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{"id":552718,"date":"2023-09-25T04:40:01","date_gmt":"2023-09-25T04:40:01","guid":{"rendered":"https:\/\/wncen.com\/?p=552718"},"modified":"2024-06-11T14:29:35","modified_gmt":"2024-06-11T14:29:35","slug":"ethereum-price-breakdown-1600","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-breakdown-1600\/","title":{"rendered":"Ethereum Price Just Saw Bearish Breakdown: Can Bulls Save The Day?"},"content":{"rendered":"

Ethereum price dropped further below $1,600 against the US Dollar. ETH is in the red zone and might dive toward the $1,500 support zone.<\/em><\/p>\n

\n
Ethereum is gaining pace below the $1,600 support zone.<\/li>\n
The price is trading below $1,600 and the 100-hourly Simple Moving Average.<\/li>\n
There is a key bearish trend line forming with resistance near $1,600 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair is struggling and might dive further toward the $1,500 support in the short term.<\/li>\n<\/ul>\n
Ethereum Price Extends Losses<\/h2>\n
Ethereum\u2019s price remained in a bearish zone below the $1,660 and $1,670 resistance levels. ETH declined below the $1,600 support level to move further enter a bearish zone, like Bitcoin<\/a>.<\/p>\n
The price even declined below the $1,580 level and settled below the 100-hourly Simple Moving Average<\/a>. A low was formed near $1,571 and the price is now consolidating losses. The price is testing the 23.6% Fib retracement level of the recent decline from the $1,600 swing high to the $1,571 low.<\/p>\n
Ether is now trading below $1,580 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,600 on the hourly chart of ETH\/USD.<\/p>\n
On the upside, the price might face resistance near the $1,590 level. It is close to the 61.8% Fib retracement level of the recent decline from the $1,600 swing high to the $1,571 low. The next major resistance is near $1,600 and the trend line.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
The main hurdle is now forming near $1,620. A close above the $1,620 resistance might send the price toward the $1,650 resistance. If the bulls pump Ethereum above $1,650, the price could rise toward $1,720. Any more gains might open the doors for a move toward $1,820.<\/p>\n
More Losses in ETH?<\/h2>\n
If Ethereum fails to clear the $1,600 resistance, it could start another decline. Initial support on the downside is near the $1,570 level.<\/p>\n
The next key support is $1,540. A downside break below $1,540 might push the price further into a bearish zone. In the stated case, there could be a drop toward the $1,500 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is 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 $1,570<\/p>\n
Major Resistance Level \u2013 $1,600<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price dropped further below $1,600 against the US Dollar. ETH is in the red zone and might dive toward the $1,500 support zone. Ethereum is gaining pace below the $1,600 support zone. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,600 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is struggling and might dive further toward the $1,500 support in the short term. Ethereum Price Extends Losses Ethereum\u2019s price remained in a bearish zone below the $1,660 and $1,670 resistance levels. ETH declined below the $1,600 support level to move further enter a bearish zone, like Bitcoin. The price even declined below the $1,580 level and settled below the 100-hourly Simple Moving Average. A low was formed near $1,571 and the price is now consolidating losses. The price is testing the 23.6% Fib retracement level of the recent decline from the $1,600 swing high to the $1,571 low. Ether is now trading below $1,580 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,600 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,590 level. It is close to the 61.8% Fib retracement level of the recent decline from the $1,600 swing high to the $1,571 low. The next major resistance is near $1,600 and the trend line. Source: ETHUSD on TradingView.com The main hurdle is now forming near $1,620. A close above the $1,620 resistance might send the price toward the $1,650 resistance. If the bulls pump Ethereum above $1,650, the price could rise toward $1,720. Any more gains might open the doors for a move toward $1,820. More Losses in ETH? If Ethereum fails to clear the $1,600 resistance, it could start another decline. Initial support on the downside is near the $1,570 level. The next key support is $1,540. A downside break below $1,540 might push the price further into a bearish zone. In the stated case, there could be a drop toward the $1,500 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,570 Major Resistance Level \u2013 $1,600<\/p>\n","protected":false},"author":67,"featured_media":457436,"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":[65296,1946,8686,78803],"class_list":["post-552718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Just Saw Bearish Breakdown: Can Bulls Save The Day?<\/title>\n<meta name=\"description\" content=\"Ethereum price dropped further 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 Just Saw Bearish Breakdown: Can Bulls Save The Day?","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-price-breakdown-1600\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-price-breakdown-1600\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/shutterstock_786496693.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/02\/shutterstock_786496693.jpg?fit=1527%2C1080"},"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":["ethbtc","ethereum","ethusd","ethusdt"],"dateCreated":"2023-09-25T04:40:01Z","datePublished":"2023-09-25T04:40:01Z","dateModified":"2024-06-11T14:29:35Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Just Saw Bearish Breakdown: Can Bulls Save The Day?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-price-breakdown-1600\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-price-breakdown-1600\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/shutterstock_786496693.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/02\\\/shutterstock_786496693.jpg?fit=1527%2C1080\"},\"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\":[\"ethbtc\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2023-09-25T04:40:01Z\",\"datePublished\":\"2023-09-25T04:40:01Z\",\"dateModified\":\"2024-06-11T14:29:35Z\"}<\/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\/02\/shutterstock_786496693.jpg?fit=1527%2C1080","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/552718","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=552718"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/552718\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/457436"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=552718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=552718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=552718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}