{"id":482257,"date":"2022-01-28T05:08:01","date_gmt":"2022-01-28T05:08:01","guid":{"rendered":"https:\/\/wncen.com\/?p=482257"},"modified":"2024-06-11T09:54:56","modified_gmt":"2024-06-11T09:54:56","slug":"ethereum-struggles-below-2-5k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-struggles-below-2-5k\/","title":{"rendered":"TA: Ethereum Struggles Below $2.5K, Why 100 SMA Is The Key"},"content":{"rendered":"
Ethereum is consolidating below $2,500 against the US Dollar. ETH price could continue to move down if there is no break above $2,500 and $2,550.<\/em><\/p>\n Ethereum declined below the $2,550 support<\/a> after there was no upside break above $2,700. ETH even declined below the $2,400 level and the 100 hourly simple moving average.<\/p>\n However, the bulls were active near the $2,300 zone. A low is formed near $2,316 and the price is now correcting higher. There was a move above the $2,400 level. Ether price even climbed above the 23.6% Fib retracement level of the downward move from the $2,729 swing high to $2,316 low.<\/p>\n It is still trading below $2,500 and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $2,450 level.<\/p>\n Besides, there is a major bearish trend line forming with resistance near $2,450 on the hourly chart of ETH\/USD. The first major resistance is near the $2,500 level. A clear move above the $2,500 resistance might start a steady increase. In the stated case, the pair could even surpass the $2,550 level.<\/p>\n <\/a><\/p>\n The next key hurdle could be $2,630. It is near the 76.4% Fib retracement level of the downward move from the $2,729 swing high to $2,316 low.<\/p>\n If ethereum fails to start a fresh increase above the $2,500 level, it could start a fresh decline. An initial support on the downside is near the $2,350 level.<\/p>\n The first key support is now forming near the $2,315 level. If there is a downside break below the $2,315 and $2,300 levels, the price could accelerate lower. The next major support for the bulls may perhaps be near the $2,220 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 just above the 50 level.<\/p>\n Major Support Level \u2013 $2,315<\/p>\n Major Resistance Level \u2013 $2,500<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is consolidating below $2,500 against the US Dollar. ETH price could continue to move down if there is no break above $2,500 and $2,550. Ethereum managed to stay above the $2,320 and $2,300 support levels. The price is still trading below $2,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,450 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a decent increase if there is a clear move above $2,450 and $2,500. Ethereum Price Holds Support Ethereum declined below the $2,550 support after there was no upside break above $2,700. ETH even declined below the $2,400 level and the 100 hourly simple moving average. However, the bulls were active near the $2,300 zone. A low is formed near $2,316 and the price is now correcting higher. There was a move above the $2,400 level. Ether price even climbed above the 23.6% Fib retracement level of the downward move from the $2,729 swing high to $2,316 low. It is still trading below $2,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,450 level. Besides, there is a major bearish trend line forming with resistance near $2,450 on the hourly chart of ETH\/USD. The first major resistance is near the $2,500 level. A clear move above the $2,500 resistance might start a steady increase. In the stated case, the pair could even surpass the $2,550 level. Source: ETHUSD on TradingView.com The next key hurdle could be $2,630. It is near the 76.4% Fib retracement level of the downward move from the $2,729 swing high to $2,316 low. More Losses in ETH? If ethereum fails to start a fresh increase above the $2,500 level, it could start a fresh decline. An initial support on the downside is near the $2,350 level. The first key support is now forming near the $2,315 level. If there is a downside break below the $2,315 and $2,300 levels, the price could accelerate lower. The next major support for the bulls may perhaps be near the $2,220 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 just above the 50 level. Major Support Level \u2013 $2,315 Major Resistance Level \u2013 $2,500<\/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-482257","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 Holds Support<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n