{"id":467764,"date":"2021-07-20T05:08:36","date_gmt":"2021-07-20T05:08:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=467764"},"modified":"2024-06-11T13:57:10","modified_gmt":"2024-06-11T13:57:10","slug":"ethereum-breaks-key-support-1800","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-breaks-key-support-1800\/","title":{"rendered":"TA: Ethereum Breaks Key Support, Why ETH Could Tumble To $1,500"},"content":{"rendered":"
Ethereum is gaining bearish momentum below $1,800 against the US Dollar. ETH price is likely to continue lower and it might even test the $1,500 level in the near term.<\/em><\/p>\n Ethereum is clearly following a bearish path from well above $1,950, similar to bitcoin<\/a>. ETH price broke the $1,900 support and it settled well below the 100 hourly simple moving average.<\/p>\n The price even declined below the $1,850 support and $1,800. A low is formed near $1,722 and the price is now showing signs of more losses<\/a> in the near term. On the upside, an initial resistance is near the $1,770 level.<\/p>\n The 23.6% Fib retracement level of the recent drop from the $1,920 swing high to $1,722 low is also near $1,770. The next key resistance is near the $1,800 level. There is also a major bearish trend line forming with resistance near $1,820 on the hourly chart of ETH\/USD.<\/p>\n The trend line is close to the 50% Fib retracement level of the recent drop from the $1,920 swing high to $1,722 low. To move into a positive zone, the price must climb above the $1,800 and $1,820 resistance levels.<\/p>\n <\/a><\/p>\n A proper break above the trend line resistance could initiate a move towards the $1,950 level. The next major resistance is near the $2,000 zone.<\/p>\n If Ethereum fails to recover above $1,770 and $1,820, it could continue to move down. An initial support on the downside is near the $1,720 level.<\/p>\n The first major support is near the $1,650 level. If ether fails to stay above the $1,650 support, it could decline towards the $1,600 support. Any more losses could set the pace for a drop towards the $1,500 support zone 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 bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now close to the 20 level.<\/p>\n Major Support Level \u2013 $1,650<\/p>\n Major Resistance Level \u2013 $1,820<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is gaining bearish momentum below $1,800 against the US Dollar. ETH price is likely to continue lower and it might even test the $1,500 level in the near term. Ethereum started a fresh decline and it even traded below the $1,850 support zone. The price is still trading well below the $1,800 resistance and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,820 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to continue lower below the $1,720 and $1,650 support levels in the near term. Ethereum Price Accelerating Lower Ethereum is clearly following a bearish path from well above $1,950, similar to bitcoin. ETH price broke the $1,900 support and it settled well below the 100 hourly simple moving average. The price even declined below the $1,850 support and $1,800. A low is formed near $1,722 and the price is now showing signs of more losses in the near term. On the upside, an initial resistance is near the $1,770 level. The 23.6% Fib retracement level of the recent drop from the $1,920 swing high to $1,722 low is also near $1,770. The next key resistance is near the $1,800 level. There is also a major bearish trend line forming with resistance near $1,820 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the recent drop from the $1,920 swing high to $1,722 low. To move into a positive zone, the price must climb above the $1,800 and $1,820 resistance levels. Source: ETHUSD on TradingView.com A proper break above the trend line resistance could initiate a move towards the $1,950 level. The next major resistance is near the $2,000 zone. More Losses in ETH? If Ethereum fails to recover above $1,770 and $1,820, it could continue to move down. An initial support on the downside is near the $1,720 level. The first major support is near the $1,650 level. If ether fails to stay above the $1,650 support, it could decline towards the $1,600 support. Any more losses could set the pace for a drop towards the $1,500 support zone in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now close to the 20 level. Major Support Level \u2013 $1,650 Major Resistance Level \u2013 $1,820<\/p>\n","protected":false},"author":67,"featured_media":458063,"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-467764","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 Accelerating Lower<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n