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{"id":561878,"date":"2023-11-22T04:30:22","date_gmt":"2023-11-22T04:30:22","guid":{"rendered":"https:\/\/wncen.com\/?p=561878"},"modified":"2024-06-11T07:44:50","modified_gmt":"2024-06-11T07:44:50","slug":"ethereum-price-recovery-trouble-2000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-recovery-trouble-2000\/","title":{"rendered":"Ethereum Price Recovery In Trouble? Here Are Key Hurdles To Fresh Increase"},"content":{"rendered":"

Ethereum price declined sharply alongside Bitcoin. ETH traded below $2,000, but it is still holding the key support at $1,920 and might attempt a fresh increase.<\/em><\/p>\n

\n
Ethereum struggled to clear the $2,070 resistance and corrected lower.<\/li>\n
The price is trading below $2,000 and the 100-hourly Simple Moving Average.<\/li>\n
There is a key bearish trend line forming with resistance near $1,990 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could start a fresh increase if it clears the $2,000 hurdle.<\/li>\n<\/ul>\n
Ethereum Price Eyes Fresh Increase<\/h2>\n
Ethereum price failed to clear the $2,070 resistance and reacted to the downside. ETH declined below the $2,000 support zone after reports of Binance\u2019s settlement, like Bitcoin<\/a>.<\/p>\n
The bears even pushed the price below the $1,950 support zone and the 100-hourly Simple Moving Average. However, Ether stayed above the $1,920 support<\/a> zone. A low was formed near $1,930 and the price is now attempting a fresh increase.<\/p>\n
Ethereum broke the 23.6% Fib retracement level of the recent decline from the $2,068 swing high to the $1,930 level. However, it is still below $2,000 and the 100-hourly Simple Moving Average.<\/p>\n
On the upside, the price is facing resistance near the $1,990 zone. There is also a key bearish trend line forming with resistance near $1,990 on the hourly chart of ETH\/USD. The first key resistance is near the $2,000 level or the 50% Fib retracement level of the recent decline from the $2,068 swing high to the $1,930 level.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
A clear move above the $2,000 level could spark bullish moves. The next resistance is near $2,070, above which the price could aim for a move toward the $2,120 level. Any more gains could start a wave toward the $2,200 level.<\/p>\n
More Losses in ETH?<\/h2>\n
If Ethereum fails to clear the $2,000 resistance, it could start a fresh decline. Initial support on the downside is near the $1,950 level.<\/p>\n
The next key support is $1,930 or $1,920. The main support is still near $1,905. A downside break below the $1,905 support might trigger more losses. In the stated case, Ether could drop toward the $1,820 support zone in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now near the 50 level.<\/p>\n
Major Support Level \u2013 $1,930<\/p>\n
Major Resistance Level \u2013 $2,000<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price declined sharply alongside Bitcoin. ETH traded below $2,000, but it is still holding the key support at $1,920 and might attempt a fresh increase. Ethereum struggled to clear the $2,070 resistance and corrected lower. The price is trading below $2,000 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,990 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,000 hurdle. Ethereum Price Eyes Fresh Increase Ethereum price failed to clear the $2,070 resistance and reacted to the downside. ETH declined below the $2,000 support zone after reports of Binance\u2019s settlement, like Bitcoin. The bears even pushed the price below the $1,950 support zone and the 100-hourly Simple Moving Average. However, Ether stayed above the $1,920 support zone. A low was formed near $1,930 and the price is now attempting a fresh increase. Ethereum broke the 23.6% Fib retracement level of the recent decline from the $2,068 swing high to the $1,930 level. However, it is still below $2,000 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $1,990 zone. There is also a key bearish trend line forming with resistance near $1,990 on the hourly chart of ETH\/USD. The first key resistance is near the $2,000 level or the 50% Fib retracement level of the recent decline from the $2,068 swing high to the $1,930 level. Source: ETHUSD on TradingView.com A clear move above the $2,000 level could spark bullish moves. The next resistance is near $2,070, above which the price could aim for a move toward the $2,120 level. Any more gains could start a wave toward the $2,200 level. More Losses in ETH? If Ethereum fails to clear the $2,000 resistance, it could start a fresh decline. Initial support on the downside is near the $1,950 level. The next key support is $1,930 or $1,920. The main support is still near $1,905. A downside break below the $1,905 support might trigger more losses. In the stated case, Ether could drop toward the $1,820 support zone in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now near the 50 level. Major Support Level \u2013 $1,930 Major Resistance Level \u2013 $2,000<\/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-561878","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 Recovery In Trouble? 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