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{"id":513783,"date":"2022-12-26T23:51:26","date_gmt":"2022-12-27T04:51:26","guid":{"rendered":"https:\/\/wncen.com\/?p=513783"},"modified":"2024-06-11T14:35:10","modified_gmt":"2024-06-11T14:35:10","slug":"ethereum-price-downtrend-1250","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-downtrend-1250\/","title":{"rendered":"Ethereum Price Downtrend Intact for this Reason, Market Muted"},"content":{"rendered":"

Ethereum is still consolidating below the $1,230 resistance against the US Dollar. ETH could react to the downside if it stays below $1,230 for a long time.<\/em><\/p>\n

\n
Ethereum is attempting an upside break above the $1,230 resistance zone.<\/li>\n
The price is now trading above $1,200 and the 100 hourly simple moving average.<\/li>\n
There was a break above a connecting bearish trend line with resistance near $1,218 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could gain bullish momentum if there is a close above $1,230 and $1,250.<\/li>\n<\/ul>\n
Ethereum Price Faces Key Barrier<\/h2>\n
Ethereum price started a recovery wave above the $1,180 and $1,190 levels. ETH even managed to climb above the $1,200 resistance zone and the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n
There was a break above a connecting bearish trend line with resistance near $1,218 on the hourly chart of ETH\/USD. The bulls even attempted to clear the key $1,230 resistance zone, but they struggled. It seems like there are already many attempts to clear the $1,230 and $1,250 resistance levels.<\/p>\n
Ether price is now trading above $1,200 and the 100 hourly simple moving average<\/a>. It is trading near the 23.6% Fib retracement level of the recent increase from the $1,193 swing low to $1,230 high.<\/p>\n
An immediate key barrier is near the $1,230 level. The next major resistance is near the $1,250 level. A close above the $1,250 resistance could start a steady increase. In the stated case, the price may perhaps rise towards the $1,300 resistance.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
The next major resistance could be $1,350, above which the price could accelerate higher towards $1,400. Any more gains might send the price towards the $1,500 resistance zone.<\/p>\n
ETH Could Trim Gains<\/h2>\n
If ethereum fails to climb above the $1,230 resistance, it could start another drop. An initial support on the downside is near the $1,216 level and the 100 hourly simple moving average.<\/p>\n
The next major support is near the $1,210 level. The first major support is near the $1,200 level or the 61.8% Fib retracement level of the recent increase from the $1,193 swing low to $1,230 high. A downside break below $1,200 might spark a move towards the $1,180 support. Any more losses could lead the price towards the $1,150 zone.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bullish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $1,200<\/p>\n
Major Resistance Level \u2013 $1,230<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum is still consolidating below the $1,230 resistance against the US Dollar. ETH could react to the downside if it stays below $1,230 for a long time. Ethereum is attempting an upside break above the $1,230 resistance zone. The price is now trading above $1,200 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $1,218 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could gain bullish momentum if there is a close above $1,230 and $1,250. Ethereum Price Faces Key Barrier Ethereum price started a recovery wave above the $1,180 and $1,190 levels. ETH even managed to climb above the $1,200 resistance zone and the 100 hourly simple moving average, similar to bitcoin. There was a break above a connecting bearish trend line with resistance near $1,218 on the hourly chart of ETH\/USD. The bulls even attempted to clear the key $1,230 resistance zone, but they struggled. It seems like there are already many attempts to clear the $1,230 and $1,250 resistance levels. Ether price is now trading above $1,200 and the 100 hourly simple moving average. It is trading near the 23.6% Fib retracement level of the recent increase from the $1,193 swing low to $1,230 high. An immediate key barrier is near the $1,230 level. The next major resistance is near the $1,250 level. A close above the $1,250 resistance could start a steady increase. In the stated case, the price may perhaps rise towards the $1,300 resistance. Source: ETHUSD on TradingView.com The next major resistance could be $1,350, above which the price could accelerate higher towards $1,400. Any more gains might send the price towards the $1,500 resistance zone. ETH Could Trim Gains If ethereum fails to climb above the $1,230 resistance, it could start another drop. An initial support on the downside is near the $1,216 level and the 100 hourly simple moving average. The next major support is near the $1,210 level. The first major support is near the $1,200 level or the 61.8% Fib retracement level of the recent increase from the $1,193 swing low to $1,230 high. A downside break below $1,200 might spark a move towards the $1,180 support. Any more losses could lead the price towards the $1,150 zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $1,200 Major Resistance Level \u2013 $1,230<\/p>\n","protected":false},"author":67,"featured_media":510424,"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":[8323,1946,8686,78803],"class_list":["post-513783","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Downtrend Intact for this Reason, Market Muted<\/title>\n<meta name=\"description\" content=\"Ethereum is still consolidating below the $1,230 resistance 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":"Ethereum Price Downtrend Intact for this Reason, Market Muted","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-price-downtrend-1250\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-price-downtrend-1250\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/iStock-1383710952.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/iStock-1383710952.jpg?fit=1254%2C836"},"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":["eth","ethereum","ethusd","ethusdt"],"dateCreated":"2022-12-27T04:51:26Z","datePublished":"2022-12-27T04:51:26Z","dateModified":"2024-06-11T14:35:10Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Downtrend Intact for this Reason, Market Muted\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-price-downtrend-1250\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-price-downtrend-1250\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/iStock-1383710952.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/iStock-1383710952.jpg?fit=1254%2C836\"},\"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\":[\"eth\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2022-12-27T04:51:26Z\",\"datePublished\":\"2022-12-27T04:51:26Z\",\"dateModified\":\"2024-06-11T14:35:10Z\"}<\/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\/2022\/11\/iStock-1383710952.jpg?fit=1254%2C836","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/513783"}],"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=513783"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/513783\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/510424"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=513783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=513783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=513783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}