Ethereum Price Plunge To $2K Imminent as Key Support Line Crumbles<\/title>\n<meta name=\"description\" content=\"Ethereum price extended losses and tested the $2,150 support. ETH is struggling to recover and might continue to move down toward the $2,000 support zone.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-plunge-to-2k-imminent-as-key-support-line-crumbles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Plunge To $2K Imminent as Key Support Line Crumbles\" \/>\n<meta property=\"og:description\" content=\"Ethereum price extended losses and tested the $2,150 support. 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{"id":571084,"date":"2024-01-24T04:50:44","date_gmt":"2024-01-24T04:50:44","guid":{"rendered":"https:\/\/ktsl888.com\/?p=571084"},"modified":"2024-06-11T07:23:59","modified_gmt":"2024-06-11T07:23:59","slug":"ethereum-price-plunge-to-2k-imminent-as-key-support-line-crumbles","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-plunge-to-2k-imminent-as-key-support-line-crumbles\/","title":{"rendered":"Ethereum Price Plunge To $2K Imminent as Key Support Line Crumbles"},"content":{"rendered":"

Ethereum price extended losses and tested the $2,150 support. ETH is struggling to recover and might continue to move down toward the $2,000 support zone.<\/em><\/p>\n

\n
Ethereum started a fresh decline below the $2,350 and $2,250 levels.<\/li>\n
The price is trading below $2,250 and the 100-hourly Simple Moving Average.<\/li>\n
There is a key bearish trend line forming with resistance near $2,240 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair attempt a fresh increase if it clears the $2,240 and $2,280 levels.<\/li>\n<\/ul>\n
Ethereum Price Extends Losses<\/h2>\n
Ethereum price remained in a bearish zone below the $2,400 pivot level. ETH extended its decline and traded below the $2,250 support level, like Bitcoin<\/a>.<\/p>\n
It even spiked below the $2,000 level. A new weekly low was formed near $2,165 and the price is now consolidating losses. There was a minor increase above the $2,220 level. The price tested the 23.6% Fib retracement level of the downward wave from the $2,480 swing high to the $2,165 low.<\/p>\n
Ethereum is now trading below $2,250 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price is facing resistance near the $2,240 level. There is also a key bearish trend line forming with resistance near $2,240 on the hourly chart of ETH\/USD.<\/p>\n
The next hurdle could be $2,280, above which the price could aim for a decent recovery. The next major resistance is now near $2,360 or the 61.8% Fib retracement level of the downward wave from the $2,480 swing high to the $2,165 low.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
A clear move above the $2,360 level might start a decent increase. In the stated case, the price could rise toward the $2,415 level. Any more gains might send the price toward the $2,550 zone.<\/p>\n
More Losses in ETH?<\/h2>\n
If Ethereum fails to clear the $2,440 resistance, it could start another decline. Initial support on the downside is near the $2,200 level.<\/p>\n
The next key support could be the $2,165 zone. A downside break below the $2,165 support might send the price further lower. In the stated case, Ether could test the $2,120 support. Any more losses might send the price toward the $2,000 level.<\/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 $2,165<\/p>\n
Major Resistance Level \u2013 $2,480<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price extended losses and tested the $2,150 support. ETH is struggling to recover and might continue to move down toward the $2,000 support zone. Ethereum started a fresh decline below the $2,350 and $2,250 levels. The price is trading below $2,250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $2,240 on the hourly chart of ETH\/USD (data feed via Kraken). The pair attempt a fresh increase if it clears the $2,240 and $2,280 levels. Ethereum Price Extends Losses Ethereum price remained in a bearish zone below the $2,400 pivot level. ETH extended its decline and traded below the $2,250 support level, like Bitcoin. It even spiked below the $2,000 level. A new weekly low was formed near $2,165 and the price is now consolidating losses. There was a minor increase above the $2,220 level. The price tested the 23.6% Fib retracement level of the downward wave from the $2,480 swing high to the $2,165 low. Ethereum is now trading below $2,250 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $2,240 level. There is also a key bearish trend line forming with resistance near $2,240 on the hourly chart of ETH\/USD. The next hurdle could be $2,280, above which the price could aim for a decent recovery. The next major resistance is now near $2,360 or the 61.8% Fib retracement level of the downward wave from the $2,480 swing high to the $2,165 low. Source: ETHUSD on TradingView.com A clear move above the $2,360 level might start a decent increase. In the stated case, the price could rise toward the $2,415 level. Any more gains might send the price toward the $2,550 zone. More Losses in ETH? If Ethereum fails to clear the $2,440 resistance, it could start another decline. Initial support on the downside is near the $2,200 level. The next key support could be the $2,165 zone. A downside break below the $2,165 support might send the price further lower. In the stated case, Ether could test the $2,120 support. Any more losses might send the price toward the $2,000 level. 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 $2,165 Major Resistance Level \u2013 $2,480<\/p>\n","protected":false},"author":67,"featured_media":457691,"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-571084","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 Plunge To $2K Imminent as Key Support Line Crumbles<\/title>\n<meta name=\"description\" content=\"Ethereum price extended losses and tested the $2,150 support. 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