{"id":468182,"date":"2021-07-27T05:08:52","date_gmt":"2021-07-27T05:08:52","guid":{"rendered":"https:\/\/uniquehot.com\/?p=468182"},"modified":"2024-06-11T13:54:51","modified_gmt":"2024-06-11T13:54:51","slug":"ethereum-trims-gains-2k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-trims-gains-2k\/","title":{"rendered":"TA: Ethereum Trims Gains, Why ETH Could Restart Its Rally"},"content":{"rendered":"
Ethereum failed to stay above $2,400 and started a major correction against the US Dollar. ETH price is now approaching the key $2,100 and $2,080 support levels<\/em><\/p>\n Ethereum started a major upward move above the $2,000 resistance, similar to bitcoin<\/a>. ETH price surged above the $2,250 resistance and the 100 hourly simple moving average.<\/p>\n However, the price faced a strong selling interest near the $2,400 and $2,450 levels. A high was formed near $2,431 before the price started a downside correction. There was a major decline below the $2,320 and $2,250 support levels.<\/p>\n The price even broke the 61.8% Fib retracement level of the upward move<\/a> from the $2,110 swing low to $2,431 high. Besides, there was a break below a major bullish trend line with support near $2,200 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n The price is now trading below $2,200 and the 100 hourly simple moving average. On the upside, an initial resistance is near the $2,200 level. The next major barrier for the bulls could be near the $2,250 level, followed by $2,300. A close above $2,300 could start a fresh rally in the near term.<\/p>\n If Ethereum fails to continue higher above $2,250 and $2,300, it could extend its decline. An initial support on the downside is near the $2,110 level.<\/p>\n The first major support is near the $2,080 level. The main support is now forming near the $2,040 level. It is near the 1.236 Fib extension level of the upward move from the $2,110 swing low to $2,431 high. Any more losses could set the pace for a drop towards the $2,000 support zone in the near term. The next major support sits near the $1,910 level.<\/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 well below the 50 level.<\/p>\n Major Support Level \u2013 $2,080<\/p>\n Major Resistance Level \u2013 $2,250<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum failed to stay above $2,400 and started a major correction against the US Dollar. ETH price is now approaching the key $2,100 and $2,080 support levels Ethereum failed to gain pace above $2,400 and it started a downside correction. The price is now trading below $2,200 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $2,200 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to find a strong buying interest near the $2,100 and $2,000 support levels. Ethereum Price Corrects Lower Ethereum started a major upward move above the $2,000 resistance, similar to bitcoin. ETH price surged above the $2,250 resistance and the 100 hourly simple moving average. However, the price faced a strong selling interest near the $2,400 and $2,450 levels. A high was formed near $2,431 before the price started a downside correction. There was a major decline below the $2,320 and $2,250 support levels. The price even broke the 61.8% Fib retracement level of the upward move from the $2,110 swing low to $2,431 high. Besides, there was a break below a major bullish trend line with support near $2,200 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com The price is now trading below $2,200 and the 100 hourly simple moving average. On the upside, an initial resistance is near the $2,200 level. The next major barrier for the bulls could be near the $2,250 level, followed by $2,300. A close above $2,300 could start a fresh rally in the near term. Dips Limited in ETH? If Ethereum fails to continue higher above $2,250 and $2,300, it could extend its decline. An initial support on the downside is near the $2,110 level. The first major support is near the $2,080 level. The main support is now forming near the $2,040 level. It is near the 1.236 Fib extension level of the upward move from the $2,110 swing low to $2,431 high. Any more losses could set the pace for a drop towards the $2,000 support zone in the near term. The next major support sits near the $1,910 level. 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 well below the 50 level. Major Support Level \u2013 $2,080 Major Resistance Level \u2013 $2,250<\/p>\n","protected":false},"author":67,"featured_media":462718,"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-468182","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 Corrects Lower<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n