{"id":495508,"date":"2022-07-13T05:28:54","date_gmt":"2022-07-13T05:28:54","guid":{"rendered":"https:\/\/wncen.com\/?p=495508"},"modified":"2024-06-11T14:21:30","modified_gmt":"2024-06-11T14:21:30","slug":"ethereum-bears-are-back-1k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-bears-are-back-1k\/","title":{"rendered":"TA: Ethereum Bears Are Back, Why ETH Could Dive Below $1K"},"content":{"rendered":"
Ethereum extended losses and traded below $1,100 against the US Dollar. ETH could accelerate lower if there is a close below $1,000.<\/em><\/p>\n Ethereum remained in a bearish zone<\/a> below the $1,150 support zone. ETH extended decline below the $1,120 and $1,100 levels. It opened the doors for more losses and the price even moved below $1,080.<\/p>\n The price is now trading below $1,100 and the 100 hourly simple moving average<\/a>. It traded as low as $1,033 and the price is now consolidating losses. An immediate resistance on the upside is near the $1,060 level. The first major resistance is near the $1,090 zone.<\/p>\n The 23.6% Fib retracement level of the downward move from the $1,275 swing high to $1,033 low is also near the $1,090 level. Besides, there is a major bearish trend line forming with resistance near $1,115 on the hourly chart of ETH\/USD. The trend line is near the 100 hourly simple moving average.<\/p>\n <\/a><\/p>\n The next key barrier is near the $1,150 level or the 50% Fib retracement level of the downward move from the $1,275 swing high to $1,033 low, above which the price start a decent increase. In the stated case, the price could rise towards the $1,200 resistance zone.<\/p>\n If ethereum fails to rise above the $1,090 resistance, it could continue to move down. An initial support on the downside is near the $1,035 zone. The next major support is near the $1,000 zone.<\/p>\n A downside break below the $1,000 support may perhaps spark a sharp decline. In the stated case, the price could drop toward the $965 level. Any more losses below the $965 level may perhaps call for a move towards the $880 level 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 near the 40 level.<\/p>\n Major Support Level \u2013 $1,000<\/p>\n Major Resistance Level \u2013 $1,090<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum extended losses and traded below $1,100 against the US Dollar. ETH could accelerate lower if there is a close below $1,000. Ethereum started a fresh decline below the $1,120 and $1,100 levels. The price is now trading below $1,100 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,115 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to decline if there is a close below the $1,000 level. Ethereum Price Extends Losses Ethereum remained in a bearish zone below the $1,150 support zone. ETH extended decline below the $1,120 and $1,100 levels. It opened the doors for more losses and the price even moved below $1,080. The price is now trading below $1,100 and the 100 hourly simple moving average. It traded as low as $1,033 and the price is now consolidating losses. An immediate resistance on the upside is near the $1,060 level. The first major resistance is near the $1,090 zone. The 23.6% Fib retracement level of the downward move from the $1,275 swing high to $1,033 low is also near the $1,090 level. Besides, there is a major bearish trend line forming with resistance near $1,115 on the hourly chart of ETH\/USD. The trend line is near the 100 hourly simple moving average. Source: ETHUSD on TradingView.com The next key barrier is near the $1,150 level or the 50% Fib retracement level of the downward move from the $1,275 swing high to $1,033 low, above which the price start a decent increase. In the stated case, the price could rise towards the $1,200 resistance zone. More Losses in ETH? If ethereum fails to rise above the $1,090 resistance, it could continue to move down. An initial support on the downside is near the $1,035 zone. The next major support is near the $1,000 zone. A downside break below the $1,000 support may perhaps spark a sharp decline. In the stated case, the price could drop toward the $965 level. Any more losses below the $965 level may perhaps call for a move towards the $880 level 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 near the 40 level. Major Support Level \u2013 $1,000 Major Resistance Level \u2013 $1,090<\/p>\n","protected":false},"author":67,"featured_media":463756,"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-495508","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 Extends Losses<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n