ETHUSD on TradingView.com<\/a><\/p>\nA close above the $2,300 resistance could start a decent upward move. The next key resistance is near $2,400. If the bulls push Ethereum above $2,400, there could be a rally toward $2,500. Any more gains might send the price toward the $2,620 zone.<\/p>\n
More Losses in ETH?<\/h2>\n If Ethereum fails to clear the $2,250 resistance, it could start a fresh decline. Initial support on the downside is near the $2,120 level.<\/p>\n
The first key support could be the $2,080 zone or the 50% Fib retracement level of the upward wave from the $1,860 swing low to the $2,289 high. A downside break and a close below $2,080 might spark strong bearish moves. In the stated case, Ether could test the $2,020 support. Any more losses might send the price toward the $1,960 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\nHourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\nMajor Support Level \u2013 $2,080<\/p>\n
Major Resistance Level \u2013 $2,280<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is struggling to clear the $2,300 resistance zone. ETH is showing a few bearish signs and might decline toward the $2,080 support. Ethereum is still struggling to clear the $2,280 and $2,300 resistance levels. The price is trading below $2,260 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $2,240 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could extend its decline if it stays below the $2,300 resistance zone. Ethereum Price Faces Major Hurdle Ethereum price attempted a fresh increase above the $2,200 level, like Bitcoin. ETH climbed above the $2,250 and $2,260 levels. However, the bears were active near $2,300 and the 100-hourly Simple Moving Average. A high was formed near $2,289 and the price recently saw a bearish reaction. There was a move below the $2,250 level. The price traded below the 23.6% Fib retracement level of the upward wave from the $1,860 swing low to the $2,289 high. Ethereum is now trading below $2,260 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance near $2,240 on the hourly chart of ETH\/USD. If there is a fresh increase, the price might face resistance near the $2,250 level and the trend line. The first major resistance is now near $2,280. The next major hurdle sits at $2,300. Source: ETHUSD on TradingView.com A close above the $2,300 resistance could start a decent upward move. The next key resistance is near $2,400. If the bulls push Ethereum above $2,400, there could be a rally toward $2,500. Any more gains might send the price toward the $2,620 zone. More Losses in ETH? If Ethereum fails to clear the $2,250 resistance, it could start a fresh decline. Initial support on the downside is near the $2,120 level. The first key support could be the $2,080 zone or the 50% Fib retracement level of the upward wave from the $1,860 swing low to the $2,289 high. A downside break and a close below $2,080 might spark strong bearish moves. In the stated case, Ether could test the $2,020 support. Any more losses might send the price toward the $1,960 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 $2,080 Major Resistance Level \u2013 $2,280<\/p>\n","protected":false},"author":67,"featured_media":506045,"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-568465","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 Signals Bearish Rection, Why ETH Could Drop 5%<\/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