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TA: Ethereum Consolidates, What Could Trigger Strong Recovery in ETH

TA: Ethereum Consolidates, What Could Trigger Strong Recovery in ETH

Ethereum restarted its decline after it failed to stay above $2,000 against the US Dollar. ETH price is holding the $1,880 support, but it must clear $2,000 for a decent increase.

  • Ethereum started a fresh decline and it once again tested the $1,880 support zone.
  • The price is still trading well below the $2,000 resistance and the 100 hourly simple moving average.
  • There is a major bearish trend line forming with resistance near $1,955 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a decent increase if it clears the $1,965 and $2,000 resistance levels.

Ethereum Price Settles Below $2K

After a failed attempt to settle above $2,000, ethereum extended its decline, similar to bitcoin. ETH price broke the $1,920 support and it settled well below the 100 hourly simple moving average.

However, the price stayed above the $1,880 support. A low was formed near $1,861 and the price recently started an upside correction. There was a break above the $1,920 and $1,925 resistance levels.

Ether climbed above the 23.6% Fib retracement level of the recent decline from the $2,043 swing high to $1,881 low. It is now facing resistance near the $1,950 zone. There is also a major bearish trend line forming with resistance near $1,955 on the hourly chart of ETH/USD.

Ethereum Price

Ethereum Price

Source: ETHUSD on TradingView.com

The trend line is close to the 50% Fib retracement level of the recent decline from the $2,043 swing high to $1,881 low. The next major resistance is near the $2,000 zone and the 100 hourly simple moving average.

If ether breaks the trend line and then settles above $2,050, there could be a steady increase. The next major resistance is near the $2,050 level.

Fresh Decline in ETH?

If Ethereum fails to recover above $1,955 and $2,050, it could continue to move down. An initial support on the downside is near the $1,920 level.

The first major support is near the $1,880 level. If ether fails to stay above the $1,880 support, it could decline towards the $1,865 support. Any more losses could set the pace for a drop towards the $1,750 support zone in the near term.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly gaining pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now back above the 50 level.

Major Support Level – $1,880

Major Resistance Level – $2,000

Source

TA: Ethereum (ETH) Tumbles, Why Key Indicators Suggest More Pain

TA: Ethereum (ETH) Tumbles, Why Key Indicators Suggest More Pain

Ethereum declined below the main $2,000 support zone against the US Dollar. ETH price is showing bearish signs and it remains at a risk of more downsides below $1,800.

  • Ethereum extended its decline below the $2,000 and $1,920 levels.
  • The price is now trading well below the $2,000 resistance and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $1,940 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue lower below the $1,850 and $1,820 support levels.

Ethereum Price Dives 8%

There was no major recovery in ethereum above the $2,100 level, similar to bitcoin. As a result, ETH saw another decline and it broke the main $2,000 support zone.

The price gained pace below the $1,950 support and it settled well below the 100 hourly simple moving average. A low is formed near $1,864 and the price is now consolidating losses. An initial resistance on the upside is near the $1,910 level.

The 23.6% Fib retracement level of the recent drop from the $2,046 high to $1,864 low is also near $1,910. Besides, there is a key bearish trend line forming with resistance near $1,940 on the hourly chart of ETH/USD.

Ethereum Price

Ethereum Price

Source: ETHUSD on TradingView.com

The trend line resistance is close to the 50% Fib retracement level of the recent drop from the $2,046 high to $1,864 low. The main resistance now sits near the $2,000 level. A close above the $2,000 zone could set the pace for a larger increase in the near term. The next major resistance is near the $2,075 level.

More Losses in ETH?

If Ethereum fails to recover above $1,910 and $1,950, it could continue to move down. An initial support on the downside is near the $1,850 level.

A downside break below the $1,850 support could spark more losses. The first major support is near the $1,800 level. If ether fails to stay above the $1,800 support, it could decline towards the $1,750 swing support. Any more losses may possibly lead the price towards the $1,680 support zone in the coming sessions.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly gaining pace in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now well below the 50 level.

Major Support Level – $1,850

Major Resistance Level – $2,000

Source

TA: Why Ethereum (ETH) Could Nosedive Below $2K, Bears In Control

TA: Why Ethereum (ETH) Could Nosedive Below $2K, Bears In Control

Ethereum is down 5% and it is struggling to stay above $2,000 against the US Dollar. ETH price could decline sharply if there is a break and close below $2,000.

  • Ethereum is showing bearish signs below the $2,050 and $2,100 levels.
  • The price is now trading well below the $2,100 resistance and the 100 hourly simple moving average.
  • There was a break below a key contracting triangle with support near $2,110 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair must stay above the $2,000 support to avoid a major decline in the near term.

Ethereum Price Remains At Risk

There was a fresh decline in ethereum from the $2,175 resistance zone, similar to bitcoin. ETH broke many supports near $2,100 and the 100 hourly simple moving average to move into a bearish zone.

There was also a break below a key contracting triangle with support near $2,110 on the hourly chart of ETH/USD. The pair traded below the $2,050 support and it tested the $2,000 support. A low is formed near $2,009 and the price is now consolidating losses.

An immediate resistance on the upside is near the $2,050 zone. It is near the 23.6% Fib retracement level of the recent dive from the $2,175 high to $2,009 low.

Ethereum Price

Ethereum Price

Source: ETHUSD on TradingView.com

The first key resistance is near the $2,090 and $2,100 levels. The 50% Fib retracement level of the recent dive from the $2,175 high to $2,009 low is also near $2,090. A close above $2,100 might start a decent recovery wave in the near term. The next major resistance is near the $2,175 level.

More Losses in ETH?

If Ethereum fails to recover above $2,050 or $2,100, it could continue to move down. An initial support on the downside is near the $2,010 level.

The first major support is near the $2,000 level. If ether bulls fail to defend the $2,010 and $2,000 support levels, there are chances of a sharp decline. In the stated case, ether bears might aim a test of the $1,850 support level. An intermediate support could be near $1,920.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly gaining pace in the bearish zone.

Hourly RSIThe RSI for ETH/USD is well below the 50 level.

Major Support Level – $2,000

Major Resistance Level – $2,100

Source