{"id":490019,"date":"2022-05-09T05:08:41","date_gmt":"2022-05-09T05:08:41","guid":{"rendered":"https:\/\/wncen.com\/?p=490019"},"modified":"2024-06-11T14:20:54","modified_gmt":"2024-06-11T14:20:54","slug":"ethereum-bears-aim-big-2k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-bears-aim-big-2k\/","title":{"rendered":"TA: Ethereum Bears Aim Big After Recent Breakdown Below $2.5K"},"content":{"rendered":"
Ethereum started a major decline from the $2,700 zone against the US Dollar. ETH dived below $2,550 and might accelerate lower below the $2,420 support.<\/em><\/p>\n Ethereum struggled to settle above the $2,700 resistance<\/a>. ETH topped near the $2,700 level and started a fresh decline. There was a sharp move below the $2,620 and $2,550 levels.<\/p>\n The bears even pushed the price below the $2,500 level and the 100 hourly simple moving average<\/a>. A low is formed near $2,422 and the price is now consolidating losses. On the upside, an initial resistance is seen near the $2,485 level.<\/p>\n There is also a key bearish trend line forming with resistance near $2,490 on the hourly chart of ETH\/USD. The trend line is near the 23.6% Fib retracement level of the recent decline from the $2,703 swing high to $2,422 low. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n The first major resistance is near the $2,565 level. It is near the 50% Fib retracement level of the recent decline from the $2,703 swing high to $2,422 low. The main breakout zone is now near the $2,650 level and the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n A close above the $2,650 level could open the doors for a decent increase. In the stated case, ether price might rise towards the $2,700 resistance.<\/p>\n If ethereum fails to gain pace above the $2,565 resistance, it could continue to move down. An initial support on the downside is near the $2,420 zone.<\/p>\n\n
Ethereum Price Takes Hit<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n