{"id":633923,"date":"2024-08-08T03:18:25","date_gmt":"2024-08-08T03:18:25","guid":{"rendered":"https:\/\/ktsl888.com\/?p=633923"},"modified":"2024-08-08T02:43:07","modified_gmt":"2024-08-08T02:43:07","slug":"ethereum-price-weakness-2550","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-weakness-2550\/","title":{"rendered":"Ethereum Price Shows Weakness: Can It Overcome The Struggles?"},"content":{"rendered":"<p><em>Ethereum price failed to continue higher above the $2,550 resistance zone. ETH is now consolidating near $2,450 and showing a few bearish signs.<\/em><\/p>\n<ul>\n<li>Ethereum started a recovery wave above the $2,400 and $2,420 levels.<\/li>\n<li>The price is trading below $2,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break below a connecting bullish trend line with support at $2,500 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could rise steadily if it clears the $2,550 resistance zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Struggles Below $2,550<\/h2>\n<p>Ethereum price started a recovery wave above the $2,250 resistance level. ETH climbed above the $2,320 and $2,450 resistance levels like <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-upsides-58k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a> above $65,000.<\/p>\n<p>However, the bears were active near the <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-climb-3550\/\" target=\"_blank\" rel=\"noopener \">$2,550 resistance zone<\/a>. A high was formed at $2,555 before there was a downside correction. The price declined below the $2,450 level. It dipped below the 23.6% Fib retracement level of the upward move from the $1,911 swing low to the $2,555 high.<\/p>\n<p>Besides, there was a break below a connecting bullish trend line with support at $2,500 on the hourly chart of ETH\/USD. The pair tested the $2,320 support and is currently rising.<\/p>\n<p>Ethereum price is still trading below $2,550 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $2,500 level. The first major resistance is near the $2,550 level and the 100-hourly Simple Moving Average.<\/p>\n<figure id=\"attachment_633924\" aria-describedby=\"caption-attachment-633924\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_19dd28.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-633924 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_19dd28.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_19dd28.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_19dd28.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_19dd28.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_19dd28.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_19dd28.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_19dd28.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_19dd28.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-633924\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>A close above the $2,550 level might send Ether toward the $2,685 resistance. The next key resistance is near $2,865. An upside break above the $2,865 resistance might send the price higher toward the $3,000 resistance zone in the near term.<\/p>\n<h2>Another Decline In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near $2,350. The first major support sits near the $2,300 zone.<\/p>\n<p>A clear move below the $2,300 support might push the price toward $2,150 and the 61.8% Fib retracement level of the upward move from the $1,911 swing low to the $2,555 high. Any more losses might send the price toward the $2,120 support level in the near term. The next key support sits at $2,050.<\/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 zone.<\/p>\n<p>Major Support Level \u2013 $2,300<\/p>\n<p>Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price failed to continue higher above the $2,550 resistance zone. ETH is now consolidating near $2,450 and showing a few bearish signs. Ethereum started a recovery wave above the $2,400 and $2,420 levels. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $2,500 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could rise steadily if it clears the $2,550 resistance zone. Ethereum Price Struggles Below $2,550 Ethereum price started a recovery wave above the $2,250 resistance level. ETH climbed above the $2,320 and $2,450 resistance levels like Bitcoin above $65,000. However, the bears were active near the $2,550 resistance zone. A high was formed at $2,555 before there was a downside correction. The price declined below the $2,450 level. It dipped below the 23.6% Fib retracement level of the upward move from the $1,911 swing low to the $2,555 high. Besides, there was a break below a connecting bullish trend line with support at $2,500 on the hourly chart of ETH\/USD. The pair tested the $2,320 support and is currently rising. Ethereum price is still trading below $2,550 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the $2,500 level. The first major resistance is near the $2,550 level and the 100-hourly Simple Moving Average. A close above the $2,550 level might send Ether toward the $2,685 resistance. The next key resistance is near $2,865. An upside break above the $2,865 resistance might send the price higher toward the $3,000 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,550 resistance, it could start another decline. Initial support on the downside is near $2,350. The first major support sits near the $2,300 zone. A clear move below the $2,300 support might push the price toward $2,150 and the 61.8% Fib retracement level of the upward move from the $1,911 swing low to the $2,555 high. Any more losses might send the price toward the $2,120 support level in the near term. The next key support sits at $2,050. 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 zone. Major Support Level \u2013 $2,300 Major Resistance Level \u2013 $2,550<\/p>\n","protected":false},"author":67,"featured_media":633925,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83362],"tags":[65296,1946,8686,78803],"class_list":["post-633923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Shows Weakness: Can It Overcome The Struggles?<\/title>\n<meta name=\"description\" content=\"Ethereum price failed to continue higher above the $2,550 resistance zone. 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