{"id":645835,"date":"2024-10-02T03:28:28","date_gmt":"2024-10-02T03:28:28","guid":{"rendered":"https:\/\/wncen.com\/?p=645835"},"modified":"2024-10-02T02:58:32","modified_gmt":"2024-10-02T02:58:32","slug":"ethereum-price-losses-2420","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-losses-2420\/","title":{"rendered":"Ethereum Price Extends Losses: Is The Downtrend Set to Continue?"},"content":{"rendered":"<p><em>Ethereum price is gaining pace below the $2,550 resistance. ETH is now trading above $2,500, but it might struggle to recover above $2,550.<\/em><\/p>\n<ul>\n<li>Ethereum started a downside correction below the $2,550 zone.<\/li>\n<li>The price is trading below $2,520 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a short-term consolidation pattern forming with resistance at $2,500 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair must stay above the $2,420 support to start a fresh increase in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Dives 5%<\/h2>\n<p>Ethereum price remained in a bearish zone and extended losses below the $2,600 level. ETH traded below the $2,550 support to enter a bearish zone like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-falls-60k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>. There was also a move below the $2,500 level.<\/p>\n<p>A low was formed near $2,413 and the price is now consolidating <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-battles-2550\/\" target=\"_blank\" rel=\"noopener \">losses<\/a>. There was a minor increase above the $2,450 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $2,655 swing high to the $2,413 low.<\/p>\n<p>Ethereum price is now trading below $2,520 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,520 level. There is also a short-term consolidation pattern forming with resistance at $2,500 on the hourly chart of ETH\/USD.<\/p>\n<p>The first major resistance is near the $2,535 level or the 50% Fib retracement level of the downward move from the $2,655 swing high to the $2,413 low. The next key resistance is near $2,550.<\/p>\n<figure id=\"attachment_645836\" aria-describedby=\"caption-attachment-645836\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum_5fb4ba.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-645836 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum_5fb4ba.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum_5fb4ba.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum_5fb4ba.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum_5fb4ba.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum_5fb4ba.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum_5fb4ba.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum_5fb4ba.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum_5fb4ba.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-645836\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>An upside break above the $2,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,620 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,665.<\/p>\n<h2>More Losses In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,520 resistance, it could continue to move down. Initial support on the downside is near the $2,440 level. The first major support sits near the $2,420 zone.<\/p>\n<p>A clear move below the $2,420 support might push the price toward $2,350. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,120.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n<p>Major Support Level \u2013 $2,420<\/p>\n<p>Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is gaining pace below the $2,550 resistance. ETH is now trading above $2,500, but it might struggle to recover above $2,550. Ethereum started a downside correction below the $2,550 zone. The price is trading below $2,520 and the 100-hourly Simple Moving Average. There is a short-term consolidation pattern forming with resistance at $2,500 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above the $2,420 support to start a fresh increase in the near term. Ethereum Price Dives 5% Ethereum price remained in a bearish zone and extended losses below the $2,600 level. ETH traded below the $2,550 support to enter a bearish zone like Bitcoin. There was also a move below the $2,500 level. A low was formed near $2,413 and the price is now consolidating losses. There was a minor increase above the $2,450 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $2,655 swing high to the $2,413 low. Ethereum price is now trading below $2,520 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,520 level. There is also a short-term consolidation pattern forming with resistance at $2,500 on the hourly chart of ETH\/USD. The first major resistance is near the $2,535 level or the 50% Fib retracement level of the downward move from the $2,655 swing high to the $2,413 low. The next key resistance is near $2,550. An upside break above the $2,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,620 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,665. More Losses In ETH? If Ethereum fails to clear the $2,520 resistance, it could continue to move down. Initial support on the downside is near the $2,440 level. The first major support sits near the $2,420 zone. A clear move below the $2,420 support might push the price toward $2,350. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,120. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 zone. Major Support Level \u2013 $2,420 Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"author":67,"featured_media":645837,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83362],"tags":[65296,1946,8686,78803],"class_list":["post-645835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Extends Losses: Is The Downtrend Set to Continue?<\/title>\n<meta name=\"description\" content=\"Ethereum price is gaining pace below the $2,550 resistance. 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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 Extends Losses: Is The Downtrend Set to Continue?","url":"http:\/\/wncen.com\/analysis\/eth\/ethereum-price-losses-2420\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/analysis\/eth\/ethereum-price-losses-2420\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum-Losses.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/10\/Ethereum-Losses.jpg?fit=1792%2C1024"},"articleSection":"ETH","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":"2024-10-02T03:28:28Z","datePublished":"2024-10-02T03:28:28Z","dateModified":"2024-10-02T03:28:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Extends Losses: Is The Downtrend Set to Continue?\",\"url\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/eth\\\/ethereum-price-losses-2420\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/eth\\\/ethereum-price-losses-2420\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Ethereum-Losses.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/Ethereum-Losses.jpg?fit=1792%2C1024\"},\"articleSection\":\"ETH\",\"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\":\"2024-10-02T03:28:28Z\",\"datePublished\":\"2024-10-02T03:28:28Z\",\"dateModified\":\"2024-10-02T03:28:28Z\"}<\/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\/2024\/10\/Ethereum-Losses.jpg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/645835"}],"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=645835"}],"version-history":[{"count":1,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/645835\/revisions"}],"predecessor-version":[{"id":645838,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/645835\/revisions\/645838"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/645837"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=645835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=645835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=645835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}