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{"id":494795,"date":"2022-07-04T05:08:39","date_gmt":"2022-07-04T05:08:39","guid":{"rendered":"https:\/\/wncen.com\/?p=494795"},"modified":"2024-06-11T14:21:17","modified_gmt":"2024-06-11T14:21:17","slug":"ethereum-larger-degree-downtrend-1k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-larger-degree-downtrend-1k\/","title":{"rendered":"TA: Ethereum Close Below $1K Could Spark Larger Degree Downtrend"},"content":{"rendered":"

Ethereum is struggling below $1,080 against the US Dollar. ETH could decline heavily if there is a close below the $1,000 support zone.<\/em><\/p>\n

\n
Ethereum remained in a bearish zone below $1,100 and $1,080 levels.<\/li>\n
The price is now trading below $1,100 and the 100 hourly simple moving average.<\/li>\n
There is a key bullish trend line forming with support near $1,050 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could decline again unless there is a clear move above the $1,120 resistance zone.<\/li>\n<\/ul>\n
Ethereum Price Remains At Risk<\/h2>\n
Ethereum remained in a bearish zone<\/a> and retested the $1,000 support zone. ETH formed a base near $1,000 and recently corrected higher.<\/p>\n
There was a minor recovery wave above the $1,030 and $1,050 level. Ether price climbed above 23.6% Fib retracement level of the key decline from the $1,236 swing high to $997 low. It even attempted an upside break above the $1,100 level but failed.<\/p>\n
It is now trading below $1,100 and the 100 hourly simple moving average<\/a>. There is also a key bullish trend line forming with support near $1,050 on the hourly chart of ETH\/USD.<\/p>\n
An immediate resistance on the upside is near the $1,060 level. The next major resistance is near the $1,080 zone. The first major hurdle is near the $1,100 zone or the 50% Fib retracement level of the key decline from the $1,236 swing high to $997 low. A close above the $1,120 resistance zone could start a decent increase.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
In the stated case, the price could rise towards the $1,180 resistance. Any more gains might send the price towards the $1,236 high.<\/p>\n
More Losses in ETH?<\/h2>\n
If ethereum fails to rise above the $1,080 resistance, it could continue to move down. An initial support on the downside is near the $1,050 zone or the trend line.<\/p>\n
The next major support is near the $1,000 zone. A close below the $1,000 level might spark a sharp decline. In the stated scenario, ether price may perhaps slide towards the $925 level. Any more losses could send the price towards the $880 support zone.<\/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 $1,000<\/p>\n
Major Resistance Level \u2013 $1,080<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum is struggling below $1,080 against the US Dollar. ETH could decline heavily if there is a close below the $1,000 support zone. Ethereum remained in a bearish zone below $1,100 and $1,080 levels. The price is now trading below $1,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $1,050 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could decline again unless there is a clear move above the $1,120 resistance zone. Ethereum Price Remains At Risk Ethereum remained in a bearish zone and retested the $1,000 support zone. ETH formed a base near $1,000 and recently corrected higher. There was a minor recovery wave above the $1,030 and $1,050 level. Ether price climbed above 23.6% Fib retracement level of the key decline from the $1,236 swing high to $997 low. It even attempted an upside break above the $1,100 level but failed. It is now trading below $1,100 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $1,050 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,060 level. The next major resistance is near the $1,080 zone. The first major hurdle is near the $1,100 zone or the 50% Fib retracement level of the key decline from the $1,236 swing high to $997 low. A close above the $1,120 resistance zone could start a decent increase. Source: ETHUSD on TradingView.com In the stated case, the price could rise towards the $1,180 resistance. Any more gains might send the price towards the $1,236 high. More Losses in ETH? If ethereum fails to rise above the $1,080 resistance, it could continue to move down. An initial support on the downside is near the $1,050 zone or the trend line. The next major support is near the $1,000 zone. A close below the $1,000 level might spark a sharp decline. In the stated scenario, ether price may perhaps slide towards the $925 level. Any more losses could send the price towards the $880 support zone. 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 $1,000 Major Resistance Level \u2013 $1,080<\/p>\n","protected":false},"author":67,"featured_media":461707,"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-494795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nTA: Ethereum Close Below $1K Could Spark Larger Degree Downtrend<\/title>\n<meta name=\"description\" content=\"Ethereum is struggling below $1,080 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 Close Below $1K Could Spark Larger Degree Downtrend","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-larger-degree-downtrend-1k\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-larger-degree-downtrend-1k\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Depositphotos_39681551_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/04\/Depositphotos_39681551_s-2019.jpg?fit=999%2C693"},"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":"2022-07-04T05:08:39Z","datePublished":"2022-07-04T05:08:39Z","dateModified":"2024-06-11T14:21:17Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Close Below $1K Could Spark Larger Degree Downtrend\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-larger-degree-downtrend-1k\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-larger-degree-downtrend-1k\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Depositphotos_39681551_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/Depositphotos_39681551_s-2019.jpg?fit=999%2C693\"},\"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\":\"2022-07-04T05:08:39Z\",\"datePublished\":\"2022-07-04T05:08:39Z\",\"dateModified\":\"2024-06-11T14:21:17Z\"}<\/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\/Depositphotos_39681551_s-2019.jpg?fit=999%2C693","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/494795","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=494795"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/494795\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/461707"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=494795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=494795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=494795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}