{"id":522415,"date":"2023-03-09T08:48:26","date_gmt":"2023-03-09T08:48:26","guid":{"rendered":"https:\/\/ktsl888.com\/?p=522415"},"modified":"2024-06-11T14:34:09","modified_gmt":"2024-06-11T14:34:09","slug":"ethereum-price-is-plunging-1500","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-is-plunging-1500\/","title":{"rendered":"Ethereum Price is Plunging, But It&#8217;s Too Early to Say Bulls Have Given Up"},"content":{"rendered":"<p><em>Ethereum price is moving lower below $1,600 against the US Dollar. ETH must stay above the $1,500 support zone to start a recovery wave.<\/em><\/p>\n<ul>\n<li>Ethereum is eyeing an upside break above the $1,560 and $1,580 resistance levels.<\/li>\n<li>The price is trading below $1,560 and the 100 hourly simple moving average.<\/li>\n<li>There is a connecting bearish trend line forming with resistance near $1,550 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could correct higher if there is a move above the $1,560 resistance zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Extends Losses<\/h2>\n<p>Ethereum price failed to clear the <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-bears-in-action-1580\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">$1,580 and $1,600 resistance levels<\/a>. ETH formed a high near $1,565 and recently started a fresh decline. There was a move below the $1,545 support zone.<\/p>\n<p>The price traded as low as $1,525 and the bulls were active above the $1,500 level. It is now consolidating losses below $1,560 and the 100 hourly simple moving average. Ether price corrected a few points above the $1,540 resistance zone.<\/p>\n<p>It cleared the 23.6% Fib retracement level of the downward move from the $1,565 swing high to $1,525 low. On the upside, the price is facing resistance near the $1,550 zone. There is also a connecting <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-increase-1600\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">bearish trend line<\/a> forming with resistance near $1,550 on the hourly chart of ETH\/USD.<\/p>\n<p>The first major resistance is near the $1,560 zone. It is near the 76.4% Fib retracement level of the downward move from the $1,565 swing high to $1,525 low.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-6.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-522416\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-6.png?resize=1834%2C845\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-6.png?w=1834 1834w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-6.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-6.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-6.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-6.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-6.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-6.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>The next major resistance is near the $1,575 level, above which the price might start a decent increase. The next major resistance is near the $1,600 zone. A close above the $1,600 resistance zone might start a major upward move. In this case, the price may perhaps rise towards the $1,650 level.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If ethereum fails to clear the $1,560 resistance, it could start another decline. An initial support on the downside is near the $1,525 level.<\/p>\n<p>The next major support is near the $1,500 zone. If there is a break below $1,500, the price might drop towards $1,435. Any more losses might call for a test of the $1,400 level.<\/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 $1,500<\/p>\n<p>Major Resistance Level \u2013 $1,560<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is moving lower below $1,600 against the US Dollar. ETH must stay above the $1,500 support zone to start a recovery wave. Ethereum is eyeing an upside break above the $1,560 and $1,580 resistance levels. The price is trading below $1,560 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $1,550 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct higher if there is a move above the $1,560 resistance zone. Ethereum Price Extends Losses Ethereum price failed to clear the $1,580 and $1,600 resistance levels. ETH formed a high near $1,565 and recently started a fresh decline. There was a move below the $1,545 support zone. The price traded as low as $1,525 and the bulls were active above the $1,500 level. It is now consolidating losses below $1,560 and the 100 hourly simple moving average. Ether price corrected a few points above the $1,540 resistance zone. It cleared the 23.6% Fib retracement level of the downward move from the $1,565 swing high to $1,525 low. On the upside, the price is facing resistance near the $1,550 zone. There is also a connecting bearish trend line forming with resistance near $1,550 on the hourly chart of ETH\/USD. The first major resistance is near the $1,560 zone. It is near the 76.4% Fib retracement level of the downward move from the $1,565 swing high to $1,525 low. Source: ETHUSD on TradingView.com The next major resistance is near the $1,575 level, above which the price might start a decent increase. The next major resistance is near the $1,600 zone. A close above the $1,600 resistance zone might start a major upward move. In this case, the price may perhaps rise towards the $1,650 level. More Losses in ETH? If ethereum fails to clear the $1,560 resistance, it could start another decline. An initial support on the downside is near the $1,525 level. The next major support is near the $1,500 zone. If there is a break below $1,500, the price might drop towards $1,435. Any more losses might call for a test of the $1,400 level. 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 $1,500 Major Resistance Level \u2013 $1,560<\/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-522415","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 is Plunging, But It&#039;s Too Early to Say Bulls Have Given Up<\/title>\n<meta name=\"description\" content=\"Ethereum price is moving lower below $1,600 against the US Dollar. 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