{"id":477939,"date":"2021-12-02T05:08:46","date_gmt":"2021-12-02T05:08:46","guid":{"rendered":"https:\/\/wncen.com\/?p=477939"},"modified":"2024-06-11T14:09:28","modified_gmt":"2024-06-11T14:09:28","slug":"ethereum-topside-bias-vulnerable-4550","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-topside-bias-vulnerable-4550\/","title":{"rendered":"Ethereum Topside Bias Vulnerable If It Breaks This Key Support"},"content":{"rendered":"
Ethereum trimmed gains from the $4,800 resistance against the US Dollar. ETH is down 5% and it might decline further if there is a break below $4,350.<\/em><\/p>\n Ethereum struggled to clear the $4,800 resistance zone<\/a> and started a fresh decline. ETH broke the key $4,650 support to enter a bearish zone.<\/p>\n Besides, there was a break below a key bullish trend line with support near $4,600 on the hourly chart of ETH\/USD. The pair even traded below the $4,550 support zone<\/a>. It is now trading near $4,500 and the 100 hourly simple moving average.<\/p>\n A low is formed near $4,455 and is currently consolidating losses. An initial resistance on the upside is near the $4,540 level. It is near the 23.6% Fib retracement level of the recent decline from the $4,783 high to $4,455 low.<\/p>\n The first major resistance is near the $4,580 level. The next major resistance is near the $4,620 level. It coincides with the 50% Fib retracement level of the recent decline from the $4,783 high to $4,455 low.<\/p>\n <\/a><\/p>\n A close above the $4,600 and $4,620 levels could start a fresh increase in the near term. In the stated case, the price might rise towards the $4,750 level. Any more gains could lift the price towards the $4,800 zone in the near term.<\/p>\n If ethereum fails to start a fresh increase above the $4,600 level, it could start a downside correction. An initial support on the downside is near the $4,500 level.<\/p>\n The first key support is now forming near the $4,450 level. A downside break below the $4,450 support zone could push the price further lower. The main breakdown support is $4,350, below which the price could decline heavily.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now well below the 50 level.<\/p>\n Major Support Level \u2013 $4,450<\/p>\n Major Resistance Level \u2013 $4,620<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum trimmed gains from the $4,800 resistance against the US Dollar. ETH is down 5% and it might decline further if there is a break below $4,350. Ethereum failed to clear the $4,800 resistance and started a fresh decline. The price is now trading near $4,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $4,600 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could decline further below $4,500 if there is a close below the 100 hourly SMA. Ethereum Price Trims Gains Ethereum struggled to clear the $4,800 resistance zone and started a fresh decline. ETH broke the key $4,650 support to enter a bearish zone. Besides, there was a break below a key bullish trend line with support near $4,600 on the hourly chart of ETH\/USD. The pair even traded below the $4,550 support zone. It is now trading near $4,500 and the 100 hourly simple moving average. A low is formed near $4,455 and is currently consolidating losses. An initial resistance on the upside is near the $4,540 level. It is near the 23.6% Fib retracement level of the recent decline from the $4,783 high to $4,455 low. The first major resistance is near the $4,580 level. The next major resistance is near the $4,620 level. It coincides with the 50% Fib retracement level of the recent decline from the $4,783 high to $4,455 low. Source: ETHUSD on TradingView.com A close above the $4,600 and $4,620 levels could start a fresh increase in the near term. In the stated case, the price might rise towards the $4,750 level. Any more gains could lift the price towards the $4,800 zone in the near term. More Losses in ETH? If ethereum fails to start a fresh increase above the $4,600 level, it could start a downside correction. An initial support on the downside is near the $4,500 level. The first key support is now forming near the $4,450 level. A downside break below the $4,450 support zone could push the price further lower. The main breakdown support is $4,350, below which the price could decline heavily. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now well below the 50 level. Major Support Level \u2013 $4,450 Major Resistance Level \u2013 $4,620<\/p>\n","protected":false},"author":67,"featured_media":464009,"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-477939","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 Trims Gains<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n