{"id":483598,"date":"2022-02-14T06:18:37","date_gmt":"2022-02-14T06:18:37","guid":{"rendered":"https:\/\/wncen.com\/?p=483598"},"modified":"2024-06-11T13:04:47","modified_gmt":"2024-06-11T13:04:47","slug":"ethereum-prints-bearish-pattern-2-5k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-prints-bearish-pattern-2-5k\/","title":{"rendered":"TA: Ethereum Prints Bearish Technical Pattern, Why It Could Revisit $2.5K"},"content":{"rendered":"
Ethereum settled below the $3,000 support zone against the US Dollar. ETH price could continue to move down if it stays below the $3,000 pivot level.<\/em><\/p>\n Ethereum failed to stay above the $3,020 and $3,000 support levels<\/a>. ETH extended decline below the $2,950 support and settles below the 100 hourly simple moving average.<\/p>\n The decline was such that the price traded below the $2,900 level. A low is formed near $2,832 and the price is now consolidating losses. An immediate resistance is near the $2,880 level. The first major resistance<\/a> is near the $2,950 level.<\/p>\n There is also a key declining channel forming with resistance near $2,900 on the hourly chart of ETH\/USD. The channel resistance is near the 23.6% Fib retracement level of the recent decline from the $3,141 swing high to $2,832 low.<\/p>\n <\/a><\/p>\n The main resistance is near the $3,000 level and the 100 hourly simple moving average. It coincides with the 50% Fib retracement level of the recent decline from the $3,141 swing high to $2,832 low. A successful close above $3,000 might start another increase. In the stated case, the price could surpass the $3,050 and $3,080 levels. Any more gains might send the price towards the $3,120 level.<\/p>\n If ethereum fails to start a fresh increase above $2,900 or $3,000, it could continue to move down. An initial support on the downside is near the $2,830 level.<\/p>\n The next major support is near the $2,800 level. A downside break below the $2,800 level might push the price towards the $2,720 level. The next major support is near the $2,650 level, below which there is a risk of a larger decline. In the stated case, the price could test $2,550.<\/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 below the 50 level.<\/p>\n Major Support Level \u2013 $2,800<\/p>\n Major Resistance Level \u2013 $3,000<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum settled below the $3,000 support zone against the US Dollar. ETH price could continue to move down if it stays below the $3,000 pivot level. Ethereum started a downside correction after it failed to stay above the $3,200 level. The price is now trading below $3,000 and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $2,900 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could extend decline if there is a clear move below the $2,800 support zone. Ethereum Price Remains At Risk Ethereum failed to stay above the $3,020 and $3,000 support levels. ETH extended decline below the $2,950 support and settles below the 100 hourly simple moving average. The decline was such that the price traded below the $2,900 level. A low is formed near $2,832 and the price is now consolidating losses. An immediate resistance is near the $2,880 level. The first major resistance is near the $2,950 level. There is also a key declining channel forming with resistance near $2,900 on the hourly chart of ETH\/USD. The channel resistance is near the 23.6% Fib retracement level of the recent decline from the $3,141 swing high to $2,832 low. Source: ETHUSD on TradingView.com The main resistance is near the $3,000 level and the 100 hourly simple moving average. It coincides with the 50% Fib retracement level of the recent decline from the $3,141 swing high to $2,832 low. A successful close above $3,000 might start another increase. In the stated case, the price could surpass the $3,050 and $3,080 levels. Any more gains might send the price towards the $3,120 level. More Losses in ETH? If ethereum fails to start a fresh increase above $2,900 or $3,000, it could continue to move down. An initial support on the downside is near the $2,830 level. The next major support is near the $2,800 level. A downside break below the $2,800 level might push the price towards the $2,720 level. The next major support is near the $2,650 level, below which there is a risk of a larger decline. In the stated case, the price could test $2,550. 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 below the 50 level. Major Support Level \u2013 $2,800 Major Resistance Level \u2013 $3,000<\/p>\n","protected":false},"author":67,"featured_media":461576,"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-483598","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 Remains At Risk<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n