{"id":467357,"date":"2021-07-13T05:08:44","date_gmt":"2021-07-13T05:08:44","guid":{"rendered":"https:\/\/uniquehot.com\/?p=467357"},"modified":"2024-06-11T13:56:59","modified_gmt":"2024-06-11T13:56:59","slug":"ethereum-could-nosedive-below-2k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-could-nosedive-below-2k\/","title":{"rendered":"TA: Why Ethereum (ETH) Could Nosedive Below $2K, Bears In Control"},"content":{"rendered":"
Ethereum is down 5% and it is struggling to stay above $2,000 against the US Dollar. ETH price could decline sharply if there is a break and close below $2,000.<\/em><\/p>\n There was a fresh decline in ethereum from the $2,175 resistance zone, similar to bitcoin<\/a>. ETH broke many supports near $2,100 and the 100 hourly simple moving average to move into a bearish zone.<\/p>\n There was also a break below a key contracting triangle with support near $2,110 on the hourly chart of ETH\/USD. The pair traded below the $2,050 support and it tested the $2,000 support<\/a>. A low is formed near $2,009 and the price is now consolidating losses.<\/p>\n An immediate resistance on the upside is near the $2,050 zone. It is near the 23.6% Fib retracement level of the recent dive from the $2,175 high to $2,009 low.<\/p>\n <\/a><\/p>\n The first key resistance is near the $2,090 and $2,100 levels. The 50% Fib retracement level of the recent dive from the $2,175 high to $2,009 low is also near $2,090. A close above $2,100 might start a decent recovery wave in the near term. The next major resistance is near the $2,175 level.<\/p>\n If Ethereum fails to recover above $2,050 or $2,100, it could continue to move down. An initial support on the downside is near the $2,010 level.<\/p>\n The first major support is near the $2,000 level. If ether bulls fail to defend the $2,010 and $2,000 support levels, there are chances of a sharp decline. In the stated case, ether bears might aim a test of the $1,850 support level. An intermediate support could be near $1,920.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is well below the 50 level.<\/p>\n Major Support Level \u2013 $2,000<\/p>\n Major Resistance Level \u2013 $2,100<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is down 5% and it is struggling to stay above $2,000 against the US Dollar. ETH price could decline sharply if there is a break and close below $2,000. Ethereum is showing bearish signs below the $2,050 and $2,100 levels. The price is now trading well below the $2,100 resistance and the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $2,110 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above the $2,000 support to avoid a major decline in the near term. Ethereum Price Remains At Risk There was a fresh decline in ethereum from the $2,175 resistance zone, similar to bitcoin. ETH broke many supports near $2,100 and the 100 hourly simple moving average to move into a bearish zone. There was also a break below a key contracting triangle with support near $2,110 on the hourly chart of ETH\/USD. The pair traded below the $2,050 support and it tested the $2,000 support. A low is formed near $2,009 and the price is now consolidating losses. An immediate resistance on the upside is near the $2,050 zone. It is near the 23.6% Fib retracement level of the recent dive from the $2,175 high to $2,009 low. Source: ETHUSD on TradingView.com The first key resistance is near the $2,090 and $2,100 levels. The 50% Fib retracement level of the recent dive from the $2,175 high to $2,009 low is also near $2,090. A close above $2,100 might start a decent recovery wave in the near term. The next major resistance is near the $2,175 level. More Losses in ETH? If Ethereum fails to recover above $2,050 or $2,100, it could continue to move down. An initial support on the downside is near the $2,010 level. The first major support is near the $2,000 level. If ether bulls fail to defend the $2,010 and $2,000 support levels, there are chances of a sharp decline. In the stated case, ether bears might aim a test of the $1,850 support level. An intermediate support could be near $1,920. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is well below the 50 level. Major Support Level \u2013 $2,000 Major Resistance Level \u2013 $2,100<\/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-467357","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 Remains At Risk<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n