{"id":496782,"date":"2022-07-27T04:28:18","date_gmt":"2022-07-27T04:28:18","guid":{"rendered":"https:\/\/wncen.com\/?p=496782"},"modified":"2024-06-11T08:54:24","modified_gmt":"2024-06-11T08:54:24","slug":"ethereum-recovery-faces-major-hurdle-1500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-recovery-faces-major-hurdle-1500\/","title":{"rendered":"TA: Ethereum Recovery Faces Major Hurdle, Risk of Fresh Decline Exits"},"content":{"rendered":"
Ethereum declined towards $1,350 before recovering higher against the US Dollar. ETH is now facing a major resistance near the $1,460 and $1,500 levels.<\/em><\/p>\n Ethereum remained in a bearish zone<\/a> below the $1,500 level. ETH started another decline and traded below the key $1,400 support zone.<\/p>\n The price even spiked below the $1,360 level and traded as low as $1,257. It is now attempting a recovery wave above the $1,400 resistance zone. There was a move above the 23.6% Fib retracement level of the downward move from the $1,662 swing high to $1,357 low.<\/p>\n However, ether price is trading below $1,460 and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $1,440 level.<\/p>\n There is also a major bearish trend line forming with resistance near $1,440 on the hourly chart of ETH\/USD. The first major resistance is near the $1,480 zone and the 100 hourly simple moving average. The main resistance is now forming near the $1,500 zone.<\/p>\n <\/a><\/p>\n The 50% Fib retracement level of the downward move from the $1,662 swing high to $1,357 low is also near the $1,500 zone. A clear move above the $1,500 level could start a decent increase. In the stated case, the price may perhaps rise towards the $1,550 resistance zone.<\/p>\n If ethereum fails to rise above the $1,480 resistance, it could continue to move down. An initial support on the downside is near the $1,400 zone.<\/p>\n A clear move below the $1,400 support might spark another decline. In this case, ether price may perhaps revisit the $1,350 support. Any more losses might even push the price to the $1,300 support or even $1,250 in the near term.<\/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 just above the 50 level.<\/p>\n Major Support Level \u2013 $1,400<\/p>\n Major Resistance Level \u2013 $1,480<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum declined towards $1,350 before recovering higher against the US Dollar. ETH is now facing a major resistance near the $1,460 and $1,500 levels. Ethereum extended losses and traded below the $1,400 level. The price is now trading below $1,460 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,440 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could struggle to recover above the $1,440 and $1,460 resistance levels. Ethereum Price Remains In Bearish Zone Ethereum remained in a bearish zone below the $1,500 level. ETH started another decline and traded below the key $1,400 support zone. The price even spiked below the $1,360 level and traded as low as $1,257. It is now attempting a recovery wave above the $1,400 resistance zone. There was a move above the 23.6% Fib retracement level of the downward move from the $1,662 swing high to $1,357 low. However, ether price is trading below $1,460 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $1,440 level. There is also a major bearish trend line forming with resistance near $1,440 on the hourly chart of ETH\/USD. The first major resistance is near the $1,480 zone and the 100 hourly simple moving average. The main resistance is now forming near the $1,500 zone. Source: ETHUSD on TradingView.com The 50% Fib retracement level of the downward move from the $1,662 swing high to $1,357 low is also near the $1,500 zone. A clear move above the $1,500 level could start a decent increase. In the stated case, the price may perhaps rise towards the $1,550 resistance zone. More Losses in ETH? If ethereum fails to rise above the $1,480 resistance, it could continue to move down. An initial support on the downside is near the $1,400 zone. A clear move below the $1,400 support might spark another decline. In this case, ether price may perhaps revisit the $1,350 support. Any more losses might even push the price to the $1,300 support or even $1,250 in the near term. 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 just above the 50 level. Major Support Level \u2013 $1,400 Major Resistance Level \u2013 $1,480<\/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":[8323,1946,8686,78803],"class_list":["post-496782","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Remains In Bearish Zone<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n