{"id":482770,"date":"2022-02-03T05:08:57","date_gmt":"2022-02-03T05:08:57","guid":{"rendered":"https:\/\/ktsl888.com\/?p=482770"},"modified":"2024-06-11T14:11:10","modified_gmt":"2024-06-11T14:11:10","slug":"ethereum-sharp-decline-2600","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-sharp-decline-2600\/","title":{"rendered":"TA: Ethereum Below This Support Could Spark Another Sharp Decline"},"content":{"rendered":"
Ethereum failed to clear $2,800 and corrected gains against the US Dollar. ETH price must stay above the $2,600 support to avoid more downsides.<\/em><\/p>\n Ethereum made another attempt to clear the $2,800 resistance zone<\/a>. ETH formed a high near $2,814 and started a fresh decline. There was a clear move below the $2,750 support level.<\/p>\n The price even spiked below the 50% Fib retracement level of the upward move from the $2,478 swing low to $2,815 high. It is now trading near $2,650 and the 100 hourly simple moving average<\/a>. Besides, there was a test of the key $2,600 support level.<\/p>\n Ether price stayed above the 61.8% Fib retracement level of the upward move from the $2,478 swing low to $2,815 high. There is also a crucial bullish trend line forming with support near $2,645 on the hourly chart of ETH\/USD.<\/p>\n An immediate resistance on the upside is near the $2,700 level. The first major resistance is near the $2,750 level. The main resistance for a larger increase is near the $2,800 level. A convincing move above the $2,800 resistance could stage a strong upward move.<\/p>\n <\/a><\/p>\n The next key resistance is near the $2,920 level, above which ether price might rise towards the $3,000 resistance zone in the near term.<\/p>\n If ethereum fails to start a fresh increase above the $2,750 resistance, it could extend decline. An initial support on the downside is near the $2,645 level and the trend line.<\/p>\n A downside break below the trend line support may even push the price below the $2,600 support zone. The next major support is near the $2,500 level, where the bulls might take stand. If they fail, the price could slide to $2,400.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing pace 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 $2,600<\/p>\n Major Resistance Level \u2013 $2,750<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum failed to clear $2,800 and corrected gains against the US Dollar. ETH price must stay above the $2,600 support to avoid more downsides. Ethereum started a downside correction after it failed to surpass the $2,800 resistance. The price is now trading near $2,650 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $2,645 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a major decline if there is a move below $2,645 and $2,600. Ethereum Price Dips Ethereum made another attempt to clear the $2,800 resistance zone. ETH formed a high near $2,814 and started a fresh decline. There was a clear move below the $2,750 support level. The price even spiked below the 50% Fib retracement level of the upward move from the $2,478 swing low to $2,815 high. It is now trading near $2,650 and the 100 hourly simple moving average. Besides, there was a test of the key $2,600 support level. Ether price stayed above the 61.8% Fib retracement level of the upward move from the $2,478 swing low to $2,815 high. There is also a crucial bullish trend line forming with support near $2,645 on the hourly chart of ETH\/USD. An immediate resistance on the upside is near the $2,700 level. The first major resistance is near the $2,750 level. The main resistance for a larger increase is near the $2,800 level. A convincing move above the $2,800 resistance could stage a strong upward move. Source: ETHUSD on TradingView.com The next key resistance is near the $2,920 level, above which ether price might rise towards the $3,000 resistance zone in the near term. Downside Break in ETH? If ethereum fails to start a fresh increase above the $2,750 resistance, it could extend decline. An initial support on the downside is near the $2,645 level and the trend line. A downside break below the trend line support may even push the price below the $2,600 support zone. The next major support is near the $2,500 level, where the bulls might take stand. If they fail, the price could slide to $2,400. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,600 Major Resistance Level \u2013 $2,750<\/p>\n","protected":false},"author":67,"featured_media":457250,"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":[1946,8686,78803],"class_list":["post-482770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Dips<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Downside Break in ETH?<\/h2>\n