{"id":389798,"date":"2019-07-15T03:08:08","date_gmt":"2019-07-15T03:08:08","guid":{"rendered":"https:\/\/ktsl888.com\/?p=389798"},"modified":"2024-06-11T13:45:26","modified_gmt":"2024-06-11T13:45:26","slug":"ethereum-price-dives-20-eth-btc-breakdown-the-main-driver","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-price-dives-20-eth-btc-breakdown-the-main-driver\/","title":{"rendered":"Ethereum Price Dives 20%: ETH\/BTC Breakdown The Main Driver"},"content":{"rendered":"<ul>\n<li>ETH price declined heavily below key supports against the US Dollar and bitcoin.<\/li>\n<li>The price broke the key $260, $230 and $222 support levels to register 20% losses.<\/li>\n<li>There was a break below a short term declining channel with support near $227 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is heading towards the $200 support area, where the bulls may take a stand.<\/li>\n<\/ul>\n<p><em>Ethereum price fell significantly below $250 and 0.0250 versus the US Dollar and <a href=\"https:\/\/ktsl888.com\/2019\/07\/13\/bitcoin-price-btc-remains-vulnerable-risk-of-more-losses\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a> respectively. ETH price remains at a risk of more losses if it breaks $200.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>In the past three sessions, there was a massive decline in <a href=\"https:\/\/ktsl888.com\/2019\/07\/14\/bitcoin-btc-price-weekly-forecast-risk-of-extended-drop-to-8880\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>, Ethereum, <a href=\"https:\/\/ktsl888.com\/2019\/07\/12\/ripple-price-xrp-could-underperform-recovery-could-face-hurdles\/\" target=\"_blank\" rel=\"noopener noreferrer \">ripple<\/a> and other major altcoins against the US Dollar. ETH\/USD started a solid drop after it broke the key $275 and $260 support levels. The price declined more than 20% and even broke the $230 support area. Moreover, the price broke the $222 support and settled well below the 100 hourly simple moving average. The price traded close to the $210 level and formed a new monthly low at $212.<\/p>\n<p>It is currently trading with a bearish angle, with an initial resistance near the $220 level. The 23.6% Fib retracement level of the recent decline from the $240 high to $212 low is near the $219 level to act as a resistance. Besides, there was a break below a short term declining channel with support near $227 on the hourly chart of ETH\/USD. The same channel might act as a resistance near the $225 level.<\/p>\n<p>The 50% Fib retracement level of the recent decline from the $240 high to $212 low is also near $226 to act as a significant resistance. To start a decent recovery, the price has to move back above the $230 pivot level. In the mentioned case, it could even recover towards the $240 level.<\/p>\n<p>Conversely, if there is no upside recovery above $220 or $225, the price could extend losses. An initial support is near the $212 low, below which the price is likely to test the $200 support area. The bulls are likely to appear near the $200 level and defend more losses.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/07\/Ethereum-12.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-389799\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/07\/Ethereum-12.png?resize=1828%2C868\" alt=\"Ethereum Price Analysis ETH Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/07\/Ethereum-12.png?w=1828 1828w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/07\/Ethereum-12.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/07\/Ethereum-12.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/07\/Ethereum-12.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/07\/Ethereum-12.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/07\/Ethereum-12.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/07\/Ethereum-12.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, Ethereum price is under a lot of pressure vs the US Dollar and bitcoin. The main support is near the $200 level. If the bulls fail to defend the $200 support, there are chances of more losses in the near term.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is currently gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now near the extreme oversold readings.<\/p>\n<p>Major Support Level \u2013 $200<\/p>\n<p>Major Resistance Level \u2013 $225<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH price declined heavily below key supports against the US Dollar and bitcoin. The price broke the key $260, $230 and $222 support levels to register 20% losses. There was a break below a short term declining channel with support near $227 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is heading towards the $200 support area, where the bulls may take a stand. Ethereum price fell significantly below $250 and 0.0250 versus the US Dollar and bitcoin respectively. ETH price remains at a risk of more losses if it breaks $200. Ethereum Price Analysis In the past three sessions, there was a massive decline in bitcoin, Ethereum, ripple and other major altcoins against the US Dollar. ETH\/USD started a solid drop after it broke the key $275 and $260 support levels. The price declined more than 20% and even broke the $230 support area. Moreover, the price broke the $222 support and settled well below the 100 hourly simple moving average. The price traded close to the $210 level and formed a new monthly low at $212. It is currently trading with a bearish angle, with an initial resistance near the $220 level. The 23.6% Fib retracement level of the recent decline from the $240 high to $212 low is near the $219 level to act as a resistance. Besides, there was a break below a short term declining channel with support near $227 on the hourly chart of ETH\/USD. The same channel might act as a resistance near the $225 level. The 50% Fib retracement level of the recent decline from the $240 high to $212 low is also near $226 to act as a significant resistance. To start a decent recovery, the price has to move back above the $230 pivot level. In the mentioned case, it could even recover towards the $240 level. Conversely, if there is no upside recovery above $220 or $225, the price could extend losses. An initial support is near the $212 low, below which the price is likely to test the $200 support area. The bulls are likely to appear near the $200 level and defend more losses. Looking at the chart, Ethereum price is under a lot of pressure vs the US Dollar and bitcoin. The main support is near the $200 level. If the bulls fail to defend the $200 support, there are chances of more losses in the near term. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is currently gaining pace in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now near the extreme oversold readings. Major Support Level \u2013 $200 Major Resistance Level \u2013 $225<\/p>\n","protected":false},"author":67,"featured_media":344601,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8323,1946],"class_list":["post-389798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Price Dives 20%: ETH\/BTC Breakdown The Main Driver<\/title>\n<meta name=\"description\" content=\"Ethereum price fell significantly below $250 and 0.0250 versus the US Dollar and bitcoin respectively. 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