{"id":482857,"date":"2022-02-04T05:08:45","date_gmt":"2022-02-04T05:08:45","guid":{"rendered":"https:\/\/wncen.com\/?p=482857"},"modified":"2024-06-11T07:46:43","modified_gmt":"2024-06-11T07:46:43","slug":"ethereum-recovers-losses-2700","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-recovers-losses-2700\/","title":{"rendered":"TA: Ethereum Recovers Losses, Why Bulls Face Major Challenge"},"content":{"rendered":"
Ethereum stayed above the $2,550 support zone against the US Dollar. ETH price is rising, but it must clear $2,700 for a sustained move higher<\/em><\/p>\n Ethereum started a downside correction from the $2,800 resistance zone<\/a>. ETH traded below the $2,750 support level and even declined below $2,700.<\/p>\n The price even spiked below the $2,600 level, but the bulls remained active above $2,500. A low was formed near $2,577 and the price is now rising. There was a recovery wave above the $2,600 and $2,620 resistance levels.<\/p>\n Ether climbed above the 23.6% Fib retracement level of the downward move from the $2,819 swing high to $2,577 low. Besides, there was a break above a key bearish trend line with resistance near $2,640 on the hourly chart of ETH\/USD.<\/p>\n The pair is now trading above $2,650 and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $2,700 level. It is near the 50% Fib retracement level of the downward move from the $2,819 swing high to $2,577 low.<\/p>\n <\/a><\/p>\n A clear move above the $2,700 resistance could stage a strong upward move. The next key resistance is near the $2,800 level, above which ether price might accelerate higher towards the $3,000 resistance zone in the near term.<\/p>\n If ethereum fails to start a fresh increase above the $2,700 resistance, it could start another decline. An initial support on the downside is near the $2,660 level and the 100 hourly SMA.<\/p>\n A downside break below the 100 hourly SMA might put pressure on the bulls. The next major support is near the $2,600 level, below which there is a risk of a sharp decline. In the stated case, the price might dive towards the $2,500 level or $2,480.<\/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 above the 50 level.<\/p>\n Major Support Level \u2013 $2,600<\/p>\n Major Resistance Level \u2013 $2,700<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum stayed above the $2,550 support zone against the US Dollar. ETH price is rising, but it must clear $2,700 for a sustained move higher Ethereum found support near $2,580 after a downside correction from $2,800. The price is now trading above $2,650 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $2,640 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a strong increase if there is a clear move above the $2,700 resistance. Ethereum Price Revisit $2,700 Ethereum started a downside correction from the $2,800 resistance zone. ETH traded below the $2,750 support level and even declined below $2,700. The price even spiked below the $2,600 level, but the bulls remained active above $2,500. A low was formed near $2,577 and the price is now rising. There was a recovery wave above the $2,600 and $2,620 resistance levels. Ether climbed above the 23.6% Fib retracement level of the downward move from the $2,819 swing high to $2,577 low. Besides, there was a break above a key bearish trend line with resistance near $2,640 on the hourly chart of ETH\/USD. The pair is now trading above $2,650 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,700 level. It is near the 50% Fib retracement level of the downward move from the $2,819 swing high to $2,577 low. Source: ETHUSD on TradingView.com A clear move above the $2,700 resistance could stage a strong upward move. The next key resistance is near the $2,800 level, above which ether price might accelerate higher towards the $3,000 resistance zone in the near term. Fresh Decline in ETH? If ethereum fails to start a fresh increase above the $2,700 resistance, it could start another decline. An initial support on the downside is near the $2,660 level and the 100 hourly SMA. A downside break below the 100 hourly SMA might put pressure on the bulls. The next major support is near the $2,600 level, below which there is a risk of a sharp decline. In the stated case, the price might dive towards the $2,500 level or $2,480. 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 above the 50 level. Major Support Level \u2013 $2,600 Major Resistance Level \u2013 $2,700<\/p>\n","protected":false},"author":67,"featured_media":464347,"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-482857","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 Revisit $2,700<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in ETH?<\/h2>\n