{"id":467441,"date":"2021-07-14T05:28:53","date_gmt":"2021-07-14T05:28:53","guid":{"rendered":"https:\/\/uniquehot.com\/?p=467441"},"modified":"2024-06-11T13:57:02","modified_gmt":"2024-06-11T13:57:02","slug":"ethereum-tumbles-2k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-tumbles-2k\/","title":{"rendered":"TA: Ethereum (ETH) Tumbles, Why Key Indicators Suggest More Pain"},"content":{"rendered":"
Ethereum declined below the main $2,000 support zone against the US Dollar. ETH price is showing bearish signs and it remains at a risk of more downsides below $1,800.<\/em><\/p>\n There was no major recovery in ethereum above the $2,100 level, similar to bitcoin<\/a>. As a result, ETH saw another decline and it broke the main $2,000 support zone.<\/p>\n The price gained pace below the $1,950 support and it settled well below the 100 hourly simple moving average<\/a>. A low is formed near $1,864 and the price is now consolidating losses. An initial resistance on the upside is near the $1,910 level.<\/p>\n The 23.6% Fib retracement level of the recent drop from the $2,046 high to $1,864 low is also near $1,910. Besides, there is a key bearish trend line forming with resistance near $1,940 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n The trend line resistance is close to the 50% Fib retracement level of the recent drop from the $2,046 high to $1,864 low. The main resistance now sits near the $2,000 level. A close above the $2,000 zone could set the pace for a larger increase in the near term. The next major resistance is near the $2,075 level.<\/p>\n If Ethereum fails to recover above $1,910 and $1,950, it could continue to move down. An initial support on the downside is near the $1,850 level.<\/p>\n A downside break below the $1,850 support could spark more losses. The first major support is near the $1,800 level. If ether fails to stay above the $1,800 support, it could decline towards the $1,750 swing support. Any more losses may possibly lead the price towards the $1,680 support zone in the coming sessions.<\/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 now well below the 50 level.<\/p>\n Major Support Level \u2013 $1,850<\/p>\n Major Resistance Level \u2013 $2,000<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum declined below the main $2,000 support zone against the US Dollar. ETH price is showing bearish signs and it remains at a risk of more downsides below $1,800. Ethereum extended its decline below the $2,000 and $1,920 levels. The price is now trading well below the $2,000 resistance and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,940 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to continue lower below the $1,850 and $1,820 support levels. Ethereum Price Dives 8% There was no major recovery in ethereum above the $2,100 level, similar to bitcoin. As a result, ETH saw another decline and it broke the main $2,000 support zone. The price gained pace below the $1,950 support and it settled well below the 100 hourly simple moving average. A low is formed near $1,864 and the price is now consolidating losses. An initial resistance on the upside is near the $1,910 level. The 23.6% Fib retracement level of the recent drop from the $2,046 high to $1,864 low is also near $1,910. Besides, there is a key bearish trend line forming with resistance near $1,940 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com The trend line resistance is close to the 50% Fib retracement level of the recent drop from the $2,046 high to $1,864 low. The main resistance now sits near the $2,000 level. A close above the $2,000 zone could set the pace for a larger increase in the near term. The next major resistance is near the $2,075 level. More Losses in ETH? If Ethereum fails to recover above $1,910 and $1,950, it could continue to move down. An initial support on the downside is near the $1,850 level. A downside break below the $1,850 support could spark more losses. The first major support is near the $1,800 level. If ether fails to stay above the $1,800 support, it could decline towards the $1,750 swing support. Any more losses may possibly lead the price towards the $1,680 support zone in the coming sessions. 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 now well below the 50 level. Major Support Level \u2013 $1,850 Major Resistance Level \u2013 $2,000<\/p>\n","protected":false},"author":67,"featured_media":457691,"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-467441","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 Dives 8%<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n