{"id":500315,"date":"2022-08-29T04:28:49","date_gmt":"2022-08-29T04:28:49","guid":{"rendered":"https:\/\/ktsl888.com\/?p=500315"},"modified":"2024-06-11T14:23:06","modified_gmt":"2024-06-11T14:23:06","slug":"ethereum-dives-below-1500","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-dives-below-1500\/","title":{"rendered":"TA: Ethereum Dives Below $1,500, Why Recovery Could Be Capped"},"content":{"rendered":"
Ethereum started a major decline below the $1,600 zone against the US Dollar. ETH even declined below $1,500 and now any recovery could face hurdles.<\/em><\/p>\n Ethereum failed to gain pace above the $1,660 and $1,675 resistance levels<\/a>. ETH started a fresh decline and traded below the key $1,600 support zone.<\/p>\n It opened the doors for a move below the $1,550 and $1,500 support levels. Ether price even settled below the $1,500 level and the 100 hourly simple moving average. A low was formed near the $1,423 level and the price is now correcting losses.<\/p>\n An immediate resistance on the upside is near the $1,460 level. The first major resistance is now forming near the $1,480 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,707 swing high to $1,423 low.<\/p>\n There is also a key bearish trend line forming with resistance near $1,480 on the hourly chart of ETH\/USD. The next major resistance is near the $1,540 level and the 100 hourly simple moving average<\/a>.<\/p>\n <\/a><\/p>\n The 50% Fib retracement level of the recent decline from the $1,707 swing high to $1,423 low is also near the $1,565 level. A clear move above the $1,565 level might send the price towards $1,600 resistance. Any more gains may perhaps open the doors for a test of the $1,650 resistance.<\/p>\n If ethereum fails to rise above the $1,480 resistance, it could continue to move down. An initial support on the downside is near the $1,425 zone.<\/p>\n The next major support is near $1,400, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,320 level. Any more losses may perhaps send the price towards the $1,250 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n Major Support Level \u2013 $1,425<\/p>\n Major Resistance Level \u2013 $1,480<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started a major decline below the $1,600 zone against the US Dollar. ETH even declined below $1,500 and now any recovery could face hurdles. Ethereum extended its drop below the $1,600 and $1,500 levels. The price is now trading below $1,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,480 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct higher, but upsides might be limited above $1,500. Ethereum Price Takes Hit Ethereum failed to gain pace above the $1,660 and $1,675 resistance levels. ETH started a fresh decline and traded below the key $1,600 support zone. It opened the doors for a move below the $1,550 and $1,500 support levels. Ether price even settled below the $1,500 level and the 100 hourly simple moving average. A low was formed near the $1,423 level and the price is now correcting losses. An immediate resistance on the upside is near the $1,460 level. The first major resistance is now forming near the $1,480 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,707 swing high to $1,423 low. There is also a key bearish trend line forming with resistance near $1,480 on the hourly chart of ETH\/USD. The next major resistance is near the $1,540 level and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com The 50% Fib retracement level of the recent decline from the $1,707 swing high to $1,423 low is also near the $1,565 level. A clear move above the $1,565 level might send the price towards $1,600 resistance. Any more gains may perhaps open the doors for a test of the $1,650 resistance. More Losses in ETH? If ethereum fails to rise above the $1,480 resistance, it could continue to move down. An initial support on the downside is near the $1,425 zone. The next major support is near $1,400, below which ether price might accelerate lower. In the stated case, the price may perhaps decline towards the $1,320 level. Any more losses may perhaps send the price towards the $1,250 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,425 Major Resistance Level \u2013 $1,480<\/p>\n","protected":false},"author":67,"featured_media":487709,"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":[8323,1946,8686,78803],"class_list":["post-500315","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Takes Hit<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n