish zone.<\/p>\n The price even spiked below the $2,200 level and the 100 hourly simple moving average<\/a>. It traded below the 50% Fib retracement level of the upward move from the $2,020 swing low to $2,389 high. There was also a break below a key bullish trend line with support near $2,280 on the hourly chart of ETH\/USD.<\/p>\n Ether is now trading just above $2,200 and the 100 hourly simple moving average. An immediate support on the downside is near the $2,210 level. The first major support<\/a> is near the $2,200 level.<\/p>\n <\/a><\/p>\n There is also a short-term contracting triangle forming with support near $2,200. The next major support is near the $2,160 level. It is near the 61.8% Fib retracement level of the upward move from the $2,020 swing low to $2,389 high.<\/p>\n If there is a clear break below $2,160, the price could decline heavily. In the stated case, the price could dive towards the $2,000 level. The next major support on the downside is near the $1,880 level.<\/p>\n If Ethereum stays above the $2,200 support zone or $2,160, it could start a fresh increase. An immediate resistance on the upside is near the $2,250 level.<\/p>\n The main breakout resistance is now forming near the $2,300 and $2,320 levels. A close above the $2,320 level could start a major increase towards the $2,400 level or even $2,550 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 bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is currently above the 50 level.<\/p>\n Major Support Level \u2013 $2,160<\/p>\n Major Resistance Level \u2013 $2,320<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started a downside correction from the $2,400 zone against the US Dollar. ETH price could start a fresh increase unless there is a clear break below $2,150. Ethereum failed to surpass $2,400 and it started a downside correction. The price is now trading just above $2,200 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,280 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could decline heavily if there is a break below the $2,200 and $2,150 support levels in the near term. Ethereum Price Consolidates After a failed attempt to clear the $2,400 level, ethereum started a fresh decline. ETH broke the $2,300 and $2,250 support levels to move into a short-term bearish zone. The price even spiked below the $2,200 level and the 100 hourly simple moving average. It traded below the 50% Fib retracement level of the upward move from the $2,020 swing low to $2,389 high. There was also a break below a key bullish trend line with support near $2,280 on the hourly chart of ETH\/USD. Ether is now trading just above $2,200 and the 100 hourly simple moving average. An immediate support on the downside is near the $2,210 level. The first major support is near the $2,200 level. Source: ETHUSD on TradingView.com There is also a short-term contracting triangle forming with support near $2,200. The next major support is near the $2,160 level. It is near the 61.8% Fib retracement level of the upward move from the $2,020 swing low to $2,389 high. If there is a clear break below $2,160, the price could decline heavily. In the stated case, the price could dive towards the $2,000 level. The next major support on the downside is near the $1,880 level. Fresh Increase in ETH? If Ethereum stays above the $2,200 support zone or $2,160, it could start a fresh increase. An immediate resistance on the upside is near the $2,250 level. The main breakout resistance is now forming near the $2,300 and $2,320 levels. A close above the $2,320 level could start a major increase towards the $2,400 level or even $2,550 in the coming sessions. 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 above the 50 level. Major Support Level \u2013 $2,160 Major Resistance Level \u2013 $2,320<\/p>\n","protected":false},"author":67,"featured_media":460417,"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-466923","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 Consolidates<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in ETH?<\/h2>\n