{"id":467175,"date":"2021-07-09T05:28:56","date_gmt":"2021-07-09T05:28:56","guid":{"rendered":"https:\/\/uniquehot.com\/?p=467175"},"modified":"2024-06-11T13:56:56","modified_gmt":"2024-06-11T13:56:56","slug":"ethereum-turns-red-2k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-turns-red-2k\/","title":{"rendered":"TA: Ethereum Turns Red, Why Recovery Could Be Attractive To Sellers"},"content":{"rendered":"
Ethereum extended its decline below the $2,200 support zone against the US Dollar. ETH price is showing bearish signs and it might dive further towards $2,000.<\/em><\/p>\n There was no major recovery in ethereum above the $2,300 level. ETH remained in a bearish zone and it broke the main $2,200 support zone to move further into a bearish zone, similar to bitcoin<\/a>.<\/p>\n The price even declined below the $2,150 support and it settled below the 100 hourly simple moving average<\/a>. There was a spike below $2,100 and the price tested $2,050. A low is formed near $2,049 and the price is now correcting losses.<\/p>\n It climbed above the $2,100 resistance. There was a break above the 23.6% Fib retracement level of the recent decline from the $2,406 swing high to $2,049 low. It is now testing a connecting bearish trend line with resistance near $2,150 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n An immediate support is near the $2,100 level. The first key support is near the $2,050 level. The main support is now near the $2,000 zone. If there is a downside break below the $2,000 support zone, there is a risk of a sharp decline. The next major support is near the $1,850 level.<\/p>\n If Ethereum stays above the $2,050 support, it could correct higher in the near term. An initial resistance is near the $2,150 level.<\/p>\n The first key resistance could be $2,180. The next major resistance is near the $2,200 level and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $2,200 on the same chart. Any more gains could lead the price towards the $2,300 level in the near term.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is currently near the 50 level.<\/p>\n Major Support Level \u2013 $2,050<\/p>\n Major Resistance Level \u2013 $2,200<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum extended its decline below the $2,200 support zone against the US Dollar. ETH price is showing bearish signs and it might dive further towards $2,000. Ethereum is down over 10% and it even spiked below the $2,100 support zone. The price is now trading below the $2,200 support and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,200 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct higher, but sellers are likely to remain active near the $2,200 zone. Ethereum Price Extends Losses There was no major recovery in ethereum above the $2,300 level. ETH remained in a bearish zone and it broke the main $2,200 support zone to move further into a bearish zone, similar to bitcoin. The price even declined below the $2,150 support and it settled below the 100 hourly simple moving average. There was a spike below $2,100 and the price tested $2,050. A low is formed near $2,049 and the price is now correcting losses. It climbed above the $2,100 resistance. There was a break above the 23.6% Fib retracement level of the recent decline from the $2,406 swing high to $2,049 low. It is now testing a connecting bearish trend line with resistance near $2,150 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com An immediate support is near the $2,100 level. The first key support is near the $2,050 level. The main support is now near the $2,000 zone. If there is a downside break below the $2,000 support zone, there is a risk of a sharp decline. The next major support is near the $1,850 level. Upsides Limited in ETH? If Ethereum stays above the $2,050 support, it could correct higher in the near term. An initial resistance is near the $2,150 level. The first key resistance could be $2,180. The next major resistance is near the $2,200 level and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $2,200 on the same chart. Any more gains could lead the price towards the $2,300 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is currently near the 50 level. Major Support Level \u2013 $2,050 Major Resistance Level \u2013 $2,200<\/p>\n","protected":false},"author":67,"featured_media":459301,"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-467175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Extends Losses<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Upsides Limited in ETH?<\/h2>\n