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{"id":502182,"date":"2022-09-14T05:18:34","date_gmt":"2022-09-14T05:18:34","guid":{"rendered":"https:\/\/wncen.com\/?p=502182"},"modified":"2024-06-11T14:26:07","modified_gmt":"2024-06-11T14:26:07","slug":"ethereum-plunges-to-1550","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-plunges-to-1550\/","title":{"rendered":"TA: Ethereum Plunges to $1,550: Can Bulls Save the Day?"},"content":{"rendered":"

Ethereum corrected lower below $1,650 against the US Dollar. ETH must stay above the $1,550 support zone to avoid a sharp bearish reversal.<\/em><\/p>\n

\n
Ethereum started a key downside correction and traded below the $1,650 level.<\/li>\n
The price is now trading below $1,650 and the 100 hourly simple moving average.<\/li>\n
There is a connecting bearish trend line forming with resistance near $1,700 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair must stay above the $1,550 support to start a fresh increase in the near term.<\/li>\n<\/ul>\n
Ethereum Price Dips Over 6%<\/h2>\n
Ethereum failed to stay above the $1,750 and $1,720 levels. ETH reacted to the downside below the $1,700 level and the 100 hourly simple moving average.<\/p>\n
The price declined over 5% and even spiked below the $1,600 level, similar to bitcoin<\/a>. It even tested the $1,550 support and traded as low as $1,552. Ether is now trading below $1,650 and the 100 hourly simple moving average.<\/p>\n
The bulls are now pushing the price above the 23.6% Fib retracement level of the downward move from the $1,789 swing high to $1,552 low. On the upside, the price is facing resistance near the $1,620 level.<\/p>\n
The next major resistance is near the $1,660 and $1,670 levels. It is near the 50% Fib retracement level of the downward move from the $1,789 swing high to $1,552 low. A clear break above $1,670 might send the price towards the $1,700 level.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
There is also a connecting bearish trend line forming with resistance near $1,700 and the 100 hourly simple moving average<\/a> on the hourly chart of ETH\/USD. Any more gains may perhaps open the doors for a move towards the $1,780 resistance in the near term.<\/p>\n
More Losses in ETH?<\/h2>\n
If ethereum fails to rise above the $1,660 resistance, it could continue to move down. An initial support on the downside is near the $1,580 zone.<\/p>\n
The next major support is near $1,550. A downside break below the $1,550 support might spark more losses. In the stated case, ether price might decline towards the $1,500 level. Any more losses could push the price to $1,440.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now rising towards the 50 level.<\/p>\n
Major Support Level \u2013 $1,500<\/p>\n
Major Resistance Level \u2013 $1,660<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum corrected lower below $1,650 against the US Dollar. ETH must stay above the $1,550 support zone to avoid a sharp bearish reversal. Ethereum started a key downside correction and traded below the $1,650 level. The price is now trading below $1,650 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $1,700 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above the $1,550 support to start a fresh increase in the near term. Ethereum Price Dips Over 6% Ethereum failed to stay above the $1,750 and $1,720 levels. ETH reacted to the downside below the $1,700 level and the 100 hourly simple moving average. The price declined over 5% and even spiked below the $1,600 level, similar to bitcoin. It even tested the $1,550 support and traded as low as $1,552. Ether is now trading below $1,650 and the 100 hourly simple moving average. The bulls are now pushing the price above the 23.6% Fib retracement level of the downward move from the $1,789 swing high to $1,552 low. On the upside, the price is facing resistance near the $1,620 level. The next major resistance is near the $1,660 and $1,670 levels. It is near the 50% Fib retracement level of the downward move from the $1,789 swing high to $1,552 low. A clear break above $1,670 might send the price towards the $1,700 level. Source: ETHUSD on TradingView.com There is also a connecting bearish trend line forming with resistance near $1,700 and the 100 hourly simple moving average on the hourly chart of ETH\/USD. Any more gains may perhaps open the doors for a move towards the $1,780 resistance in the near term. More Losses in ETH? If ethereum fails to rise above the $1,660 resistance, it could continue to move down. An initial support on the downside is near the $1,580 zone. The next major support is near $1,550. A downside break below the $1,550 support might spark more losses. In the stated case, ether price might decline towards the $1,500 level. Any more losses could push the price to $1,440. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now rising towards the 50 level. Major Support Level \u2013 $1,500 Major Resistance Level \u2013 $1,660<\/p>\n","protected":false},"author":67,"featured_media":476803,"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-502182","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nTA: Ethereum Plunges to $1,550: Can Bulls Save the Day?<\/title>\n<meta name=\"description\" content=\"Ethereum corrected lower below $1,650 against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Ethereum Plunges to $1,550: Can Bulls Save the Day?","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-plunges-to-1550\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-plunges-to-1550\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/11\/Depositphotos_183063862_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/11\/Depositphotos_183063862_s-2019.jpg?fit=999%2C738"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum","ethusd","ethusdt"],"dateCreated":"2022-09-14T05:18:34Z","datePublished":"2022-09-14T05:18:34Z","dateModified":"2024-06-11T14:26:07Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Plunges to $1,550: Can Bulls Save the Day?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-plunges-to-1550\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-plunges-to-1550\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/11\\\/Depositphotos_183063862_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/11\\\/Depositphotos_183063862_s-2019.jpg?fit=999%2C738\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2022-09-14T05:18:34Z\",\"datePublished\":\"2022-09-14T05:18:34Z\",\"dateModified\":\"2024-06-11T14:26:07Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/11\/Depositphotos_183063862_s-2019.jpg?fit=999%2C738","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/502182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=502182"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/502182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/476803"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=502182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=502182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=502182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}