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{"id":522415,"date":"2023-03-09T08:48:26","date_gmt":"2023-03-09T08:48:26","guid":{"rendered":"https:\/\/wncen.com\/?p=522415"},"modified":"2024-06-11T14:34:09","modified_gmt":"2024-06-11T14:34:09","slug":"ethereum-price-is-plunging-1500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-is-plunging-1500\/","title":{"rendered":"Ethereum Price is Plunging, But It’s Too Early to Say Bulls Have Given Up"},"content":{"rendered":"

Ethereum price is moving lower below $1,600 against the US Dollar. ETH must stay above the $1,500 support zone to start a recovery wave.<\/em><\/p>\n

\n
Ethereum is eyeing an upside break above the $1,560 and $1,580 resistance levels.<\/li>\n
The price is trading below $1,560 and the 100 hourly simple moving average.<\/li>\n
There is a connecting bearish trend line forming with resistance near $1,550 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could correct higher if there is a move above the $1,560 resistance zone.<\/li>\n<\/ul>\n
Ethereum Price Extends Losses<\/h2>\n
Ethereum price failed to clear the $1,580 and $1,600 resistance levels<\/a>. ETH formed a high near $1,565 and recently started a fresh decline. There was a move below the $1,545 support zone.<\/p>\n
The price traded as low as $1,525 and the bulls were active above the $1,500 level. It is now consolidating losses below $1,560 and the 100 hourly simple moving average. Ether price corrected a few points above the $1,540 resistance zone.<\/p>\n
It cleared the 23.6% Fib retracement level of the downward move from the $1,565 swing high to $1,525 low. On the upside, the price is facing resistance near the $1,550 zone. There is also a connecting bearish trend line<\/a> forming with resistance near $1,550 on the hourly chart of ETH\/USD.<\/p>\n
The first major resistance is near the $1,560 zone. It is near the 76.4% Fib retracement level of the downward move from the $1,565 swing high to $1,525 low.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
The next major resistance is near the $1,575 level, above which the price might start a decent increase. The next major resistance is near the $1,600 zone. A close above the $1,600 resistance zone might start a major upward move. In this case, the price may perhaps rise towards the $1,650 level.<\/p>\n
More Losses in ETH?<\/h2>\n
If ethereum fails to clear the $1,560 resistance, it could start another decline. An initial support on the downside is near the $1,525 level.<\/p>\n
The next major support is near the $1,500 zone. If there is a break below $1,500, the price might drop towards $1,435. Any more losses might call for a test of the $1,400 level.<\/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 below the 50 level.<\/p>\n
Major Support Level \u2013 $1,500<\/p>\n
Major Resistance Level \u2013 $1,560<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is moving lower below $1,600 against the US Dollar. ETH must stay above the $1,500 support zone to start a recovery wave. Ethereum is eyeing an upside break above the $1,560 and $1,580 resistance levels. The price is trading below $1,560 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $1,550 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct higher if there is a move above the $1,560 resistance zone. Ethereum Price Extends Losses Ethereum price failed to clear the $1,580 and $1,600 resistance levels. ETH formed a high near $1,565 and recently started a fresh decline. There was a move below the $1,545 support zone. The price traded as low as $1,525 and the bulls were active above the $1,500 level. It is now consolidating losses below $1,560 and the 100 hourly simple moving average. Ether price corrected a few points above the $1,540 resistance zone. It cleared the 23.6% Fib retracement level of the downward move from the $1,565 swing high to $1,525 low. On the upside, the price is facing resistance near the $1,550 zone. There is also a connecting bearish trend line forming with resistance near $1,550 on the hourly chart of ETH\/USD. The first major resistance is near the $1,560 zone. It is near the 76.4% Fib retracement level of the downward move from the $1,565 swing high to $1,525 low. Source: ETHUSD on TradingView.com The next major resistance is near the $1,575 level, above which the price might start a decent increase. The next major resistance is near the $1,600 zone. A close above the $1,600 resistance zone might start a major upward move. In this case, the price may perhaps rise towards the $1,650 level. More Losses in ETH? If ethereum fails to clear the $1,560 resistance, it could start another decline. An initial support on the downside is near the $1,525 level. The next major support is near the $1,500 zone. If there is a break below $1,500, the price might drop towards $1,435. Any more losses might call for a test of the $1,400 level. 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 below the 50 level. Major Support Level \u2013 $1,500 Major Resistance Level \u2013 $1,560<\/p>\n","protected":false},"author":67,"featured_media":512847,"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-522415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price is Plunging, But It's Too Early to Say Bulls Have Given Up<\/title>\n<meta name=\"description\" content=\"Ethereum price is moving lower below $1,600 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":"Ethereum Price is Plunging, But It’s Too Early to Say Bulls Have Given Up","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-price-is-plunging-1500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-price-is-plunging-1500\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/iStock-1333288705.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/12\/iStock-1333288705.jpg?fit=1243%2C843"},"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":"2023-03-09T08:48:26Z","datePublished":"2023-03-09T08:48:26Z","dateModified":"2024-06-11T14:34:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price is Plunging, But It’s Too Early to Say Bulls Have Given Up\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-price-is-plunging-1500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-price-is-plunging-1500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/iStock-1333288705.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/12\\\/iStock-1333288705.jpg?fit=1243%2C843\"},\"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\":\"2023-03-09T08:48:26Z\",\"datePublished\":\"2023-03-09T08:48:26Z\",\"dateModified\":\"2024-06-11T14:34:09Z\"}<\/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\/2022\/12\/iStock-1333288705.jpg?fit=1243%2C843","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/522415"}],"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=522415"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/522415\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/512847"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=522415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=522415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=522415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}