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{"id":565152,"date":"2023-12-13T04:54:19","date_gmt":"2023-12-13T04:54:19","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=565152"},"modified":"2024-06-11T07:30:26","modified_gmt":"2024-06-11T07:30:26","slug":"ethereum-price-decline-2000","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/news\/ethereum\/ethereum-price-decline-2000\/","title":{"rendered":"Ethereum Price Bears Keep Pushing, Why Decline Isn\u2019t Over Yet"},"content":{"rendered":"

Ethereum price is moving lower below the $2,250 support zone. ETH is now at risk of more downsides below the $2,120 support zone.<\/em><\/p>\n

\n
Ethereum struggled to start a fresh increase above the $2,250 resistance.<\/li>\n
The price is trading below $2,250 and the 100-hourly Simple Moving Average.<\/li>\n
There is a key declining channel forming with resistance near $2,225 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could continue to move down if it declines below the $2,120 support zone.<\/li>\n<\/ul>\n
Ethereum Price Takes Hit<\/h2>\n
Ethereum price attempted a fresh increase above the $2,120 and $2,150 levels. ETH even climbed above the $2,200 level, but the bears were active near the $2,250 level. A high was formed near $2,252 and the price started a fresh decline, like Bitcoin<\/a>.<\/p>\n
There was a move below the $2,200 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $1,980 swing low to the $2,252 high.<\/p>\n
Ethereum is now trading below $2,250 and the 100-hourly Simple Moving Average<\/a>. There is also a key declining channel forming with resistance near $2,225 on the hourly chart of ETH\/USD. If there is a fresh increase, the pair might face resistance near the $2,200 level.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
The next key resistance is near the $2,225 level or the channel trend line. The main resistance is still near $2,250. A clear move above the $2,250 zone could send the price toward the $2,300 level. The next resistance sits at $2,350. Any more gains could start a wave toward the $2,500 level.<\/p>\n
More Losses in ETH?<\/h2>\n
If Ethereum fails to clear the $2,225 resistance, it could continue to move down. Initial support on the downside is near the $2,120 level or the 50% Fib retracement level of the upward move from the $1,980 swing low to the $2,252 high.<\/p>\n
The next key support is $2,045. The main support is now near $2,000. A downside break below $2,000 might start another major decline. In the stated case, Ether could revisit the $1,880 support. Any more losses might call for a test of the $1,820 support zone in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining 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 $2,120<\/p>\n
Major Resistance Level \u2013 $2,225<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is moving lower below the $2,250 support zone. ETH is now at risk of more downsides below the $2,120 support zone. Ethereum struggled to start a fresh increase above the $2,250 resistance. The price is trading below $2,250 and the 100-hourly Simple Moving Average. There is a key declining channel forming with resistance near $2,225 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to move down if it declines below the $2,120 support zone. Ethereum Price Takes Hit Ethereum price attempted a fresh increase above the $2,120 and $2,150 levels. ETH even climbed above the $2,200 level, but the bears were active near the $2,250 level. A high was formed near $2,252 and the price started a fresh decline, like Bitcoin. There was a move below the $2,200 support zone. The price declined below the 23.6% Fib retracement level of the upward move from the $1,980 swing low to the $2,252 high. Ethereum is now trading below $2,250 and the 100-hourly Simple Moving Average. There is also a key declining channel forming with resistance near $2,225 on the hourly chart of ETH\/USD. If there is a fresh increase, the pair might face resistance near the $2,200 level. Source: ETHUSD on TradingView.com The next key resistance is near the $2,225 level or the channel trend line. The main resistance is still near $2,250. A clear move above the $2,250 zone could send the price toward the $2,300 level. The next resistance sits at $2,350. Any more gains could start a wave toward the $2,500 level. More Losses in ETH? If Ethereum fails to clear the $2,225 resistance, it could continue to move down. Initial support on the downside is near the $2,120 level or the 50% Fib retracement level of the upward move from the $1,980 swing low to the $2,252 high. The next key support is $2,045. The main support is now near $2,000. A downside break below $2,000 might start another major decline. In the stated case, Ether could revisit the $1,880 support. Any more losses might call for a test of the $1,820 support zone in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,120 Major Resistance Level \u2013 $2,225<\/p>\n","protected":false},"author":67,"featured_media":461426,"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":[65296,1946,8686,78803],"class_list":["post-565152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Bears Keep Pushing, Why Decline Isn\u2019t Over Yet<\/title>\n<meta name=\"description\" content=\"Ethereum price is moving lower below the $2,250 support zone. 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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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