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{"id":518050,"date":"2023-01-31T05:10:42","date_gmt":"2023-01-31T05:10:42","guid":{"rendered":"https:\/\/ktsl888.com\/?p=518050"},"modified":"2024-06-11T08:12:16","modified_gmt":"2024-06-11T08:12:16","slug":"ethereum-price-support-1515","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-support-1515\/","title":{"rendered":"Ethereum Price Won’t Go Down Quietly: Key Supports To Watch"},"content":{"rendered":"

Ethereum started another downside correction below $1,600 against the US Dollar. ETH is trading above $1,550, but it might face resistance near $1,600.<\/em><\/p>\n

\n
Ethereum is correcting gains from the $1,650 and $1,660 levels.<\/li>\n
The price is now trading below $1,620 and the 100 hourly simple moving average.<\/li>\n
There was a break below a major bullish trend line with support at $1,575 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could attempt a fresh increase if there is a clear move above the $1,600 resistance.<\/li>\n<\/ul>\n
Ethereum Price Starts Correction<\/h2>\n
Ethereum price made another attempt to clear the $1,660 resistance zone. However, ETH failed to surpass the $1,660 and started a downside correction, similar to bitcoin<\/a>.<\/p>\n
There was a move below the $1,640 and $1,620 support levels. There was also a break below a major bullish trend line with support at $1,575 on the hourly chart of ETH\/USD. The pair even spiked below the $1,550 level and traded as low as $1,530.<\/p>\n
Ether price is now trading below $1,620 and the 100 hourly simple moving average<\/a>. There was a minor recovery wave above the $1,550 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $1,659 swing high to $1,530 low.<\/p>\n
An immediate resistance is near the $1,580 level. The next major resistance is near the $1,600 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the downward move from the $1,659 swing high to $1,530 low.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
An upside break above the $1,600 resistance zone could start a decent increase. In the stated case, the price may perhaps rise towards the $1,660 resistance. Any more gains might send ether towards the $1,720 level.<\/p>\n
More Dips in ETH?<\/h2>\n
If ethereum fails to clear the $1,600 resistance, it could continue to move down. An initial support on the downside is near the $1,550 level.<\/p>\n
The next major support is near the $1,515 level. If there is a break below $1,515, the price might drop towards the $1,450 support. Any more losses might call for a retest of the $1,320 zone in the near term.<\/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 $1,515<\/p>\n
Major Resistance Level \u2013 $1,600<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum started another downside correction below $1,600 against the US Dollar. ETH is trading above $1,550, but it might face resistance near $1,600. Ethereum is correcting gains from the $1,650 and $1,660 levels. The price is now trading below $1,620 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support at $1,575 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could attempt a fresh increase if there is a clear move above the $1,600 resistance. Ethereum Price Starts Correction Ethereum price made another attempt to clear the $1,660 resistance zone. However, ETH failed to surpass the $1,660 and started a downside correction, similar to bitcoin. There was a move below the $1,640 and $1,620 support levels. There was also a break below a major bullish trend line with support at $1,575 on the hourly chart of ETH\/USD. The pair even spiked below the $1,550 level and traded as low as $1,530. Ether price is now trading below $1,620 and the 100 hourly simple moving average. There was a minor recovery wave above the $1,550 level. The price climbed above the 23.6% Fib retracement level of the downward move from the $1,659 swing high to $1,530 low. An immediate resistance is near the $1,580 level. The next major resistance is near the $1,600 level and the 100 hourly simple moving average. It is close to the 50% Fib retracement level of the downward move from the $1,659 swing high to $1,530 low. Source: ETHUSD on TradingView.com An upside break above the $1,600 resistance zone could start a decent increase. In the stated case, the price may perhaps rise towards the $1,660 resistance. Any more gains might send ether towards the $1,720 level. More Dips in ETH? If ethereum fails to clear the $1,600 resistance, it could continue to move down. An initial support on the downside is near the $1,550 level. The next major support is near the $1,515 level. If there is a break below $1,515, the price might drop towards the $1,450 support. Any more losses might call for a retest of the $1,320 zone in the near term. 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 $1,515 Major Resistance Level \u2013 $1,600<\/p>\n","protected":false},"author":67,"featured_media":512847,"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-518050","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Won't Go Down Quietly: Key Supports To Watch<\/title>\n<meta name=\"description\" content=\"Ethereum started another downside correction below $1,600 against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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