{"id":468624,"date":"2021-08-04T05:08:51","date_gmt":"2021-08-04T05:08:51","guid":{"rendered":"https:\/\/uniquehot.com\/?p=468624"},"modified":"2024-06-11T13:57:28","modified_gmt":"2024-06-11T13:57:28","slug":"ethereum-turns-red-2550","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-turns-red-2550\/","title":{"rendered":"TA: Ethereum (ETH) Turns Red, What Could Trigger Additional Losses"},"content":{"rendered":"<p><em>Ethereum failed to recover above the $2,500 resistance against the US Dollar. ETH price could accelerate its decline if it fails to stay above the $2,440 support.<\/em><\/p>\n<ul>\n<li>Ethereum traded below the $2,550 and $2,500 support levels.<\/li>\n<li>The price is now trading just below $2,500 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $2,580 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is likely to continue lower below the $2,440 support zone in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Could Extend Losses<\/h2>\n<p>Ethereum started a fresh decline from well above $2,600. ETH price broke the key $2,550 support level, similar to <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-struggle-below-40k\/\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a> near $40,000. The price even broke the $2,500 support level to enter a short-term bearish zone.<\/p>\n<p>The price is now trading just below $2,500 and the <a href=\"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-attractive-on-dips-2400\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. The recent low was formed near $2,444 before the price attempted a minor upside correction.<\/p>\n<p>There was a break above the $2,500 level. Ether recovered above the 23.6% Fib retracement level of the recent decline from the $2,668 swing low to $2,444 low. However, the bears were active near the $2,550 resistance zone.<\/p>\n<p>The next key resistance is near the $2,555 level. It is close to the 50% Fib retracement level of the recent decline from the $2,668 swing low to $2,444 low. There is also a key bearish trend line forming with resistance near $2,580 on the hourly chart of ETH\/USD.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Ethereum-2.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-468625\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Ethereum-2.png?resize=1828%2C867\" alt=\"Ethereum Price\" width=\"1828\" height=\"867\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Ethereum-2.png?w=1828 1828w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Ethereum-2.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Ethereum-2.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Ethereum-2.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Ethereum-2.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Ethereum-2.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/08\/Ethereum-2.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/pre>\n<p>A clear break and close above the $2,550 and $2,580 resistance levels might start a decent increase. In the stated case, the price could revisit the $2,700 level.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If ethereum fails to recover above the $2,550 and $2,580 resistance levels, it could extend its decline. An immediate support on the downside is near the $2,465 level.<\/p>\n<p>The next major support is near the $2,440 level. A clear downside break below the $2,440 support level might accelerate losses. In the stated case, the price could easily test $2,400. The next major support could be near the $2,330 level, where the bulls might take a stand.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,440<\/p>\n<p>Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum failed to recover above the $2,500 resistance against the US Dollar. ETH price could accelerate its decline if it fails to stay above the $2,440 support. Ethereum traded below the $2,550 and $2,500 support levels. The price is now trading just below $2,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,580 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to continue lower below the $2,440 support zone in the near term. Ethereum Price Could Extend Losses Ethereum started a fresh decline from well above $2,600. ETH price broke the key $2,550 support level, similar to bitcoin near $40,000. The price even broke the $2,500 support level to enter a short-term bearish zone. The price is now trading just below $2,500 and the 100 hourly simple moving average. The recent low was formed near $2,444 before the price attempted a minor upside correction. There was a break above the $2,500 level. Ether recovered above the 23.6% Fib retracement level of the recent decline from the $2,668 swing low to $2,444 low. However, the bears were active near the $2,550 resistance zone. The next key resistance is near the $2,555 level. It is close to the 50% Fib retracement level of the recent decline from the $2,668 swing low to $2,444 low. There is also a key bearish trend line forming with resistance near $2,580 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com A clear break and close above the $2,550 and $2,580 resistance levels might start a decent increase. In the stated case, the price could revisit the $2,700 level. More Losses in ETH? If ethereum fails to recover above the $2,550 and $2,580 resistance levels, it could extend its decline. An immediate support on the downside is near the $2,465 level. The next major support is near the $2,440 level. A clear downside break below the $2,440 support level might accelerate losses. In the stated case, the price could easily test $2,400. The next major support could be near the $2,330 level, where the bulls might take a stand. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining pace in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,440 Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"author":67,"featured_media":461576,"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-468624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>TA: Ethereum (ETH) Turns Red, What Could Trigger Additional Losses<\/title>\n<meta name=\"description\" content=\"Ethereum failed to recover above the $2,500 resistance against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/uniquehot.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Ethereum (ETH) Turns Red, What Could Trigger Additional Losses","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-turns-red-2550\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-turns-red-2550\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_481530088.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_481530088.jpg?fit=1000%2C683"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ethereum","ethusd","ethusdt"],"dateCreated":"2021-08-04T05:08:51Z","datePublished":"2021-08-04T05:08:51Z","dateModified":"2024-06-11T13:57:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum (ETH) Turns Red, What Could Trigger Additional Losses\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-turns-red-2550\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-turns-red-2550\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_481530088.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_481530088.jpg?fit=1000%2C683\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2021-08-04T05:08:51Z\",\"datePublished\":\"2021-08-04T05:08:51Z\",\"dateModified\":\"2024-06-11T13:57:28Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_481530088.jpg?fit=1000%2C683","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/468624","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=468624"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/468624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/461576"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=468624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=468624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=468624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}