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{"id":461574,"date":"2021-04-19T04:08:28","date_gmt":"2021-04-19T04:08:28","guid":{"rendered":"https:\/\/wncen.com\/?p=461574"},"modified":"2024-06-11T13:55:04","modified_gmt":"2024-06-11T13:55:04","slug":"ethereum-2300-is-a-major-hurdle","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-2300-is-a-major-hurdle\/","title":{"rendered":"TA: Ethereum Corrects Losses, Here\u2019s Why $2,300 Is A Major Hurdle"},"content":{"rendered":"

Ethereum started a sharp downside correction below $2,400 and $2,300 against the US Dollar. ETH price is correcting losses, but it is likely to face sellers near $2,300.<\/em><\/p>\n

\n
Ethereum declined heavily from well above $2,400 and tested the $2,000 zone.<\/li>\n
The price is now trading well below $2,300 and the 100 hourly simple moving average.<\/li>\n
There was a break above a key bearish trend line with resistance near $2,250 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair is likely to face a strong resistance near $2,300 and $2,320.<\/li>\n<\/ul>\n
Ethereum Price Is Correcting Losses<\/h2>\n
Ethereum formed a short-term top near the $2,550 level and started a major decline. ETH traded below many important supports near the $2,400 and $2,300.<\/p>\n
The price even declined below the $2,200 support and settled well below the 100 hourly simple moving average, similar to bitcoin<\/a>. It even spiked below the $2,000 support and traded as low as $1,951. Recently, ether started a decent recovery and climbed above the $2,100 and $2,200 levels.<\/p>\n
There was a break above the 50% Fib retracement level of the downward move from the $2,496 swing high to $1,951 low. There was also a break above a key bearish trend line with resistance near $2,250 on the hourly chart of ETH\/USD.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
The pair is now consolidating near the $2,250 level. On the upside, there is a major resistance forming near the $2,300 level and the 100 hourly simple moving average. The 61.8% Fib retracement level of the downward move from the $2,496 swing high to $1,951 low is also near $2,288.<\/p>\n
A successful close above the $2,300 level and the 100 hourly SMA<\/a> is must to move back into a positive zone. The next major resistance sits near $2,350.<\/p>\n
Fresh Decline in ETH?<\/h2>\n
If Ethereum fails to clear the $2,300 level and the 100 hourly SMA, there is a risk of a fresh decline. An initial support on the downside is near the $2,200 level.<\/p>\n
The next major support is near the $2,175 level. A successful downside break below the $2,175 support zone could open the doors for a move towards the $2,100 support in the coming sessions.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining momentum in the bullish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now back above the 50 level.<\/p>\n
Major Support Level \u2013 $2,200<\/p>\n
Major Resistance Level \u2013 $2,300<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum started a sharp downside correction below $2,400 and $2,300 against the US Dollar. ETH price is correcting losses, but it is likely to face sellers near $2,300. Ethereum declined heavily from well above $2,400 and tested the $2,000 zone. The price is now trading well below $2,300 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $2,250 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to face a strong resistance near $2,300 and $2,320. Ethereum Price Is Correcting Losses Ethereum formed a short-term top near the $2,550 level and started a major decline. ETH traded below many important supports near the $2,400 and $2,300. The price even declined below the $2,200 support and settled well below the 100 hourly simple moving average, similar to bitcoin. It even spiked below the $2,000 support and traded as low as $1,951. Recently, ether started a decent recovery and climbed above the $2,100 and $2,200 levels. There was a break above the 50% Fib retracement level of the downward move from the $2,496 swing high to $1,951 low. There was also a break above a key bearish trend line with resistance near $2,250 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com The pair is now consolidating near the $2,250 level. On the upside, there is a major resistance forming near the $2,300 level and the 100 hourly simple moving average. The 61.8% Fib retracement level of the downward move from the $2,496 swing high to $1,951 low is also near $2,288. A successful close above the $2,300 level and the 100 hourly SMA is must to move back into a positive zone. The next major resistance sits near $2,350. Fresh Decline in ETH? If Ethereum fails to clear the $2,300 level and the 100 hourly SMA, there is a risk of a fresh decline. An initial support on the downside is near the $2,200 level. The next major support is near the $2,175 level. A successful downside break below the $2,175 support zone could open the doors for a move towards the $2,100 support in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now back above the 50 level. Major Support Level \u2013 $2,200 Major Resistance Level \u2013 $2,300<\/p>\n","protected":false},"author":67,"featured_media":461576,"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":[1946,8686,78803],"class_list":["post-461574","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nTA: Ethereum Corrects Losses, Here\u2019s Why $2,300 Is A Major Hurdle<\/title>\n<meta name=\"description\" content=\"Ethereum started a sharp downside correction below $2,400 and $2,300 against the US Dollar. 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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":"TA: Ethereum Corrects Losses, Here\u2019s Why $2,300 Is A Major Hurdle","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-2300-is-a-major-hurdle\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-2300-is-a-major-hurdle\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_481530088.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/shutterstock_481530088.jpg?fit=1000%2C683"},"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":["ethereum","ethusd","ethusdt"],"dateCreated":"2021-04-19T04:08:28Z","datePublished":"2021-04-19T04:08:28Z","dateModified":"2024-06-11T13:55:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Corrects Losses, Here\\u2019s Why $2,300 Is A Major Hurdle\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-2300-is-a-major-hurdle\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-2300-is-a-major-hurdle\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_481530088.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_481530088.jpg?fit=1000%2C683\"},\"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\":[\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2021-04-19T04:08:28Z\",\"datePublished\":\"2021-04-19T04:08:28Z\",\"dateModified\":\"2024-06-11T13:55:04Z\"}<\/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\/2021\/04\/shutterstock_481530088.jpg?fit=1000%2C683","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/461574","targetHints":{"allow":["GET"]}}],"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=461574"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/461574\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/461576"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=461574"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=461574"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=461574"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}