{"id":552851,"date":"2023-09-26T03:27:21","date_gmt":"2023-09-26T03:27:21","guid":{"rendered":"https:\/\/uniquehot.com\/?p=552851"},"modified":"2024-06-11T14:29:37","modified_gmt":"2024-06-11T14:29:37","slug":"ethereum-price-uphill-task-1600","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-uphill-task-1600\/","title":{"rendered":"Ethereum Price Hints At Potential Correction But Faces Uphill Task"},"content":{"rendered":"
Ethereum price is attempting a recovery wave from $1,565 against the US Dollar. ETH could struggle to recover above $1,600 and might resume its decline.<\/em><\/p>\n
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Ethereum is slowly moving higher toward the $1,600 resistance zone.<\/li>\n
The price is trading below $1,600 and the 100-hourly Simple Moving Average.<\/li>\n
There is a major bearish trend line forming with resistance near $1,595 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could start a fresh decline if it fails to clear the $1,600 resistance zone.<\/li>\n<\/ul>\n
Ethereum Price Struggles Below $1,600<\/h2>\n
Ethereum\u2019s price started a fresh decline below the $1,620 and $1,600 levels. ETH even declined to a new weekly low below the $1,580 level, unlike Bitcoin<\/a>.<\/p>\n