{"id":555474,"date":"2023-10-16T04:21:29","date_gmt":"2023-10-16T04:21:29","guid":{"rendered":"https:\/\/wncen.com\/?p=555474"},"modified":"2024-06-11T14:30:08","modified_gmt":"2024-06-11T14:30:08","slug":"ethereum-price-avoids-collapse-1520","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-avoids-collapse-1520\/","title":{"rendered":"Ethereum Price Avoids Collapse But Recovery Could Be Capped"},"content":{"rendered":"<p><em>Ethereum price managed to recover from the $1,520 level against the US dollar. ETH is now facing hurdles near the $1,565 and $1,600 resistance levels.<\/em><\/p>\n<ul>\n<li>Ethereum is attempting a recovery wave above the $1,550 level.<\/li>\n<li>The price is trading just above $1,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break above a major bearish trend line with resistance near $1,555 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start another decline unless there is a clear move above $1,565 and $1,600.<\/li>\n<\/ul>\n<h2>Ethereum Price Starts Minor Recovery<\/h2>\n<p>Ethereum managed to stay above the $1,500 and $1,520 levels. ETH formed a short-term support base and recently started a fresh increase from the $1,520 zone, like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-correction-27500-2\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>.<\/p>\n<p>There was a move above the $1,550 resistance level. The price climbed above the 23.6% Fib retracement level of the main drop from the $1,664 swing high to the $1,521 low. Besides, there was a break above a major bearish trend line with resistance near $1,555 on the hourly chart of ETH\/USD.<\/p>\n<p>Ethereum is now trading just above <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-plunge-imminent-1440\/\" target=\"_blank\" rel=\"noopener \">$1,550 and the 100-hourly Simple Moving Average<\/a>. However, the bears seem to be preventing an upside break above the $1,565 resistance.<\/p>\n<p>If there is a clear move above the $1,565 resistance, Ether could rise toward the next major hurdle at $1,600. It is close to the 50% Fib retracement level of the main drop from the $1,664 swing high to the $1,521 low. A close above the $1,600 resistance might start a decent increase.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Ethereum-11.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-555475\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Ethereum-11.png?resize=1024%2C468\" alt=\"Ethereum Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Ethereum-11.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Ethereum-11.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Ethereum-11.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Ethereum-11.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Ethereum-11.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Ethereum-11.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/10\/Ethereum-11.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>In the stated case, Ether could rise and recover toward the $1,665 resistance. Any more gains might open the doors for a move toward $1,750.<\/p>\n<h2>Another Decline in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,565 resistance, it could start another decline. Initial support on the downside is near the $1,550 level and the 100-hourly Simple Moving Average.<\/p>\n<p>The next key support is $1,520. A downside break below the $1,520 support might send the price further lower. In the stated case, the price could drop toward the $1,440 level. Any more losses may perhaps send Ether toward the $1,420 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,550<\/p>\n<p>Major Resistance Level \u2013 $1,565<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price managed to recover from the $1,520 level against the US dollar. ETH is now facing hurdles near the $1,565 and $1,600 resistance levels. Ethereum is attempting a recovery wave above the $1,550 level. The price is trading just above $1,550 and the 100-hourly Simple Moving Average. There was a break above a major bearish trend line with resistance near $1,555 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start another decline unless there is a clear move above $1,565 and $1,600. Ethereum Price Starts Minor Recovery Ethereum managed to stay above the $1,500 and $1,520 levels. ETH formed a short-term support base and recently started a fresh increase from the $1,520 zone, like Bitcoin. There was a move above the $1,550 resistance level. The price climbed above the 23.6% Fib retracement level of the main drop from the $1,664 swing high to the $1,521 low. Besides, there was a break above a major bearish trend line with resistance near $1,555 on the hourly chart of ETH\/USD. Ethereum is now trading just above $1,550 and the 100-hourly Simple Moving Average. However, the bears seem to be preventing an upside break above the $1,565 resistance. If there is a clear move above the $1,565 resistance, Ether could rise toward the next major hurdle at $1,600. It is close to the 50% Fib retracement level of the main drop from the $1,664 swing high to the $1,521 low. A close above the $1,600 resistance might start a decent increase. Source: ETHUSD on TradingView.com In the stated case, Ether could rise and recover toward the $1,665 resistance. Any more gains might open the doors for a move toward $1,750. Another Decline in ETH? If Ethereum fails to clear the $1,565 resistance, it could start another decline. Initial support on the downside is near the $1,550 level and the 100-hourly Simple Moving Average. The next key support is $1,520. A downside break below the $1,520 support might send the price further lower. In the stated case, the price could drop toward the $1,440 level. Any more losses may perhaps send Ether toward the $1,420 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $1,550 Major Resistance Level \u2013 $1,565<\/p>\n","protected":false},"author":67,"featured_media":551696,"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-555474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Avoids Collapse But Recovery Could Be Capped<\/title>\n<meta name=\"description\" content=\"Ethereum price managed to recover from the $1,520 level against the US dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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 Avoids Collapse But Recovery Could Be Capped","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-price-avoids-collapse-1520\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-price-avoids-collapse-1520\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/iStock-947893644.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/iStock-947893644.jpg?fit=1254%2C837"},"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":"2023-10-16T04:21:29Z","datePublished":"2023-10-16T04:21:29Z","dateModified":"2024-06-11T14:30:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Avoids Collapse But Recovery Could Be Capped\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-price-avoids-collapse-1520\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-price-avoids-collapse-1520\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/iStock-947893644.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/iStock-947893644.jpg?fit=1254%2C837\"},\"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\":\"2023-10-16T04:21:29Z\",\"datePublished\":\"2023-10-16T04:21:29Z\",\"dateModified\":\"2024-06-11T14:30:08Z\"}<\/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\/2023\/09\/iStock-947893644.jpg?fit=1254%2C837","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/555474"}],"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=555474"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/555474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/551696"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=555474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=555474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=555474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}