{"id":501339,"date":"2022-09-07T04:38:29","date_gmt":"2022-09-07T04:38:29","guid":{"rendered":"https:\/\/uniquehot.com\/?p=501339"},"modified":"2024-06-11T11:26:20","modified_gmt":"2024-06-11T11:26:20","slug":"ethereum-nosedives-1500-key","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-nosedives-1500-key\/","title":{"rendered":"TA: Ethereum Nosedives, Why $1,500 Is The Key For More Losses"},"content":{"rendered":"
Ethereum failed to test $1,700 and started a major decline against the US Dollar. ETH declined over 7% and there was a move below the $1,540 support.<\/em><\/p>\n Ethereum climbed above the $1,620 and $1,650 resistance levels. However, ETH failed to test the $1,700 resistance zone. A high was formed near the $1,686 level and there was a sharp bearish wave, similar to bitcoin<\/a>.<\/p>\n The price declined below the $1,620 and $1,600 support levels. There was a break below a major bullish trend line with support near $1,570 on the hourly chart of ETH\/USD. The pair even broke the $1,540 support level and the 100 hourly simple moving average<\/a>.<\/p>\n Ether price spiked below the $1,500 level and a low is formed at $1,490. It is now consolidating losses above the $1,500 level. An immediate resistance on the upside is near the $1,520 level.<\/p>\n The next major resistance is now forming near the $1,540 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,686 swing high to $1,490 low. A clear move above the $1,540 level might push the price towards the $1,565 level.<\/p>\n <\/a><\/p>\n The next major resistance sits near the $1,585 level. It is near the 50% Fib retracement level of the recent decline from the $1,686 swing high to $1,490 low. Any more gains may perhaps open the doors for a move towards the $1,620 resistance in the near term.<\/p>\n If ethereum fails to rise above the $1,540 resistance, it could continue to move down. An initial support on the downside is near the $1,500 zone.<\/p>\n The next major support is near $1,480. A close below the $1,480 level might send ether price towards $1,420. Any more losses may perhaps push the price towards the $1,350 zone.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 40 level.<\/p>\n Major Support Level \u2013 $1,500<\/p>\n Major Resistance Level \u2013 $1,540<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum failed to test $1,700 and started a major decline against the US Dollar. ETH declined over 7% and there was a move below the $1,540 support. Ethereum started a major decline below the $1,600 and $1,540 support levels. The price is now trading below $1,600 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $1,570 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above the $1,500 support to avoid more losses in the near term. Ethereum Trimmed Gains Ethereum climbed above the $1,620 and $1,650 resistance levels. However, ETH failed to test the $1,700 resistance zone. A high was formed near the $1,686 level and there was a sharp bearish wave, similar to bitcoin. The price declined below the $1,620 and $1,600 support levels. There was a break below a major bullish trend line with support near $1,570 on the hourly chart of ETH\/USD. The pair even broke the $1,540 support level and the 100 hourly simple moving average. Ether price spiked below the $1,500 level and a low is formed at $1,490. It is now consolidating losses above the $1,500 level. An immediate resistance on the upside is near the $1,520 level. The next major resistance is now forming near the $1,540 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,686 swing high to $1,490 low. A clear move above the $1,540 level might push the price towards the $1,565 level. Source: ETHUSD on TradingView.com The next major resistance sits near the $1,585 level. It is near the 50% Fib retracement level of the recent decline from the $1,686 swing high to $1,490 low. Any more gains may perhaps open the doors for a move towards the $1,620 resistance in the near term. More Losses in ETH? If ethereum fails to rise above the $1,540 resistance, it could continue to move down. An initial support on the downside is near the $1,500 zone. The next major support is near $1,480. A close below the $1,480 level might send ether price towards $1,420. Any more losses may perhaps push the price towards the $1,350 zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 40 level. Major Support Level \u2013 $1,500 Major Resistance Level \u2013 $1,540<\/p>\n","protected":false},"author":67,"featured_media":464166,"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":[8323,1946,8686,78803],"class_list":["post-501339","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Trimmed Gains<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n