{"id":402059,"date":"2019-10-23T03:08:48","date_gmt":"2019-10-23T03:08:48","guid":{"rendered":"https:\/\/ktsl888.com\/?p=402059"},"modified":"2024-06-11T13:06:08","modified_gmt":"2024-06-11T13:06:08","slug":"ethereum-eth-resumes-downtrend-bitcoin-down-2","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/","title":{"rendered":"Ethereum (ETH) Resumes Downtrend, Bitcoin Down 2%"},"content":{"rendered":"<ul>\n<li>Ethereum price is declining again after it failed to break $178 and $180 against the US Dollar.<\/li>\n<li>Bitcoin price is also moving down and it is likely to break the $8,000 support area.<\/li>\n<li>There is a key bearish trend line forming with resistance near $172 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair remains at a risk of more downsides below the $170 and $168 support levels.<\/li>\n<\/ul>\n<p><em>Ethereum price is resuming its downtrend below $175 versus the US Dollar, similar to <a href=\"https:\/\/ktsl888.com\/2019\/10\/21\/bitcoin-btc-price-recovers-but-approach-cautious\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>. ETH price could even break the $168 support and decline towards $160.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>This week, we discussed the importance of the <a href=\"https:\/\/ktsl888.com\/2019\/10\/22\/ethereum-eth-trading-sideways-while-bitcoin-trimming-gains\/\" target=\"_blank\" rel=\"noopener noreferrer \">$178 and $180 resistance levels<\/a> for Ethereum against the US Dollar. ETH did test the $178 resistance area recently, but it failed to continue higher.<\/p>\n<p>As a result, there was a fresh decline initiated from $178 and the price broke the key $175 support. Similarly, there were bearish moves in bitcoin price after it failed to settle above the $8,200 level. BTC may perhaps continue to move down towards the $7,800 support.<\/p>\n<p>The recent price action in Ethereum pushed it below the $175 and $174 levels. Moreover, there was a close below the $172 support and the 100 hourly simple moving average. The bears pushed the price below the 50% Fib retracement level of the upward move from the $169 swing low to $178 high.<\/p>\n<p>At the outset, the price is testing the $170 level, plus trading well below the 76.4% Fib retracement level of the upward move from the $169 swing low to $178 high. Therefore, there are chances of more downsides below the $170 and $168 support levels.<\/p>\n<p>If there is a break below $170, ETH could test the 1.236 Fib extension level of the upward move from the $169 swing low to $178 high at $167. Having said that, the price is likely to continue lower and trade towards the $162 and $160 support levels.<\/p>\n<p>On the upside, there is a key bearish trend line forming with resistance near $172 on the hourly chart of ETH\/USD. Thus, a clear break above the trend line and close above $175 is needed for a fresh increase in the near term.<\/p>\n<figure id=\"attachment_402060\" aria-describedby=\"caption-attachment-402060\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/10\/Ethereum-19.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-402060 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/10\/Ethereum-19.png?resize=1828%2C868\" alt=\"Ethereum Price\" width=\"1828\" height=\"868\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/10\/Ethereum-19.png?w=1828 1828w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/10\/Ethereum-19.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/10\/Ethereum-19.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/10\/Ethereum-19.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/10\/Ethereum-19.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/10\/Ethereum-19.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2019\/10\/Ethereum-19.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-402060\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, Ethereum price is clearly resuming its downtrend below $175 and $172. The price action is negative, suggesting more downsides below the $170 and $168 support levels. The next major stop for the bears may perhaps be $160.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining pace in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is declining and is well below the 40 level.<\/p>\n<p>Major Support Level \u2013 $168<\/p>\n<p>Major Resistance Level \u2013 $175<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is declining again after it failed to break $178 and $180 against the US Dollar. Bitcoin price is also moving down and it is likely to break the $8,000 support area. There is a key bearish trend line forming with resistance near $172 on the hourly chart of ETH\/USD (data feed via Kraken). The pair remains at a risk of more downsides below the $170 and $168 support levels. Ethereum price is resuming its downtrend below $175 versus the US Dollar, similar to bitcoin. ETH price could even break the $168 support and decline towards $160. Ethereum Price Analysis This week, we discussed the importance of the $178 and $180 resistance levels for Ethereum against the US Dollar. ETH did test the $178 resistance area recently, but it failed to continue higher. As a result, there was a fresh decline initiated from $178 and the price broke the key $175 support. Similarly, there were bearish moves in bitcoin price after it failed to settle above the $8,200 level. BTC may perhaps continue to move down towards the $7,800 support. The recent price action in Ethereum pushed it below the $175 and $174 levels. Moreover, there was a close below the $172 support and the 100 hourly simple moving average. The bears pushed the price below the 50% Fib retracement level of the upward move from the $169 swing low to $178 high. At the outset, the price is testing the $170 level, plus trading well below the 76.4% Fib retracement level of the upward move from the $169 swing low to $178 high. Therefore, there are chances of more downsides below the $170 and $168 support levels. If there is a break below $170, ETH could test the 1.236 Fib extension level of the upward move from the $169 swing low to $178 high at $167. Having said that, the price is likely to continue lower and trade towards the $162 and $160 support levels. On the upside, there is a key bearish trend line forming with resistance near $172 on the hourly chart of ETH\/USD. Thus, a clear break above the trend line and close above $175 is needed for a fresh increase in the near term. Looking at the chart, Ethereum price is clearly resuming its downtrend below $175 and $172. The price action is negative, suggesting more downsides below the $170 and $168 support levels. The next major stop for the bears may perhaps be $160. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining pace in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is declining and is well below the 40 level. Major Support Level \u2013 $168 Major Resistance Level \u2013 $175<\/p>\n","protected":false},"author":67,"featured_media":328919,"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-402059","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum (ETH) Resumes Downtrend, Bitcoin Down 2%<\/title>\n<meta name=\"description\" content=\"Ethereum price is resuming its downtrend below $175 versus the US Dollar, similar to bitcoin. 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ETH price could even break the $168 support and decline towards $160.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-23T03:08:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:06:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth3.jpg?fit=1200%2C600\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aayush Jindal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@twitter.com\/AayushJs\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aayush Jindal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum (ETH) Resumes Downtrend, Bitcoin Down 2%\",\"datePublished\":\"2019-10-23T03:08:48+00:00\",\"dateModified\":\"2024-06-11T13:06:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/\"},\"wordCount\":424,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth3.jpg?fit=1200%2C600\",\"keywords\":[\"ETH\",\"ethereum\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/ktsl888.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/\",\"url\":\"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/\",\"name\":\"Ethereum (ETH) Resumes Downtrend, Bitcoin Down 2%\",\"isPartOf\":{\"@id\":\"https:\/\/ktsl888.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/ktsl888.com\/news\/ethereum-eth-resumes-downtrend-bitcoin-down-2\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/ktsl888.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth3.jpg?fit=1200%2C600\",\"datePublished\":\"2019-10-23T03:08:48+00:00\",\"dateModified\":\"2024-06-11T13:06:08+00:00\",\"description\":\"Ethereum price is resuming its downtrend below $175 versus the US Dollar, similar to bitcoin. 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