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{"id":565761,"date":"2023-12-18T04:48:37","date_gmt":"2023-12-18T04:48:37","guid":{"rendered":"https:\/\/ktsl888.com\/?p=565761"},"modified":"2024-06-11T07:18:50","modified_gmt":"2024-06-11T07:18:50","slug":"ethereum-price-correction-2k","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-correction-2k\/","title":{"rendered":"Ethereum Price Key Indicators Suggest Strong Case For Correction Below $2K"},"content":{"rendered":"

Ethereum price is again moving lower below the $2,200 support. ETH is showing a few bearish signs and might decline further below $2,000.<\/em><\/p>\n

\n
Ethereum started a fresh decline from the $2,330 resistance zone.<\/li>\n
The price is trading below $2,220 and the 100-hourly Simple Moving Average.<\/li>\n
There is a connecting bearish trend line forming with resistance near $2,210 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could accelerate lower if there is a break below the $2,135 support.<\/li>\n<\/ul>\n
Ethereum Price Dips Again<\/h2>\n
Ethereum price failed to gain strength for more gains above the $2,300 resistance. ETH peaked near the $2,330 zone and started a fresh decline, like Bitcoin<\/a>.<\/p>\n
There was a move below the $2,250 and $2,220 levels. The price even dropped below the 50% Fib retracement level of the key increase from the $1,980 swing low to the $2,330 high. The bears are now in control below the $2,180 support zone.<\/p>\n
Ethereum is trading below $2,220 and the 100-hourly Simple Moving Average<\/a>. There is also a connecting bearish trend line forming with resistance near $2,210 on the hourly chart of ETH\/USD.<\/p>\n
If there is a fresh increase, the price could face resistance near the $2,200 zone. The next key resistance is near the $2,210 level and the trend line. The main resistance is now at $2,250. A clear move above the $2,250 zone could send the price toward the $2,330 level.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
The next resistance sits at $2,400. Any more gains could start a wave toward the $2,550 level, above which Ethereum might rally and test the $2,750 zone.<\/p>\n
More Losses in ETH?<\/h2>\n
If Ethereum fails to clear the $2,210 resistance, it could continue to move down. Initial support on the downside is near the $2,135 level or the last swing low.<\/p>\n
The first key support could be the $2,080 zone. It is close to the 1.236 Fib extension level of the key increase from the $1,980 swing low to the $2,330 high. A downside break below $2,080 might start another major decline. In the stated case, Ether could even decline below the $2,000 support.<\/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 $2,135<\/p>\n
Major Resistance Level \u2013 $2,210<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is again moving lower below the $2,200 support. ETH is showing a few bearish signs and might decline further below $2,000. Ethereum started a fresh decline from the $2,330 resistance zone. The price is trading below $2,220 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance near $2,210 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could accelerate lower if there is a break below the $2,135 support. Ethereum Price Dips Again Ethereum price failed to gain strength for more gains above the $2,300 resistance. ETH peaked near the $2,330 zone and started a fresh decline, like Bitcoin. There was a move below the $2,250 and $2,220 levels. The price even dropped below the 50% Fib retracement level of the key increase from the $1,980 swing low to the $2,330 high. The bears are now in control below the $2,180 support zone. Ethereum is trading below $2,220 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance near $2,210 on the hourly chart of ETH\/USD. If there is a fresh increase, the price could face resistance near the $2,200 zone. The next key resistance is near the $2,210 level and the trend line. The main resistance is now at $2,250. A clear move above the $2,250 zone could send the price toward the $2,330 level. Source: ETHUSD on TradingView.com The next resistance sits at $2,400. Any more gains could start a wave toward the $2,550 level, above which Ethereum might rally and test the $2,750 zone. More Losses in ETH? If Ethereum fails to clear the $2,210 resistance, it could continue to move down. Initial support on the downside is near the $2,135 level or the last swing low. The first key support could be the $2,080 zone. It is close to the 1.236 Fib extension level of the key increase from the $1,980 swing low to the $2,330 high. A downside break below $2,080 might start another major decline. In the stated case, Ether could even decline below the $2,000 support. 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 $2,135 Major Resistance Level \u2013 $2,210<\/p>\n","protected":false},"author":67,"featured_media":541922,"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-565761","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 Key Indicators Suggest Strong Case For Correction Below $2K<\/title>\n<meta name=\"description\" content=\"Ethereum price is again moving lower below the $2,200 support. 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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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