{"id":466481,"date":"2021-06-30T05:28:20","date_gmt":"2021-06-30T05:28:20","guid":{"rendered":"https:\/\/ktsl888.com\/?p=466481"},"modified":"2024-06-11T13:56:40","modified_gmt":"2024-06-11T13:56:40","slug":"ethereum-corrects-lower-2k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-corrects-lower-2k\/","title":{"rendered":"TA: Ethereum Corrects Lower, What Could Spark A Fresh Rally"},"content":{"rendered":"
Ethereum rallied further towards $2,250 before it faced sellers against the US Dollar. ETH price is correcting lower, but the bulls are likely to remain active near $2,000.<\/em><\/p>\n Ethereum remained well bid above the $2,000 support zone<\/a> and it extended its upward move. ETH surpassed the $2,150 resistance zone and the 100 hourly simple moving average.<\/p>\n The price even climbed above the $2,200 level. Ether tested the $2,240 zone before the bears appeared. A high was formed near $2,241 before it started a downside correction. There was a break below the $2,200 support zone.<\/p>\n There was also a break below a connecting bullish trend line<\/a> with support near $2,160 on the hourly chart of ETH\/USD. The pair is now testing the 23.6% Fib retracement level of the of the upward move from the $1,716 swing low to $2,241 high.<\/p>\n <\/a><\/p>\n The next major support is near the $2,070 level, followed by the 100 hourly SMA. There is also a major bullish trend lien forming with support near $1,975 on the same chart. The trend line is close to the 50% Fib retracement level of the of the upward move from the $1,716 swing low to $2,241 high.<\/p>\n Any more losses could spark a steady decline below $1,950. The next major support on the downside is near the $1,850 level.<\/p>\n If Ethereum remains above the trend line support and $1,950, it could start a fresh increase. An immediate resistance on the upside is near the $2,200 level.<\/p>\n The next key resistance is near the $2,250 zone. Any more gains could set the pace for a move towards the $2,320 level. In the stated case, the bulls might even aim a test of $2,500 in the near term.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is currently just below the 50 level.<\/p>\n Major Support Level \u2013 $2,000<\/p>\n Major Resistance Level \u2013 $2,250<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum rallied further towards $2,250 before it faced sellers against the US Dollar. ETH price is correcting lower, but the bulls are likely to remain active near $2,000. Ethereum started a downside correction after it tested the $2,250 resistance zone. The price is still well above $2,000 and the 100 hourly simple moving average. There is a major bullish trend lien forming with support near $1,975 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could dip in the short-term, but the bulls might protect the $2,000 support zone. Ethereum Price Remains Supported Ethereum remained well bid above the $2,000 support zone and it extended its upward move. ETH surpassed the $2,150 resistance zone and the 100 hourly simple moving average. The price even climbed above the $2,200 level. Ether tested the $2,240 zone before the bears appeared. A high was formed near $2,241 before it started a downside correction. There was a break below the $2,200 support zone. There was also a break below a connecting bullish trend line with support near $2,160 on the hourly chart of ETH\/USD. The pair is now testing the 23.6% Fib retracement level of the of the upward move from the $1,716 swing low to $2,241 high. Source: ETHUSD on TradingView.com The next major support is near the $2,070 level, followed by the 100 hourly SMA. There is also a major bullish trend lien forming with support near $1,975 on the same chart. The trend line is close to the 50% Fib retracement level of the of the upward move from the $1,716 swing low to $2,241 high. Any more losses could spark a steady decline below $1,950. The next major support on the downside is near the $1,850 level. Fresh Increase in ETH? If Ethereum remains above the trend line support and $1,950, it could start a fresh increase. An immediate resistance on the upside is near the $2,200 level. The next key resistance is near the $2,250 zone. Any more gains could set the pace for a move towards the $2,320 level. In the stated case, the bulls might even aim a test of $2,500 in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is currently just below the 50 level. Major Support Level \u2013 $2,000 Major Resistance Level \u2013 $2,250<\/p>\n","protected":false},"author":67,"featured_media":461823,"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-466481","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 Remains Supported<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in ETH?<\/h2>\n