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{"id":555061,"date":"2023-10-12T04:51:22","date_gmt":"2023-10-12T04:51:22","guid":{"rendered":"https:\/\/wncen.com\/?p=555061"},"modified":"2024-06-11T14:30:03","modified_gmt":"2024-06-11T14:30:03","slug":"ethereum-bulls-test-1550","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-bulls-test-1550\/","title":{"rendered":"Ethereum Bulls Face Crucial Test: Will $1,550 Withstand the Pressure?"},"content":{"rendered":"

Ethereum price is consolidating above the $1,550 support against the US dollar. ETH could decline heavily if the bulls fail to protect $1,550 and $1,540.<\/em><\/p>\n

\n
Ethereum is struggling to start a recovery wave from $1,550.<\/li>\n
The price is trading below $1,585 and the 100-hourly Simple Moving Average.<\/li>\n
There are two bearish trend lines forming with resistance near $1,565 and $1,590 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could start a recovery wave if the bulls defend the $1,550 support zone.<\/li>\n<\/ul>\n
Ethereum Price Faces Resistance<\/h2>\n
Ethereum remained in a bearish zone below the $1,600 resistance zone. ETH is still consolidating above the $1,550 support and showing bearish signs, like Bitcoin<\/a>.<\/p>\n
The recent low was formed near $1,542 before the price started a consolidation phase. The price spiked once above the 23.6% Fib retracement level of the key decline from the $1,665 swing high to the $1,542 low, but upsides were limited.<\/p>\n
Ethereum is now trading below $1,585 and the 100-hourly Simple Moving Average. There are also two bearish trend lines forming with resistance near $1,565 and $1,590 on the hourly chart of ETH\/USD.<\/p>\n
On the upside, the price might face resistance near the $1,565 level and the first trend line. The first major resistance is near the second trend line, $1,590, and the 100-hourly Simple Moving Average. The next resistance is near $1,600<\/a> or the 50% Fib retracement level of the key decline from the $1,665 swing high to the $1,542 low.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
A clear move above the $1,600 resistance might start a short-term recovery wave. In the stated case, Ether could rise and recover toward the $1,665 resistance. Any more gains might open the doors for a move toward $1,750.<\/p>\n
More Losses in ETH?<\/h2>\n
If Ethereum fails to clear the $1,600 resistance, it could continue to move down. Initial support on the downside is near the $1,550 level. The next key support is $1,540.<\/p>\n
A downside break below the $1,540 support might spark another strong decline. In the stated case, the price could drop toward the $1,420 level. Any more losses may perhaps send Ether toward the $1,350 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $1,540<\/p>\n
Major Resistance Level \u2013 $1,600<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is consolidating above the $1,550 support against the US dollar. ETH could decline heavily if the bulls fail to protect $1,550 and $1,540. Ethereum is struggling to start a recovery wave from $1,550. The price is trading below $1,585 and the 100-hourly Simple Moving Average. There are two bearish trend lines forming with resistance near $1,565 and $1,590 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a recovery wave if the bulls defend the $1,550 support zone. Ethereum Price Faces Resistance Ethereum remained in a bearish zone below the $1,600 resistance zone. ETH is still consolidating above the $1,550 support and showing bearish signs, like Bitcoin. The recent low was formed near $1,542 before the price started a consolidation phase. The price spiked once above the 23.6% Fib retracement level of the key decline from the $1,665 swing high to the $1,542 low, but upsides were limited. Ethereum is now trading below $1,585 and the 100-hourly Simple Moving Average. There are also two bearish trend lines forming with resistance near $1,565 and $1,590 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,565 level and the first trend line. The first major resistance is near the second trend line, $1,590, and the 100-hourly Simple Moving Average. The next resistance is near $1,600 or the 50% Fib retracement level of the key decline from the $1,665 swing high to the $1,542 low. Source: ETHUSD on TradingView.com A clear move above the $1,600 resistance might start a short-term recovery wave. In the stated case, Ether could rise and recover toward the $1,665 resistance. Any more gains might open the doors for a move toward $1,750. More Losses in ETH? If Ethereum fails to clear the $1,600 resistance, it could continue to move down. Initial support on the downside is near the $1,550 level. The next key support is $1,540. A downside break below the $1,540 support might spark another strong decline. In the stated case, the price could drop toward the $1,420 level. Any more losses may perhaps send Ether toward the $1,350 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,540 Major Resistance Level \u2013 $1,600<\/p>\n","protected":false},"author":67,"featured_media":459191,"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":[65296,1946,8686,78803],"class_list":["post-555061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Bulls Face Crucial Test: Will $1,550 Withstand the Pressure?<\/title>\n<meta name=\"description\" content=\"Ethereum price is consolidating above the $1,550 support 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 Bulls Face Crucial Test: Will $1,550 Withstand the Pressure?","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-bulls-test-1550\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-bulls-test-1550\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_333874940.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/03\/shutterstock_333874940.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":["ethbtc","ethereum","ethusd","ethusdt"],"dateCreated":"2023-10-12T04:51:22Z","datePublished":"2023-10-12T04:51:22Z","dateModified":"2024-06-11T14:30:03Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Bulls Face Crucial Test: Will $1,550 Withstand the Pressure?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-bulls-test-1550\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-bulls-test-1550\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_333874940.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/03\\\/shutterstock_333874940.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\":[\"ethbtc\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2023-10-12T04:51:22Z\",\"datePublished\":\"2023-10-12T04:51:22Z\",\"dateModified\":\"2024-06-11T14:30:03Z\"}<\/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\/2021\/03\/shutterstock_333874940.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/555061","targetHints":{"allow":["GET"]}}],"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=555061"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/555061\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/459191"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=555061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=555061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=555061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}