{"id":519563,"date":"2023-02-14T04:07:29","date_gmt":"2023-02-14T04:07:29","guid":{"rendered":"https:\/\/wncen.com\/?p=519563"},"modified":"2024-06-11T14:32:28","modified_gmt":"2024-06-11T14:32:28","slug":"ethereum-price-is-dropping-but-its-too-early-to-say-bulls-have-given-up","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-is-dropping-but-its-too-early-to-say-bulls-have-given-up\/","title":{"rendered":"Ethereum Price is Dropping, But It&#8217;s Too Early to Say Bulls Have Given Up"},"content":{"rendered":"<p><em>Ethereum price extended its decline below the $1,520 level against the US Dollar. ETH must clear the $1,540 resistance zone to start a decent increase.<\/em><\/p>\n<ul>\n<li>Ethereum remained in a bearish zone below $1,550 and $1,540.<\/li>\n<li>The price is now trading below $1,540 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $1,515 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could continue to move down if it stays below the $1,540 resistance.<\/li>\n<\/ul>\n<h2>Ethereum Price Faces Resistance<\/h2>\n<p>Ethereum price remained in a bearish zone below the $1,600, similar to <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-consolidates-below-22k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a>. ETH traded below the $1,550 and $1,540 support levels. It even spiked below the $1,500 level.<\/p>\n<p>A new weekly low is formed near $1,463 and the price is now consolidating losses. Ether price is struggling below $1,540 and the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-vulnerable-1500-2\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. There is also a major bearish trend line forming with resistance near $1,515 on the hourly chart of ETH\/USD.<\/p>\n<p>Recently, there was a minor upside correction above the $1,500 level. The price tested the 50% Fib retracement level of the recent decline from the $1,548 swing high to $1,463 low.<\/p>\n<p>The next major resistance is near the $1,515 level and the trend line, above which the price might test the 100 hourly SMA. The trend line is near the 61.8% Fib retracement level of the recent decline from the $1,548 swing high to $1,463 low. The main resistance is still near the $1,540 zone.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-9.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-519564\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-9.png?resize=1834%2C845\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-9.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-9.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-9.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-9.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-9.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-9.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/02\/Ethereum-9.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 $1,540 resistance zone could start a steady increase. In the stated case, the price may perhaps rise towards the $1,600 resistance.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If ethereum fails to clear the $1,515 resistance or the trend line, it could continue to move down. An initial support on the downside is near the $1,475 level.<\/p>\n<p>The next major support is near the $1,460 zone. If there is a break below $1,460, the price might continue to drop and move towards the $1,400 support. Any more losses might call for a test of the $1,320 support zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now losing 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 $1,460<\/p>\n<p>Major Resistance Level \u2013 $1,540<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price extended its decline below the $1,520 level against the US Dollar. ETH must clear the $1,540 resistance zone to start a decent increase. Ethereum remained in a bearish zone below $1,550 and $1,540. The price is now trading below $1,540 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,515 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to move down if it stays below the $1,540 resistance. Ethereum Price Faces Resistance Ethereum price remained in a bearish zone below the $1,600, similar to bitcoin. ETH traded below the $1,550 and $1,540 support levels. It even spiked below the $1,500 level. A new weekly low is formed near $1,463 and the price is now consolidating losses. Ether price is struggling below $1,540 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $1,515 on the hourly chart of ETH\/USD. Recently, there was a minor upside correction above the $1,500 level. The price tested the 50% Fib retracement level of the recent decline from the $1,548 swing high to $1,463 low. The next major resistance is near the $1,515 level and the trend line, above which the price might test the 100 hourly SMA. The trend line is near the 61.8% Fib retracement level of the recent decline from the $1,548 swing high to $1,463 low. The main resistance is still near the $1,540 zone. Source: ETHUSD on TradingView.com An upside break above the $1,540 resistance zone could start a steady increase. In the stated case, the price may perhaps rise towards the $1,600 resistance. More Losses in ETH? If ethereum fails to clear the $1,515 resistance or the trend line, it could continue to move down. An initial support on the downside is near the $1,475 level. The next major support is near the $1,460 zone. If there is a break below $1,460, the price might continue to drop and move towards the $1,400 support. Any more losses might call for a test of the $1,320 support zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,460 Major Resistance Level \u2013 $1,540<\/p>\n","protected":false},"author":67,"featured_media":457917,"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-519563","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 is Dropping, But It&#039;s Too Early to Say Bulls Have Given Up<\/title>\n<meta name=\"description\" content=\"Ethereum price extended its decline below the $1,520 level against the US Dollar. 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