{"id":555826,"date":"2023-10-18T04:18:39","date_gmt":"2023-10-18T04:18:39","guid":{"rendered":"https:\/\/wncen.com\/?p=555826"},"modified":"2024-06-11T10:26:03","modified_gmt":"2024-06-11T10:26:03","slug":"ethereum-underperforms-bitcoin-1550","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-underperforms-bitcoin-1550\/","title":{"rendered":"Ethereum Underperforms Bitcoin, Bulls Struggle To Protect Key Support"},"content":{"rendered":"
Ethereum price failed to start fresh increase above $1,600 against the US dollar. ETH is now struggling to stay above the $1,550 support zone.<\/em><\/p>\n
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Ethereum extended its decline and tested the $1,550 support zone.<\/li>\n
The price is trading just below $1,580 and the 100-hourly Simple Moving Average.<\/li>\n
There is a connecting bearish trend line forming with resistance near $1,570 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could accelerate lower if the bulls fail to protect the $1,550 support.<\/li>\n<\/ul>\n
Ethereum Price Dips Further<\/h2>\n
Ethereum struggled to settle above $1,650 and started a fresh decline. ETH traded below the $1,620 and $1,600 support levels. There was a short consolidation phase before the price extended its decline, unlike Bitcoin<\/a>.<\/p>\n