{"id":550863,"date":"2023-09-12T04:43:43","date_gmt":"2023-09-12T04:43:43","guid":{"rendered":"https:\/\/wncen.com\/?p=550863"},"modified":"2024-06-11T08:10:29","modified_gmt":"2024-06-11T08:10:29","slug":"ethereum-price-capped-1620","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-capped-1620\/","title":{"rendered":"Ethereum Price Just Saw Key Technical Correction But Upsides Remain Capped"},"content":{"rendered":"
Ethereum price extended its decline below the $1,550 support against the US Dollar. ETH is recovering losses, but upsides might be capped near $1,620.<\/em><\/p>\n
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Ethereum gained bearish momentum below $1,580 and $1,550.<\/li>\n
The price is trading below $1,600 and the 100-hourly Simple Moving Average.<\/li>\n
There is a key bearish trend line forming with resistance near $1,605 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could correct higher but the bears might remain active near $1,600 and $1,620.<\/li>\n<\/ul>\n
Ethereum Price Breaks Down<\/h2>\n
Ethereum\u2019s price failed to settle above the $1,620 pivot level. ETH started a fresh decline and settled below the $1,600 level, like Bitcoin<\/a>.<\/p>\n