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{"id":485348,"date":"2022-03-08T05:28:34","date_gmt":"2022-03-08T05:28:34","guid":{"rendered":"https:\/\/uniquehot.com\/?p=485348"},"modified":"2024-06-11T14:18:05","modified_gmt":"2024-06-11T14:18:05","slug":"ethereum-major-downtrend-2500","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-major-downtrend-2500\/","title":{"rendered":"TA: Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level 2022-03-08"},"content":{"rendered":"

Ethereum extended decline below the $2,500 support zone against the US Dollar. ETH price is recovering, but it must clear $2,680 to start a decent increase.<\/em><\/p>\n

\n
Ethereum extended decline below the $2,500 support before correcting higher.<\/li>\n
The price is now trading below $2,600 and the 100 hourly simple moving average.<\/li>\n
There is a key bearish trend line forming with resistance near $2,600 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could start a steady recovery wave if it clears $2,600 and $2,680.<\/li>\n<\/ul>\n
Ethereum Price Faces Hurdle<\/h2>\n
Ethereum remained in a bearish zone<\/a> below the $2,650 level. ETH even extended decline below the $2,500 support level and settled below the 100 hourly simple moving average.<\/p>\n
A low was formed near $2,445 and the price is now correcting losses. There was a move above the $2,500 resistance level. Ether price even spiked above the 50% Fib retracement level of the recent decline from the $2,648 swing high to $2,445 low.<\/p>\n
However, the bears remained active near the $2,570 level. It is near the 61.8% Fib retracement level of the recent decline from the $2,648 swing high to $2,445 low.<\/p>\n
The first major resistance is seen near the $2,600 level (the recent breakdown zone). There is also a key bearish trend line forming with resistance near $2,600 on the hourly chart of ETH\/USD. The next major resistance might be near the 100 hourly simple moving average<\/a> and the $2,680 level.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
A close above the 100 hourly SMA and then $2,680 might start a steady increase. In the stated case, the price might rise towards $2,800 or even $2,880.<\/p>\n
More Downsides in ETH?<\/h2>\n
If ethereum fails to start a fresh increase above the $2,600 level, it could start another decline. An initial support on the downside is near the $2,500 level.<\/p>\n
The next major support is near the $2,445 low, below which the price might gain bearish momentum. In the stated case, ether price could decline towards the $2,400 support zone. Any more losses might call for a move towards the $2,300 level 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 bullish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n
Major Support Level \u2013 $2,500<\/p>\n
Major Resistance Level \u2013 $2,680<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum extended decline below the $2,500 support zone against the US Dollar. ETH price is recovering, but it must clear $2,680 to start a decent increase. Ethereum extended decline below the $2,500 support before correcting higher. The price is now trading below $2,600 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,600 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a steady recovery wave if it clears $2,600 and $2,680. Ethereum Price Faces Hurdle Ethereum remained in a bearish zone below the $2,650 level. ETH even extended decline below the $2,500 support level and settled below the 100 hourly simple moving average. A low was formed near $2,445 and the price is now correcting losses. There was a move above the $2,500 resistance level. Ether price even spiked above the 50% Fib retracement level of the recent decline from the $2,648 swing high to $2,445 low. However, the bears remained active near the $2,570 level. It is near the 61.8% Fib retracement level of the recent decline from the $2,648 swing high to $2,445 low. The first major resistance is seen near the $2,600 level (the recent breakdown zone). There is also a key bearish trend line forming with resistance near $2,600 on the hourly chart of ETH\/USD. The next major resistance might be near the 100 hourly simple moving average and the $2,680 level. Source: ETHUSD on TradingView.com A close above the 100 hourly SMA and then $2,680 might start a steady increase. In the stated case, the price might rise towards $2,800 or even $2,880. More Downsides in ETH? If ethereum fails to start a fresh increase above the $2,600 level, it could start another decline. An initial support on the downside is near the $2,500 level. The next major support is near the $2,445 low, below which the price might gain bearish momentum. In the stated case, ether price could decline towards the $2,400 support zone. Any more losses might call for a move towards the $2,300 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $2,500 Major Resistance Level \u2013 $2,680<\/p>\n","protected":false},"author":67,"featured_media":462031,"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-485348","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nTA: Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level 2022-03-08<\/title>\n<meta name=\"description\" content=\"Ethereum extended decline below the $2,500 support zone against the US Dollar. 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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 Could Avoid a Major Downtrend if it Closes Above One Key Level 2022-03-08","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-major-downtrend-2500\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-major-downtrend-2500\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_614141174.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/04\/shutterstock_614141174.jpg?fit=1000%2C740"},"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":"2022-03-08T05:28:34Z","datePublished":"2022-03-08T05:28:34Z","dateModified":"2024-06-11T14:18:05Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level 2022-03-08\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-major-downtrend-2500\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-major-downtrend-2500\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_614141174.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/04\\\/shutterstock_614141174.jpg?fit=1000%2C740\"},\"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\":\"2022-03-08T05:28:34Z\",\"datePublished\":\"2022-03-08T05:28:34Z\",\"dateModified\":\"2024-06-11T14:18:05Z\"}<\/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_614141174.jpg?fit=1000%2C740","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/485348","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=485348"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/485348\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/462031"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=485348"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=485348"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=485348"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}