{"id":517381,"date":"2023-01-24T23:46:52","date_gmt":"2023-01-25T04:46:52","guid":{"rendered":"https:\/\/wncen.com\/?p=517381"},"modified":"2024-06-11T14:35:15","modified_gmt":"2024-06-11T14:35:15","slug":"ethereum-price-drops-1500","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-drops-1500\/","title":{"rendered":"Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support"},"content":{"rendered":"<p><em>Ethereum started a downside correction below $1,600 against the US Dollar. ETH is down over 6% and remains at a risk of a drop below the $1,480 support.<\/em><\/p>\n<ul>\n<li>Ethereum is showing a few bearish signs below the $1,600 and $1,580 levels.<\/li>\n<li>The price is now trading below $1,600 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $1,620 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could recover if it stays above the $1,500 and $1,480 support levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Trims Gains<\/h2>\n<p>Ethereum price failed to clear the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-bullish-1650\/\" target=\"_blank\" rel=\"noopener \">$1,650 resistance zone<\/a>. ETH corrected lower below the $1,620 and $1,600 level, similar to <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-correction-22k\/\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a>. The decline gained pace below the 50% Fib retracement level of the upward move from the $1,480 swing low to $1,680 high.<\/p>\n<p>The price declined over 6% in a day and traded below the $1,550 support zone. A low is formed near $1,518 and the price is now consolidating losses.<\/p>\n<p>Ether price is now trading below $1,600 and the 100 hourly simple moving average. An immediate resistance is near the $1,555 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,680 swing high to $1,518 low.<\/p>\n<p>The next major resistance is near the $1,660 level. It is close to the 50% Fib retracement level of the recent decline from the $1,680 swing high to $1,518 low. There is also a key bearish trend line forming with resistance near $1,620 on the hourly chart of ETH\/USD.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum-15.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-517382\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum-15.png?resize=1834%2C845\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum-15.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum-15.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum-15.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum-15.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum-15.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum-15.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum-15.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>An upside break above the $1,620 resistance zone could start a fresh rally. In the stated case, the price may perhaps rise towards the $1,680 resistance.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If ethereum fails to clear the $1,600 resistance, it could continue to move down. An initial support on the downside is near the $1,520 level or the recent low.<\/p>\n<p>The next major support is near the $1,480 level. If there is a break below $1,480, the price might drop towards the $1,420 support. Any more losses might call for a test of the $1,350 zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,480<\/p>\n<p>Major Resistance Level \u2013 $1,600<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum started a downside correction below $1,600 against the US Dollar. ETH is down over 6% and remains at a risk of a drop below the $1,480 support. Ethereum is showing a few bearish signs below the $1,600 and $1,580 levels. The price is now trading below $1,600 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,620 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could recover if it stays above the $1,500 and $1,480 support levels. Ethereum Price Trims Gains Ethereum price failed to clear the $1,650 resistance zone. ETH corrected lower below the $1,620 and $1,600 level, similar to bitcoin. The decline gained pace below the 50% Fib retracement level of the upward move from the $1,480 swing low to $1,680 high. The price declined over 6% in a day and traded below the $1,550 support zone. A low is formed near $1,518 and the price is now consolidating losses. Ether price is now trading below $1,600 and the 100 hourly simple moving average. An immediate resistance is near the $1,555 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,680 swing high to $1,518 low. The next major resistance is near the $1,660 level. It is close to the 50% Fib retracement level of the recent decline from the $1,680 swing high to $1,518 low. There is also a key bearish trend line forming with resistance near $1,620 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com An upside break above the $1,620 resistance zone could start a fresh rally. In the stated case, the price may perhaps rise towards the $1,680 resistance. More Losses in ETH? If ethereum fails to clear the $1,600 resistance, it could continue to move down. An initial support on the downside is near the $1,520 level or the recent low. The next major support is near the $1,480 level. If there is a break below $1,480, the price might drop towards the $1,420 support. Any more losses might call for a test of the $1,350 zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,480 Major Resistance Level \u2013 $1,600<\/p>\n","protected":false},"author":67,"featured_media":506045,"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-517381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support<\/title>\n<meta name=\"description\" content=\"Ethereum started a downside correction below $1,600 against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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 Drops 6% and Signals Risk of Trend Change Below This Support","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-price-drops-1500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-price-drops-1500\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Depositphotos_179456522_s-2019.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/10\/Depositphotos_179456522_s-2019.jpg?fit=1000%2C667"},"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":"2023-01-25T04:46:52Z","datePublished":"2023-01-25T04:46:52Z","dateModified":"2024-06-11T14:35:15Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Drops 6% and Signals Risk of Trend Change Below This Support\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-price-drops-1500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-price-drops-1500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Depositphotos_179456522_s-2019.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/10\\\/Depositphotos_179456522_s-2019.jpg?fit=1000%2C667\"},\"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\":\"2023-01-25T04:46:52Z\",\"datePublished\":\"2023-01-25T04:46:52Z\",\"dateModified\":\"2024-06-11T14:35:15Z\"}<\/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\/10\/Depositphotos_179456522_s-2019.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/517381"}],"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=517381"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/517381\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/506045"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=517381"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=517381"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=517381"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}