{"id":494629,"date":"2022-07-01T05:38:40","date_gmt":"2022-07-01T05:38:40","guid":{"rendered":"https:\/\/wncen.com\/?p=494629"},"modified":"2024-06-11T14:21:14","modified_gmt":"2024-06-11T14:21:14","slug":"ethereum-trims-gains-1100","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-trims-gains-1100\/","title":{"rendered":"TA: Ethereum Trims Gains, Why ETH Remains At Risk Below $1,100"},"content":{"rendered":"
Ethereum is struggling below $1,100 against the US Dollar. ETH could continue lower below the $1,000 support unless there is a clear move above the $1,100 zone.<\/em><\/p>\n Ethereum remained in a bearish zone<\/a> and extended losses below the $1,100 support zone. ETH even broke the $1,050 level to move further into a bearish zone.<\/p>\n Finally, ether price spiked below the $1,000 level and traded as low as $997. Recently, there was a sharp upward move above the $1,050 level. The price surged above the 23.6% Fib retracement level of the downward move from the $1,235 swing high to $997 low.<\/p>\n Besides, there was a break above a major bearish trend line with resistance near $1,030 on the hourly chart of ETH\/USD. However, the bears were active near the $1,100 resistance zone.<\/p>\n Ether is now trading below $1,120 and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $1,100 level. The next major resistance is near the $1,120 zone. The 50% Fib retracement level of the downward move from the $1,235 swing high to $997 low is also near $1,120. A close above the $1,120 resistance zone could start a steady increase.<\/p>\n <\/a><\/p>\n In the stated case, the price could rise towards the $1,200 resistance. Any more gains might send the price towards the $1,235 high.<\/p>\n If ethereum fails to rise above the $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,045 zone.<\/p>\n The next major support is near the $1,000 zone. A close below the $1,000 level might push ether price further lower. In the stated case, ether price may perhaps decline towards the $925 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum 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 $1,045<\/p>\n Major Resistance Level \u2013 $1,120<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is struggling below $1,100 against the US Dollar. ETH could continue lower below the $1,000 support unless there is a clear move above the $1,100 zone. Ethereum remained in a bearish zone below $1,120 and $1,100 levels. The price is now trading below $1,120 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,030 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could decline again unless there is a clear move above the $1,100 resistance zone. Ethereum Price Faces Resistance Ethereum remained in a bearish zone and extended losses below the $1,100 support zone. ETH even broke the $1,050 level to move further into a bearish zone. Finally, ether price spiked below the $1,000 level and traded as low as $997. Recently, there was a sharp upward move above the $1,050 level. The price surged above the 23.6% Fib retracement level of the downward move from the $1,235 swing high to $997 low. Besides, there was a break above a major bearish trend line with resistance near $1,030 on the hourly chart of ETH\/USD. However, the bears were active near the $1,100 resistance zone. Ether is now trading below $1,120 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,100 level. The next major resistance is near the $1,120 zone. The 50% Fib retracement level of the downward move from the $1,235 swing high to $997 low is also near $1,120. A close above the $1,120 resistance zone could start a steady increase. Source: ETHUSD on TradingView.com In the stated case, the price could rise towards the $1,200 resistance. Any more gains might send the price towards the $1,235 high. More Losses in ETH? If ethereum fails to rise above the $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,045 zone. The next major support is near the $1,000 zone. A close below the $1,000 level might push ether price further lower. In the stated case, ether price may perhaps decline towards the $925 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now near the 50 level. Major Support Level \u2013 $1,045 Major Resistance Level \u2013 $1,120<\/p>\n","protected":false},"author":67,"featured_media":464420,"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-494629","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 Faces Resistance<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n