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{"id":489861,"date":"2022-05-06T05:08:21","date_gmt":"2022-05-06T05:08:21","guid":{"rendered":"https:\/\/uniquehot.com\/?p=489861"},"modified":"2024-06-11T14:20:55","modified_gmt":"2024-06-11T14:20:55","slug":"ethereum-takes-hit-2700","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-takes-hit-2700\/","title":{"rendered":"TA: Ethereum Takes Hit, Why ETH Could Plunge Below $2,700"},"content":{"rendered":"

Ethereum started a major decline from the $2,970 zone against the US Dollar. ETH dived below $2,800 and might accelerate lower below the $2,700 support.<\/em><\/p>\n

\n
Ethereum started a major decline after it failed to surpass $2,970.<\/li>\n
The price is now trading below $2,800 and the 100 hourly simple moving average.<\/li>\n
There was a break below a key bullish trend line with support near $2,900 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could decline further if there is a close below the $2,700 support zone.<\/li>\n<\/ul>\n
Ethereum Price Dives<\/h2>\n
Ethereum struggled to settle above the $2,950 resistance<\/a>. ETH topped near the $2,970 level and started a fresh decline. There was a sharp move below the $2,900 and $2,850 levels. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n
Besides, there was a break below a key bullish trend line with support near $2,900 on the hourly chart of ETH\/USD. Ether price declined below the $2,800 level and the 100 hourly simple moving average<\/a>. Finally, there was a spike below the $2,720 support level.<\/p>\n
A low was formed near $2,678 and the price corrected a few points. There was a recovery wave above the $2,720 level. The price even climbed above the 23.6% Fib retracement level of the recent decline from the $2,969 swing high to $2,678 low.<\/p>\n
On the upside, an initial resistance is seen near the $2,760 level. The first major resistance is near the $2,820 level. It is near the 50% Fib retracement level of the recent decline from the $2,969 swing high to $2,678 low. The main breakout zone is now near the $2,875 level.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
A close above the $2,875 level could open the doors for a decent increase, In the stated case, ether price might rise towards the $3,000 resistance.<\/p>\n
More Losses in ETH?<\/h2>\n
If ethereum fails to gain pace above the $2,760 resistance, it could continue to move down. An initial support on the downside is near the $2,720 zone.<\/p>\n
The next major support is near the $2,680 level. If there is a downside break below $2,680 and the recent low, ether price might accelerate lower. In this case, it could even decline below the $2,600 level. Download Bitcoin Miner Awesom Miner Official for Windows<\/a>. Safe install and earn ETH\/BTC.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now moving 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 $2,680<\/p>\n
Major Resistance Level \u2013 $2,760<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum started a major decline from the $2,970 zone against the US Dollar. ETH dived below $2,800 and might accelerate lower below the $2,700 support. Ethereum started a major decline after it failed to surpass $2,970. The price is now trading below $2,800 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,900 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could decline further if there is a close below the $2,700 support zone. Ethereum Price Dives Ethereum struggled to settle above the $2,950 resistance. ETH topped near the $2,970 level and started a fresh decline. There was a sharp move below the $2,900 and $2,850 levels. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH\/BTC. Besides, there was a break below a key bullish trend line with support near $2,900 on the hourly chart of ETH\/USD. Ether price declined below the $2,800 level and the 100 hourly simple moving average. Finally, there was a spike below the $2,720 support level. A low was formed near $2,678 and the price corrected a few points. There was a recovery wave above the $2,720 level. The price even climbed above the 23.6% Fib retracement level of the recent decline from the $2,969 swing high to $2,678 low. On the upside, an initial resistance is seen near the $2,760 level. The first major resistance is near the $2,820 level. It is near the 50% Fib retracement level of the recent decline from the $2,969 swing high to $2,678 low. The main breakout zone is now near the $2,875 level. Source: ETHUSD on TradingView.com A close above the $2,875 level could open the doors for a decent increase, In the stated case, ether price might rise towards the $3,000 resistance. More Losses in ETH? If ethereum fails to gain pace above the $2,760 resistance, it could continue to move down. An initial support on the downside is near the $2,720 zone. The next major support is near the $2,680 level. If there is a downside break below $2,680 and the recent low, ether price might accelerate lower. In this case, it could even decline below the $2,600 level. Download Bitcoin Miner Awesom Miner Official for Windows. Safe install and earn ETH\/BTC. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now moving in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now well below the 50 level. Major Support Level \u2013 $2,680 Major Resistance Level \u2013 $2,760<\/p>\n","protected":false},"author":67,"featured_media":459497,"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-489861","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nTA: Ethereum Takes Hit, Why ETH Could Plunge Below $2,700<\/title>\n<meta name=\"description\" content=\"Ethereum started a major decline from the $2,970 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. 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More Losses in ETH?<\/h2>\nIf ethereum fails to gain pace above the $2,760 resistance, it could continue to move down. An initial support on the downside is near the $2,720 zone.<\/p>\n