{"id":440681,"date":"2020-10-07T05:48:56","date_gmt":"2020-10-07T05:48:56","guid":{"rendered":"https:\/\/ktsl888.com\/?p=440681"},"modified":"2024-06-11T14:17:32","modified_gmt":"2024-06-11T14:17:32","slug":"ethereum-price-plunges-5","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-plunges-5\/","title":{"rendered":"TA: Ethereum Price Plunges 5%, Can Buyers Save The Key $335 Support?"},"content":{"rendered":"
Ethereum is down over 5% and it broke the key $350 support level against the US Dollar. ETH price is testing the $335 support and it remains at a risk of more losses.<\/em><\/p>\n Ethereum made a couple of attempts to clear the $355 resistance zone<\/a>, but it failed to gain bullish momentum. ETH price topped near the $355 level and recently started a sharp decline (5%)<\/a>.<\/p>\n The decline was initiated after there was a break below a key contracting triangle with support at $352 on the hourly chart of ETH\/USD. Ether price gained pace below the $350 support and the 100 hourly simple moving average.<\/p>\n The price even spiked below the key $335 support and traded as low as $333. It is currently correcting higher and trading above $335. Ether is currently testing the 23.6% Fib retracement level of the downward move from the $355 high to $333 low.<\/p>\n <\/a><\/p>\n On the upside, the first key resistance is near the $342 level or the 50% Fib retracement level of the downward move from the $355 high to $333 low. The main resistance is now forming near the $350 level and the 100 hourly simple moving average.<\/p>\n To start a fresh increase, buyers need to gain strength above the $342 and $350 resistance levels. The key breakout zone is still near the $355 level.<\/p>\n If Ethereum fails to start a decent recovery wave above the $342 resistance, there is a risk of more losses. The main breakdown support for ether is near the $335 zone.<\/p>\n A daily close below the $335 support and then a follow up move below $330 could spark more losses. The next major support is near the $320 level, below which it could revisit $305.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly moving into the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now well below the 40 level, with no clear recovery signs.<\/p>\n Major Support Level \u2013 $335<\/p>\n Major Resistance Level \u2013 $342<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is down over 5% and it broke the key $350 support level against the US Dollar. ETH price is testing the $335 support and it remains at a risk of more losses. Ethereum failed to surpass the main $355 resistance zone, and declined 5%. The price is now trading near the $335 support and it is well below the 100 hourly simple moving average. There was a break below a key contracting triangle with support at $352 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could recover higher as long as buyers are able to protect the $335 support zone. Ethereum Price is Testing Important Support Ethereum made a couple of attempts to clear the $355 resistance zone, but it failed to gain bullish momentum. ETH price topped near the $355 level and recently started a sharp decline (5%). The decline was initiated after there was a break below a key contracting triangle with support at $352 on the hourly chart of ETH\/USD. Ether price gained pace below the $350 support and the 100 hourly simple moving average. The price even spiked below the key $335 support and traded as low as $333. It is currently correcting higher and trading above $335. Ether is currently testing the 23.6% Fib retracement level of the downward move from the $355 high to $333 low. Ethereum price dives 5%. Source: TradingView.com On the upside, the first key resistance is near the $342 level or the 50% Fib retracement level of the downward move from the $355 high to $333 low. The main resistance is now forming near the $350 level and the 100 hourly simple moving average. To start a fresh increase, buyers need to gain strength above the $342 and $350 resistance levels. The key breakout zone is still near the $355 level. Downside Break in ETH? If Ethereum fails to start a decent recovery wave above the $342 resistance, there is a risk of more losses. The main breakdown support for ether is near the $335 zone. A daily close below the $335 support and then a follow up move below $330 could spark more losses. The next major support is near the $320 level, below which it could revisit $305. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving into the bullish zone. Hourly RSI – The RSI for ETH\/USD is now well below the 40 level, with no clear recovery signs. Major Support Level \u2013 $335 Major Resistance Level \u2013 $342<\/p>\n","protected":false},"author":67,"featured_media":440683,"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":[1946,8686,78803],"class_list":["post-440681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price is Testing Important Support<\/h2>\n
Ethereum price dives 5%. Source: TradingView.com<\/a><\/pre>\n
Downside Break in ETH?<\/h2>\n