{"id":493925,"date":"2022-06-23T05:08:44","date_gmt":"2022-06-23T05:08:44","guid":{"rendered":"https:\/\/wncen.com\/?p=493925"},"modified":"2024-06-11T14:20:59","modified_gmt":"2024-06-11T14:20:59","slug":"ethereum-consolidates-below-1100","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-consolidates-below-1100\/","title":{"rendered":"TA: Ethereum Consolidates Below $1,100: What Could Trigger Sharp Decline"},"content":{"rendered":"
Ethereum is struggling below the $1,100 zone against the US Dollar. ETH could gain bearish momentum if it breaks the $1,030 support zone.<\/em><\/p>\n Ethereum started a downside correction<\/a> after it failed near $1,190 and $1,200. ETH corrected lower and traded below the $1,120 support zone.<\/p>\n There was a clear move below the 23.6% Fib retracement level of the upward wave from the $880 swing low to $1,192 high. Ether price even settled below the $1,150 zone and the 100 hourly simple moving average<\/a>. However, the bulls were active above the $1,030 support.<\/p>\n Ether price stayed above the 50% Fib retracement level of the upward wave from the $880 swing low to $1,192 high. An immediate resistance on the upside is near the $1,080 level.<\/p>\n There is also a key bearish trend line forming with resistance near $1,080 on the hourly chart of ETH\/USD. The next major resistance is near the $1,120 zone. The main resistance sits near the $1,150 level. A clear move above the $1,150 resistance zone could start a steady increase.<\/p>\n <\/a><\/p>\n The next major resistance is near the $1,200 level or the $1,192 high. Any more gains could start a move towards the $1,280 resistance in the near term.<\/p>\n If ethereum fails to rise above the $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,040 zone.<\/p>\n The next major support is near the $1,030 zone. A close below the $1,030 level might push the price below $1,000. In the stated case, ether price may perhaps decline towards the $950 level. Any more losses might call for a move towards the $880 support zone in the coming sessions.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n Major Support Level \u2013 $1,030<\/p>\n Major Resistance Level \u2013 $1,120<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is struggling below the $1,100 zone against the US Dollar. ETH could gain bearish momentum if it breaks the $1,030 support zone. Ethereum is facing resistance near the $1,100 and $1,120 levels. The price is now trading below $1,150 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,080 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could decline heavily if there is a clear move below the $1,030 and $1,000 levels. Ethereum Price Faces Hurdles Ethereum started a downside correction after it failed near $1,190 and $1,200. ETH corrected lower and traded below the $1,120 support zone. There was a clear move below the 23.6% Fib retracement level of the upward wave from the $880 swing low to $1,192 high. Ether price even settled below the $1,150 zone and the 100 hourly simple moving average. However, the bulls were active above the $1,030 support. Ether price stayed above the 50% Fib retracement level of the upward wave from the $880 swing low to $1,192 high. An immediate resistance on the upside is near the $1,080 level. There is also a key bearish trend line forming with resistance near $1,080 on the hourly chart of ETH\/USD. The next major resistance is near the $1,120 zone. The main resistance sits near the $1,150 level. A clear move above the $1,150 resistance zone could start a steady increase. Source: ETHUSD on TradingView.com The next major resistance is near the $1,200 level or the $1,192 high. Any more gains could start a move towards the $1,280 resistance in the near term. More Losses in ETH? If ethereum fails to rise above the $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,040 zone. The next major support is near the $1,030 zone. A close below the $1,030 level might push the price below $1,000. In the stated case, ether price may perhaps decline towards the $950 level. Any more losses might call for a move towards the $880 support zone in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,030 Major Resistance Level \u2013 $1,120<\/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-493925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Faces Hurdles<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n