{"id":552269,"date":"2023-09-21T04:36:54","date_gmt":"2023-09-21T04:36:54","guid":{"rendered":"https:\/\/uniquehot.com\/?p=552269"},"modified":"2024-06-11T14:29:28","modified_gmt":"2024-06-11T14:29:28","slug":"ethereum-price-grinds-lower-1600","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-grinds-lower-1600\/","title":{"rendered":"Ethereum Price Grinds Lower But Key Support Is Still Intact"},"content":{"rendered":"
Ethereum price corrected lower from the $1,670 resistance against the US Dollar. ETH could take a major hit if it breaks the $1,600 support.<\/em><\/p>\n
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Ethereum started a bearish wave from the $1,660 resistance.<\/li>\n
The price is trading below $1,640 and the 100-hourly Simple Moving Average.<\/li>\n
There is a key bearish trend line forming with resistance near $1,640 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair must stay above the $1,600 support zone to start another increase in the short term.<\/li>\n<\/ul>\n
Ethereum Price Slides Further<\/h2>\n
Ethereum\u2019s price failed to clear the $1,660 and $1,670 resistance levels. As a result, ETH started another decline and traded below the $1,630 support, like Bitcoin<\/a>.<\/p>\n