{"id":481911,"date":"2022-01-25T05:18:35","date_gmt":"2022-01-25T05:18:35","guid":{"rendered":"https:\/\/wncen.com\/?p=481911"},"modified":"2024-06-11T14:10:51","modified_gmt":"2024-06-11T14:10:51","slug":"ta-ethereum-turns-red-what-could-trigger-steady-recovery","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ta-ethereum-turns-red-what-could-trigger-steady-recovery\/","title":{"rendered":"TA: Ethereum Turns Red, What Could Trigger Steady Recovery"},"content":{"rendered":"
Ethereum extended decline below the $2,400 support zone against the US Dollar. ETH price is recovering, but it must clear $2,550 for a steady upward move.<\/em><\/p>\n Ethereum started a major decline<\/a> after there was a close below the $3,000 level. ETH traded below the key $2,500 support zone to move into a bearish zone.<\/p>\n The price even traded below the $2,400 level and settled below the 100 hourly simple moving average<\/a>. Finally, it traded as low as $2,160 and currently correcting higher. There was a move above the $2,300 and $2,350 levels.<\/p>\n Ether price climbed above the 50% Fib retracement level of the recent decline from the $2,547 swing high to $2,160 low. An initial resistance on the upside is near the $2,420 zone. There is also a key bearish trend line forming with resistance near $2,450 on the hourly chart of ETH\/USD.<\/p>\n The trend line is close to the 76.4% Fib retracement level of the recent decline from the $2,547 swing high to $2,160 low. The first major resistance is near the $2,500 level. The main resistance sits near the $2,550 level.<\/p>\n <\/a><\/p>\n If there is an upside break above $2,550 resistance, zone, the price could start a decent recovery wave. The next major resistance is near the $2,750 level.<\/p>\n If ethereum fails to start a recovery wave above the $2,550 level, it could continue to move down. An initial support on the downside is near the $2,320 level.<\/p>\n The first key support is now forming near the $2,250 level. A downside break below the $2,250 level might start another strong decline. The next major support for the bulls may perhaps be near the $2,150 zone. Any more losses could push the price towards the $2,000 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now near the 50 level.<\/p>\n Major Support Level \u2013 $2,150<\/p>\n Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum extended decline below the $2,400 support zone against the US Dollar. ETH price is recovering, but it must clear $2,550 for a steady upward move. Ethereum extended decline below the $2,500 and $2,400 support levels. The price is trading below $2,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,450 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could extend losses if it fails to recover above $2,500 and $2,550. Ethereum Price Keeps Struggling Ethereum started a major decline after there was a close below the $3,000 level. ETH traded below the key $2,500 support zone to move into a bearish zone. The price even traded below the $2,400 level and settled below the 100 hourly simple moving average. Finally, it traded as low as $2,160 and currently correcting higher. There was a move above the $2,300 and $2,350 levels. Ether price climbed above the 50% Fib retracement level of the recent decline from the $2,547 swing high to $2,160 low. An initial resistance on the upside is near the $2,420 zone. There is also a key bearish trend line forming with resistance near $2,450 on the hourly chart of ETH\/USD. The trend line is close to the 76.4% Fib retracement level of the recent decline from the $2,547 swing high to $2,160 low. The first major resistance is near the $2,500 level. The main resistance sits near the $2,550 level. Source: ETHUSD on TradingView.com If there is an upside break above $2,550 resistance, zone, the price could start a decent recovery wave. The next major resistance is near the $2,750 level. More Losses in ETH? If ethereum fails to start a recovery wave above the $2,550 level, it could continue to move down. An initial support on the downside is near the $2,320 level. The first key support is now forming near the $2,250 level. A downside break below the $2,250 level might start another strong decline. The next major support for the bulls may perhaps be near the $2,150 zone. Any more losses could push the price towards the $2,000 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now near the 50 level. Major Support Level \u2013 $2,150 Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"author":67,"featured_media":463558,"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-481911","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 Keeps Struggling<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n