{"id":494296,"date":"2022-06-28T04:28:05","date_gmt":"2022-06-28T04:28:05","guid":{"rendered":"https:\/\/wncen.com\/?p=494296"},"modified":"2024-06-11T07:41:45","modified_gmt":"2024-06-11T07:41:45","slug":"ethereum-turns-red-1200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-turns-red-1200\/","title":{"rendered":"TA: Ethereum Turns Red, Why ETH Must Hold This Key Support"},"content":{"rendered":"
Ethereum declined below the $1,200 zone against the US Dollar. ETH is now at a risk of more losses if it fails to stay above the $1,150 support zone.<\/em><\/p>\n Ethereum failed to continue higher above the $1,250 and $1,280 resistance levels<\/a>. ETH formed a high near $1,281 and started a fresh decline.<\/p>\n There was a clear move below the $1,220 and $1,200 support levels. Ether price declined below the 23.6% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. It is now trading below $1,200 and the 100 hourly simple moving average<\/a>.<\/p>\n Ether is also consolidating near the 50% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. An immediate resistance on the upside is near the $1,200 level.<\/p>\n Besides, there is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH\/USD. \u00a0The next major resistance is near the $1,250 zone. A close above the $1,250 resistance zone could start a steady increase. In the stated case, the price could clear the $1,280 resistance.<\/p>\n <\/a><\/p>\n The next major resistance is near the $1,350 level, above which the price could even rise towards the $1,440 resistance level in the near term.<\/p>\n If ethereum fails to rise above the $1,200 resistance, it could continue to move down. An initial support on the downside is near the $1,150 zone.<\/p>\n The next major support is near the $1,120 zone. A close below the $1,120 level might put a lot of pressure on the bulls. In the stated case, ether price may perhaps decline towards the $1,050 level or even $1,000 in the coming sessions.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum 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 $1,150<\/p>\n Major Resistance Level \u2013 $1,200<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum declined below the $1,200 zone against the US Dollar. ETH is now at a risk of more losses if it fails to stay above the $1,150 support zone. Ethereum started a fresh decline from the $1,250 and $1,280 levels. The price is now trading below $1,200 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could decline sharply if there is a clear move below the $1,150 support zone. Ethereum Price Struggles Ethereum failed to continue higher above the $1,250 and $1,280 resistance levels. ETH formed a high near $1,281 and started a fresh decline. There was a clear move below the $1,220 and $1,200 support levels. Ether price declined below the 23.6% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. It is now trading below $1,200 and the 100 hourly simple moving average. Ether is also consolidating near the 50% Fib retracement level of the upward move from the $1,043 swing low to $1,280 high. An immediate resistance on the upside is near the $1,200 level. Besides, there is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH\/USD. \u00a0The next major resistance is near the $1,250 zone. A close above the $1,250 resistance zone could start a steady increase. In the stated case, the price could clear the $1,280 resistance. Source: ETHUSD on TradingView.com The next major resistance is near the $1,350 level, above which the price could even rise towards the $1,440 resistance level in the near term. More Losses in ETH? If ethereum fails to rise above the $1,200 resistance, it could continue to move down. An initial support on the downside is near the $1,150 zone. The next major support is near the $1,120 zone. A close below the $1,120 level might put a lot of pressure on the bulls. In the stated case, ether price may perhaps decline towards the $1,050 level or even $1,000 in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now well below the 50 level. Major Support Level \u2013 $1,150 Major Resistance Level \u2013 $1,200<\/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-494296","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 Struggles<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n