{"id":566091,"date":"2023-12-20T04:51:44","date_gmt":"2023-12-20T04:51:44","guid":{"rendered":"https:\/\/ktsl888.com\/?p=566091"},"modified":"2024-06-11T14:43:29","modified_gmt":"2024-06-11T14:43:29","slug":"ethereum-price-drop-2120","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-drop-2120\/","title":{"rendered":"Ethereum Price Close Below $2,120 Could Spark Larger Degree Decline"},"content":{"rendered":"<p><em>Ethereum price is struggling to climb again above $2,200 and $2,250. ETH could gain bearish momentum if there is a clear move below the $2,120 support.<\/em><\/p>\n<ul>\n<li>Ethereum is struggling to gain pace for a move above the $2,150 resistance zone.<\/li>\n<li>The price is trading below $2,200 and the 100-hourly Simple Moving Average.<\/li>\n<li>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<li>The pair could climb further higher if it clears the $2,210 resistance zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Faces Hurdles<\/h2>\n<p>Ethereum price attempted a fresh increase above the $2,200 level. However, ETH failed to gain pace for a move above the $2,250 resistance. A high was formed near $2,253 and the price started a fresh decline, like <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-rejects-43-5k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>.<\/p>\n<p>There was a drop below $2,200. A low was formed near $2,136 and the price is now attempting a fresh increase. There was a move above the $2,180 level. The price tested the 50% Fib retracement level of the recent decline from the $2,253 swing high to the $2,136 low.<\/p>\n<p>Ethereum is now trading below $2,200 and the <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-restarts-increase-2250\/\" target=\"_blank\" rel=\"noopener \">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<p>On the upside, the price is facing resistance near the $2,205 level. It is close to the 61.8% Fib retracement level of the recent decline from the $2,253 swing high to the $2,136 low.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Ethereum-11.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-566092\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Ethereum-11.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Ethereum-11.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Ethereum-11.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Ethereum-11.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Ethereum-11.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Ethereum-11.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Ethereum-11.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/12\/Ethereum-11.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 key resistance is near the $2,220 level or the trend line. The main resistance is still near $2,250. A clear move above the $2,250 zone could send the price toward the $2,320 level. The next resistance sits at $2,350. Any more gains could start a wave toward the $2,420 level, above which Ethereum might rally and test the $2,550 zone.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,210 resistance, it could start another decline. Initial support on the downside is near the $2,165 level.<\/p>\n<p>The first key support could be the $2,120 zone. A downside break and a close below $2,120 might start another major decline. In the stated case, Ether could revisit the $2,000 support. Any more losses might send the price toward the $1,880 level in the coming days.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,120<\/p>\n<p>Major Resistance Level \u2013 $2,250<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is struggling to climb again above $2,200 and $2,250. ETH could gain bearish momentum if there is a clear move below the $2,120 support. Ethereum is struggling to gain pace for a move above the $2,150 resistance zone. The price is trading below $2,200 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 climb further higher if it clears the $2,210 resistance zone. Ethereum Price Faces Hurdles Ethereum price attempted a fresh increase above the $2,200 level. However, ETH failed to gain pace for a move above the $2,250 resistance. A high was formed near $2,253 and the price started a fresh decline, like Bitcoin. There was a drop below $2,200. A low was formed near $2,136 and the price is now attempting a fresh increase. There was a move above the $2,180 level. The price tested the 50% Fib retracement level of the recent decline from the $2,253 swing high to the $2,136 low. Ethereum is now trading below $2,200 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. On the upside, the price is facing resistance near the $2,205 level. It is close to the 61.8% Fib retracement level of the recent decline from the $2,253 swing high to the $2,136 low. Source: ETHUSD on TradingView.com The next key resistance is near the $2,220 level or the trend line. The main resistance is still near $2,250. A clear move above the $2,250 zone could send the price toward the $2,320 level. The next resistance sits at $2,350. Any more gains could start a wave toward the $2,420 level, above which Ethereum might rally and test the $2,550 zone. More Losses in ETH? If Ethereum fails to clear the $2,210 resistance, it could start another decline. Initial support on the downside is near the $2,165 level. The first key support could be the $2,120 zone. A downside break and a close below $2,120 might start another major decline. In the stated case, Ether could revisit the $2,000 support. Any more losses might send the price toward the $1,880 level in the coming days. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $2,120 Major Resistance Level \u2013 $2,250<\/p>\n","protected":false},"author":67,"featured_media":457355,"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-566091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Close Below $2,120 Could Spark Larger Degree Decline<\/title>\n<meta name=\"description\" content=\"Ethereum price is struggling to climb again above $2,200 and $2,250. 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