{"id":467849,"date":"2021-07-21T05:08:04","date_gmt":"2021-07-21T05:08:04","guid":{"rendered":"https:\/\/wncen.com\/?p=467849"},"modified":"2024-06-11T13:57:11","modified_gmt":"2024-06-11T13:57:11","slug":"ethereum-starts-recovery-1850","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-starts-recovery-1850\/","title":{"rendered":"TA: Ethereum Starts Recovery, Why ETH Could Resume Its Decline"},"content":{"rendered":"
Ethereum started an upside correction from the $1,720 zone against the US Dollar. ETH price could correct further higher, but upsides might be capped near $1,850.<\/em><\/p>\n Ethereum remained in a bearish zone and it extended its decline below $1,800, similar to bitcoin<\/a>. ETH price broke the $1,780 support and it settled well below the 100 hourly simple moving average<\/a>.<\/p>\n The price traded as low as $1,718 and it seems to be forming a base above the $1,720. Ether is now correcting gains and it is trading above the $1,750 level. There was a break above the 50% Fib retracement level of the key decline from the $1,832 swing high to $1,718 low.<\/p>\n There was also a break above a key bearish trend line with resistance near $1,790 on the hourly chart of ETH\/USD. The pair is now trading above the 61.8% Fib retracement level of the key decline from the $1,832 swing high to $1,718 low.<\/p>\n <\/a><\/p>\n The price is now facing resistance near the $1,810 level. The main resistance is now forming near the $1,850 level and the 100 hourly SMA. To move into a positive zone, the price must climb above the $1,830 and $1,850 resistance levels.<\/p>\n If Ethereum fails to recover above $1,820 and $1,850, it could continue to move down. An initial support on the downside is near the $1,775 level.<\/p>\n The first major support is near the $1,750 level. The main support is now forming near the $1,720 level. Any more losses could set the pace for a drop towards the $1,650 support zone in the near term. The next major support sits near the $1,600 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n Major Support Level \u2013 $1,750<\/p>\n Major Resistance Level \u2013 $1,850<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started an upside correction from the $1,720 zone against the US Dollar. ETH price could correct further higher, but upsides might be capped near $1,850. Ethereum formed a base above the $1,720 support zone before starting an upside correction. The price is still trading well below the $1,850 resistance and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $1,790 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to rise further towards the $1,850 resistance zone and the 100 hourly SMA. Ethereum Price Correcting Losses Ethereum remained in a bearish zone and it extended its decline below $1,800, similar to bitcoin. ETH price broke the $1,780 support and it settled well below the 100 hourly simple moving average. The price traded as low as $1,718 and it seems to be forming a base above the $1,720. Ether is now correcting gains and it is trading above the $1,750 level. There was a break above the 50% Fib retracement level of the key decline from the $1,832 swing high to $1,718 low. There was also a break above a key bearish trend line with resistance near $1,790 on the hourly chart of ETH\/USD. The pair is now trading above the 61.8% Fib retracement level of the key decline from the $1,832 swing high to $1,718 low. Source: ETHUSD on TradingView.com The price is now facing resistance near the $1,810 level. The main resistance is now forming near the $1,850 level and the 100 hourly SMA. To move into a positive zone, the price must climb above the $1,830 and $1,850 resistance levels. Fresh Decline in ETH? If Ethereum fails to recover above $1,820 and $1,850, it could continue to move down. An initial support on the downside is near the $1,775 level. The first major support is near the $1,750 level. The main support is now forming near the $1,720 level. Any more losses could set the pace for a drop towards the $1,650 support zone in the near term. The next major support sits near the $1,600 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $1,750 Major Resistance Level \u2013 $1,850<\/p>\n","protected":false},"author":67,"featured_media":462031,"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-467849","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 Correcting Losses<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in ETH?<\/h2>\n