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{"id":464164,"date":"2021-05-20T05:08:11","date_gmt":"2021-05-20T05:08:11","guid":{"rendered":"https:\/\/uniquehot.com\/?p=464164"},"modified":"2024-06-11T13:55:52","modified_gmt":"2024-06-11T13:55:52","slug":"ethereum-down-40-pc-2000","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-down-40-pc-2000\/","title":{"rendered":"TA: Ethereum Down 40% In A Week, Here\u2019s Why ETH Could Recover"},"content":{"rendered":"

Ethereum declined heavily and it even tested the $2,000 support zone against the US Dollar. ETH price is attempting a recovery and it must clear $2,800 for a steady rise.<\/em><\/p>\n

\n
Ethereum is down over 40% in a week and it even tested the $2,000 support zone.<\/li>\n
The price is now well below the $3,000 level and the 100 hourly simple moving average.<\/li>\n
There is a major contracting triangle forming with resistance near $2,650 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair must clear $2,650 and $2,800 to move back into a positive zone in the near term.<\/li>\n<\/ul>\n
Ethereum Price Shows Recovery Signs<\/h2>\n
Ethereum remained in a major downtrend from well above the $3,000 pivot level. ETH declined over 40% in a few days and it even broke the $2,500 support zone, similar to bitcoin<\/a>.<\/p>\n
The bears were able to clear the $2,200 support zone. There was also a spike below $2,000 and the price formed a swing low near $1,850. Ether is now recovering and it is trading above the $2,200 level. However, it is well below the $3,000 level and the 100 hourly simple moving average<\/a>.<\/p>\n
The recent swing low was formed near $2,149. An immediate resistance is near the $2,500 level. It is near the 50% Fib retracement level of the recent drop from the $2,847 swing high to $2,149 low.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
There is also a major contracting triangle forming with resistance near $2,650 on the hourly chart of ETH\/USD. The triangle resistance is close to the 61.8% Fib retracement level of the recent drop from the $2,847 swing high to $2,149 low. A successful break above the $2,650 and $2,800 levels could open the doors for a steady recovery in the coming sessions. The next major resistance is near the $3,125 level.<\/p>\n
Fresh Decline in ETH?<\/h2>\n
If Ethereum fails to continue higher above the $2,650 and $2,800 resistance levels, it could start another decline. An initial support on the downside is near the $2,300 level and the triangle trend line.<\/p>\n
The first key support is near the $2,200 level. The main support is now forming near the $2,000 level. If there is a downside break below the $2,000 zone, the price could decline towards the $1,600 support.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly moving into the bullish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now close to the 40 level.<\/p>\n
Major Support Level \u2013 $2,000<\/p>\n
Major Resistance Level \u2013 $2,800<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum declined heavily and it even tested the $2,000 support zone against the US Dollar. ETH price is attempting a recovery and it must clear $2,800 for a steady rise. Ethereum is down over 40% in a week and it even tested the $2,000 support zone. The price is now well below the $3,000 level and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $2,650 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must clear $2,650 and $2,800 to move back into a positive zone in the near term. Ethereum Price Shows Recovery Signs Ethereum remained in a major downtrend from well above the $3,000 pivot level. ETH declined over 40% in a few days and it even broke the $2,500 support zone, similar to bitcoin. The bears were able to clear the $2,200 support zone. There was also a spike below $2,000 and the price formed a swing low near $1,850. Ether is now recovering and it is trading above the $2,200 level. However, it is well below the $3,000 level and the 100 hourly simple moving average. The recent swing low was formed near $2,149. An immediate resistance is near the $2,500 level. It is near the 50% Fib retracement level of the recent drop from the $2,847 swing high to $2,149 low. Source: ETHUSD on TradingView.com There is also a major contracting triangle forming with resistance near $2,650 on the hourly chart of ETH\/USD. The triangle resistance is close to the 61.8% Fib retracement level of the recent drop from the $2,847 swing high to $2,149 low. A successful break above the $2,650 and $2,800 levels could open the doors for a steady recovery in the coming sessions. The next major resistance is near the $3,125 level. Fresh Decline in ETH? If Ethereum fails to continue higher above the $2,650 and $2,800 resistance levels, it could start another decline. An initial support on the downside is near the $2,300 level and the triangle trend line. The first key support is near the $2,200 level. The main support is now forming near the $2,000 level. If there is a downside break below the $2,000 zone, the price could decline towards the $1,600 support. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving into the bullish zone. Hourly RSI – The RSI for ETH\/USD is now close to the 40 level. Major Support Level \u2013 $2,000 Major Resistance Level \u2013 $2,800<\/p>\n","protected":false},"author":67,"featured_media":464166,"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":[1946,8686,78803],"class_list":["post-464164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nTA: Ethereum Down 40% In A Week, Here\u2019s Why ETH Could Recover<\/title>\n<meta name=\"description\" content=\"Ethereum declined heavily and it even tested the $2,000 support zone 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:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Ethereum Down 40% In A Week, Here\u2019s Why ETH Could Recover","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-down-40-pc-2000\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-down-40-pc-2000\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_773873392-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_773873392-1.jpg?fit=1000%2C582"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ethereum","ethusd","ethusdt"],"dateCreated":"2021-05-20T05:08:11Z","datePublished":"2021-05-20T05:08:11Z","dateModified":"2024-06-11T13:55:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Down 40% In A Week, Here\\u2019s Why ETH Could Recover\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-down-40-pc-2000\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-down-40-pc-2000\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_773873392-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_773873392-1.jpg?fit=1000%2C582\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2021-05-20T05:08:11Z\",\"datePublished\":\"2021-05-20T05:08:11Z\",\"dateModified\":\"2024-06-11T13:55:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_773873392-1.jpg?fit=1000%2C582","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/464164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=464164"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/464164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/464166"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=464164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=464164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=464164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}