{"id":554318,"date":"2023-10-06T04:24:31","date_gmt":"2023-10-06T04:24:31","guid":{"rendered":"https:\/\/uniquehot.com\/?p=554318"},"modified":"2024-06-11T10:25:04","modified_gmt":"2024-06-11T10:25:04","slug":"ethereum-price-risk-1585","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-risk-1585\/","title":{"rendered":"Ethereum Price At Risk of Sharp Decline Unless ETH Clears This Heavy Resistance"},"content":{"rendered":"<p><em>Ethereum price is slowly moving lower toward the $1,585 support against the US dollar. ETH must clear the $1,650 resistance to start a recovery wave.<\/em><\/p>\n<ul>\n<li>Ethereum is struggling to stay above the $1,600 support zone.<\/li>\n<li>The price is trading below $1,650 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $1,645 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh increase if it clears the $1,650 and $1,665 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Grinds Lower<\/h2>\n<p>Ethereum attempted a recovery wave from the $1,630 zone. ETH climbed above the $1,650 resistance level but upsides were limited, like <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-fresh-drop-27200\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>.<\/p>\n<p>The price struggled to gain pace for a move above the $1,665 resistance level. A high was formed near $1,654 and the price reacted to the downside. It declined below the $1,620 support and even traded close to the $1,600 level. A low is formed near $1,607 and the price is now consolidating losses.<\/p>\n<p>Ethereum is now trading below $1,650 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $1,645 on the hourly chart of ETH\/USD.<\/p>\n<p>On the upside, the price might face resistance near the $1,630 level. It is close to the 50% Fib retracement level of the recent decline from the $1,654 swing high to the $1,607 low. The next major resistance is $1,650, the trend line, and the 100-hourly Simple Moving Average.<\/p>\n<p>The trend line is close to the 76.4% Fib retracement level of the recent decline from the $1,654 swing high to the $1,607 low. A close above the $1,650 resistance might send the price toward the <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-recovery-hurdle-1665\/\" target=\"_blank\" rel=\"noopener \">key resistance at $1,665<\/a>.<\/p>\n<p><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-5.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-554319\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-5.png?resize=1024%2C468\" alt=\"Ethereum Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-5.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-5.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-5.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-5.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-5.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-5.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2023\/10\/Ethereum-5.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>To start a steady increase, Ether must settle above the $1,650 and $1,665 levels. The next key resistance might be $1,720. Any more gains might open the doors for a move toward $1,750.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,650 resistance, it could continue to move down. Initial support on the downside is near the $1,610 level. The next key support is $1,600.<\/p>\n<p>The first major support is now near $1,585. A downside break below the $1,585 support might start another strong decline. In the stated case, the price could decline toward the $1,540 level. Any more losses may perhaps send Ether toward the $1,500 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,585<\/p>\n<p>Major Resistance Level \u2013 $1,665<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is slowly moving lower toward the $1,585 support against the US dollar. ETH must clear the $1,650 resistance to start a recovery wave. Ethereum is struggling to stay above the $1,600 support zone. The price is trading below $1,650 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,645 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,650 and $1,665 resistance levels. Ethereum Price Grinds Lower Ethereum attempted a recovery wave from the $1,630 zone. ETH climbed above the $1,650 resistance level but upsides were limited, like Bitcoin. The price struggled to gain pace for a move above the $1,665 resistance level. A high was formed near $1,654 and the price reacted to the downside. It declined below the $1,620 support and even traded close to the $1,600 level. A low is formed near $1,607 and the price is now consolidating losses. Ethereum is now trading below $1,650 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $1,645 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,630 level. It is close to the 50% Fib retracement level of the recent decline from the $1,654 swing high to the $1,607 low. The next major resistance is $1,650, the trend line, and the 100-hourly Simple Moving Average. The trend line is close to the 76.4% Fib retracement level of the recent decline from the $1,654 swing high to the $1,607 low. A close above the $1,650 resistance might send the price toward the key resistance at $1,665. Source: ETHUSD on TradingView.com To start a steady increase, Ether must settle above the $1,650 and $1,665 levels. The next key resistance might be $1,720. Any more gains might open the doors for a move toward $1,750. More Losses in ETH? If Ethereum fails to clear the $1,650 resistance, it could continue to move down. Initial support on the downside is near the $1,610 level. The next key support is $1,600. The first major support is now near $1,585. A downside break below the $1,585 support might start another strong decline. In the stated case, the price could decline toward the $1,540 level. Any more losses may perhaps send Ether toward the $1,500 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,585 Major Resistance Level \u2013 $1,665<\/p>\n","protected":false},"author":67,"featured_media":463558,"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":[65296,1946,8686,78803],"class_list":["post-554318","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price At Risk of Sharp Decline Unless ETH Clears This Heavy Resistance<\/title>\n<meta name=\"description\" content=\"Ethereum price is slowly moving lower toward the $1,585 support against the US dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. 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":"Ethereum Price At Risk of Sharp Decline Unless ETH Clears This Heavy Resistance","url":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-risk-1585\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-risk-1585\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_1402375832.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/05\/shutterstock_1402375832.jpg?fit=1000%2C667"},"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":["ethbtc","ethereum","ethusd","ethusdt"],"dateCreated":"2023-10-06T04:24:31Z","datePublished":"2023-10-06T04:24:31Z","dateModified":"2024-06-11T10:25:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price At Risk of Sharp Decline Unless ETH Clears This Heavy Resistance\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-risk-1585\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ethereum\\\/ethereum-price-risk-1585\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1402375832.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_1402375832.jpg?fit=1000%2C667\"},\"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\":[\"ethbtc\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2023-10-06T04:24:31Z\",\"datePublished\":\"2023-10-06T04:24:31Z\",\"dateModified\":\"2024-06-11T10:25:04Z\"}<\/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\/05\/shutterstock_1402375832.jpg?fit=1000%2C667","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/554318","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=554318"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/554318\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/463558"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=554318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=554318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=554318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}