{"id":511576,"date":"2022-12-07T23:55:26","date_gmt":"2022-12-08T04:55:26","guid":{"rendered":"https:\/\/ktsl888.com\/?p=511576"},"modified":"2024-06-11T10:07:57","modified_gmt":"2024-06-11T10:07:57","slug":"ethereum-price-nears-breakdown-support-can-bulls-save-the-day","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-nears-breakdown-support-can-bulls-save-the-day\/","title":{"rendered":"Ethereum Price Nears Breakdown Support, Can Bulls Save The Day?"},"content":{"rendered":"<p><em>Ethereum extended its decline below the $1,240 support against the US Dollar. ETH remains at a risk of more losses below the $1,220 support in the near term.<\/em><\/p>\n<ul>\n<li>Ethereum remained in a bearish zone and traded below the $1,240 support.<\/li>\n<li>The price is now trading below $1,250 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $1,245 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair remains at a risk of a downside break below the $1,220 support.<\/li>\n<\/ul>\n<h2>Ethereum Price Visits Key Support<\/h2>\n<p>Ethereum price failed to recover losses and extended its decline below the $1,250 level. ETH even traded below the $1,240 support level and the 100 hourly simple moving average, similar to <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-downtrend-17k\/\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a>.<\/p>\n<p>The price moved into a short-term bearish zone and even tested the $1,220 support. A low is formed near $1,220 and is currently consolidating losses. Ether price is now trading below $1,250 and the <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-risk-bounce-1300\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>.<\/p>\n<p>There is also a key bearish trend line forming with resistance near $1,245 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,235 level. The 23.6% Fib retracement level of the recent drop from the $1,278 swing high to $1,220 low is also near $1,235.<\/p>\n<p>The first major resistance is near the $1,245 level and the bearish trend line. Besides, the 50% Fib retracement level of the recent drop from the $1,278 swing high to $1,220 low and the 100 hourly simple moving average is near the $1,250 level.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/12\/Ethereum-4.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-511577\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/12\/Ethereum-4.png?resize=1834%2C845\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/12\/Ethereum-4.png?w=1834 1834w, https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/12\/Ethereum-4.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/12\/Ethereum-4.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/12\/Ethereum-4.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/12\/Ethereum-4.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/12\/Ethereum-4.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/12\/Ethereum-4.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>A close above the $1,250 resistance might start a fresh increase. The next major resistance is near the $1,280 level, above which ether price could gain bullish momentum for a move to $1,310. Any more gains might send the price towards the $1,350 resistance zone.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If ethereum fails to recover above the $1,250 resistance, it could continue to move down. An initial support on the downside is near the $1,220 level.<\/p>\n<p>The next major support is near the $1,200 level. If there is a break and close below $1,200, the price could even drop towards the $1,165 support. Any more losses could lead the price towards the $1,075 support.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,220<\/p>\n<p>Major Resistance Level \u2013 $1,250<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum extended its decline below the $1,240 support against the US Dollar. ETH remains at a risk of more losses below the $1,220 support in the near term. Ethereum remained in a bearish zone and traded below the $1,240 support. The price is now trading below $1,250 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,245 on the hourly chart of ETH\/USD (data feed via Kraken). The pair remains at a risk of a downside break below the $1,220 support. Ethereum Price Visits Key Support Ethereum price failed to recover losses and extended its decline below the $1,250 level. ETH even traded below the $1,240 support level and the 100 hourly simple moving average, similar to bitcoin. The price moved into a short-term bearish zone and even tested the $1,220 support. A low is formed near $1,220 and is currently consolidating losses. Ether price is now trading below $1,250 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $1,245 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $1,235 level. The 23.6% Fib retracement level of the recent drop from the $1,278 swing high to $1,220 low is also near $1,235. The first major resistance is near the $1,245 level and the bearish trend line. Besides, the 50% Fib retracement level of the recent drop from the $1,278 swing high to $1,220 low and the 100 hourly simple moving average is near the $1,250 level. A close above the $1,250 resistance might start a fresh increase. The next major resistance is near the $1,280 level, above which ether price could gain bullish momentum for a move to $1,310. Any more gains might send the price towards the $1,350 resistance zone. More Losses in ETH? If ethereum fails to recover above the $1,250 resistance, it could continue to move down. An initial support on the downside is near the $1,220 level. The next major support is near the $1,200 level. If there is a break and close below $1,200, the price could even drop towards the $1,165 support. Any more losses could lead the price towards the $1,075 support. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,220 Major Resistance Level \u2013 $1,250<\/p>\n","protected":false},"author":67,"featured_media":464166,"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-511576","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<title>Ethereum Price Nears Breakdown Support, Can Bulls Save The Day?<\/title>\n<meta name=\"description\" content=\"Ethereum extended its decline below the $1,240 support against the US Dollar. 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