ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\nAn upside break above the $2,360 resistance might call for more gains. In the stated case, Ether could rise toward the $2,420 resistance zone in the near term. The next hurdle sits near the $2,465 level.<\/p>\n
More Losses In ETH?<\/h2>\n If Ethereum fails to clear the $2,360 resistance, it could start another decline in the near term. Initial support on the downside is near $2,265. The first major support sits near the $2,250 zone.<\/p>\n
A clear move below the $2,250 support might push the price toward $2,200. Any more losses might send the price toward the $2,150 support level in the near term. The next key support sits at $2,120.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\nHourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\nMajor Support Level \u2013 $2,250<\/p>\n
Major Resistance Level \u2013 $2,300<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price gained bearish momentum and traded below $2,350. ETH is consolidating losses and might struggle to recover above $2,350. Ethereum started another decline below $2,350 and $2,320. The price is trading below $2,310 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $2,360 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must clear the $2,360 resistance to start a recovery wave in the near term. Ethereum Price Starts Consolidation Ethereum price failed to clear the $2,450 resistance and started another decline like Bitcoin. ETH traded below the $2,400 and $2,350 support levels to enter a bearish zone. The price even dived below the $2,320 level. A low was formed at $2,253 and the price is now consolidating losses. There was a minor recovery wave above the $2,285 level. The price tested the 23.6% Fib retracement level of the downward wave from the $2,466 swing high to the $2,253 low. Ethereum price is now trading below $2,310 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,300 level. There is also a declining channel forming with resistance at $2,300 on the hourly chart of ETH\/USD. The first major resistance is near the $2,340 level. The next key resistance is near $2,360 or the 50% Fib retracement level of the downward wave from the $2,466 swing high to the $2,253 low. There is also a major bearish trend line forming with resistance at $2,360 on the same chart. An upside break above the $2,360 resistance might call for more gains. In the stated case, Ether could rise toward the $2,420 resistance zone in the near term. The next hurdle sits near the $2,465 level. More Losses In ETH? If Ethereum fails to clear the $2,360 resistance, it could start another decline in the near term. Initial support on the downside is near $2,265. The first major support sits near the $2,250 zone. A clear move below the $2,250 support might push the price toward $2,200. Any more losses might send the price toward the $2,150 support level in the near term. The next key support sits at $2,120. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 zone. Major Support Level \u2013 $2,250 Major Resistance Level \u2013 $2,300<\/p>\n","protected":false},"author":67,"featured_media":642450,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83362],"tags":[65296,1946,8686,78803],"class_list":["post-642448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n
Ethereum Price Struggles to Recover: Short-Term Outlook Weak<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n