ETHUSD on TradingView.com<\/a><\/p>\nIf there is a clear move above $2,400, there could be a drift toward $2,500. The next resistance sits at $2,500, above which Ethereum might rally and test the $2,620 zone.<\/p>\n
Fresh Decline in ETH?<\/h2>\n If Ethereum fails to clear the $2,300 resistance, it could start a fresh decline. Initial support on the downside is near the $2,185 level.<\/p>\n
The first key support could be the $2,075 zone or the 50% Fib retracement level of the upward move from the $1,860 swing low to the $2,289 high. A downside break and a close below $2,075 might start another steady decline. In the stated case, Ether could test the $2,000 support. Any more losses might send the price toward the $1,860 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\nHourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\nMajor Support Level \u2013 $2,185<\/p>\n
Major Resistance Level \u2013 $2,300<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price failed to recover further above the $2,300 resistance. ETH is showing a few bearish signs and might revisit the $2,080 support. Ethereum is struggling to clear the $2,280 and $2,300 resistance levels. The price is trading below $2,300 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $2,280 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,300 resistance zone. Ethereum Price Faces Rejection Ethereum price started a recovery wave above the $2,120 level, like Bitcoin. ETH was able to clear the $2,200 and $2,220 resistance levels. However, the bears were active near $2,300 and the 100-hourly Simple Moving Average. The price failed to clear the 76.4% Fib retracement level of the downward move from the $2,430 swing high to the $1,860 low. It is now struggling to clear the $2,280 and $2,300 resistance levels. There is also a major bearish trend line forming with resistance near $2,280 on the hourly chart of ETH\/USD. Ethereum is now below $2,300 and the 100-hourly Simple Moving Average, but it is still above the 23.6% Fib retracement level of the upward move from the $1,860 swing low to the $2,289 high. On the upside, the price is facing resistance near the $2,280 level and the trend line. The first major resistance is now near $2,300. A close above the $2,300 resistance could start a decent upward move. The next key resistance is near $2,400. Source: ETHUSD on TradingView.com If there is a clear move above $2,400, there could be a drift toward $2,500. The next resistance sits at $2,500, above which Ethereum might rally and test the $2,620 zone. Fresh Decline in ETH? If Ethereum fails to clear the $2,300 resistance, it could start a fresh decline. Initial support on the downside is near the $2,185 level. The first key support could be the $2,075 zone or the 50% Fib retracement level of the upward move from the $1,860 swing low to the $2,289 high. A downside break and a close below $2,075 might start another steady decline. In the stated case, Ether could test the $2,000 support. Any more losses might send the price toward the $1,860 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,185 Major Resistance Level \u2013 $2,300<\/p>\n","protected":false},"author":67,"featured_media":462031,"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-568187","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
Ethereum Price Tops At 100 SMA, Why ETH Could Struggle In Near Term<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n