{"id":521697,"date":"2023-03-03T05:40:10","date_gmt":"2023-03-03T05:40:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=521697"},"modified":"2024-06-11T11:15:35","modified_gmt":"2024-06-11T11:15:35","slug":"ethereum-price-decline-1535","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-decline-1535\/","title":{"rendered":"Ethereum Price Won&#8217;t Go Down Quietly: Key Supports To Watch 2023-03-03"},"content":{"rendered":"<p><em>Ethereum price declined sharply below $1,600 against the US Dollar. ETH revisited the $1,535 support and the price might start an upside correction.<\/em><\/p>\n<ul>\n<li>Ethereum started a major decline from the $1,665 resistance zone.<\/li>\n<li>The price is trading below $1,600 and the 100 hourly simple moving average.<\/li>\n<li>There was a break below a major bullish trend line with support near $1,625 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could correct higher, but the bears might be active near the $1,600 zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Drops Over 5%<\/h2>\n<p>Ethereum price started a major decline from the $1,665 resistance zone. ETH declined heavily below the $1,620 and $1,600 support levels, similar to <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-plunges-to-21k\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a>.<\/p>\n<p>The price is down over 5% and there was a spike below $1,550. There was also a break below a major bullish trend line with support near $1,625 on the hourly chart of ETH\/USD. A low is formed near $1,542 and the price is now consolidating losses.<\/p>\n<p>The price is now trading near the 23.6% Fib retracement level of the downward move from the $1,677 swing high to $1,542 low.<\/p>\n<p>Ether price is now trading below $1,600 and the <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-vulnerable-1700\/?swcfpc=1\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. On the upside, the price is facing resistance near the $1,590 zone. The first major resistance is near the $1,600 zone. It is near the 50% Fib retracement level of the downward move from the $1,677 swing high to $1,542 low, above which the price might rise steadily. The next major resistance is near the $1,625 zone.<\/p>\n<p><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-2.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-521698\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-2.png?resize=1834%2C845\" alt=\"Ethereum Price\" width=\"1834\" height=\"845\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-2.png?w=1834 1834w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-2.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-2.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-2.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-2.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-2.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/03\/Ethereum-2.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>A close above the $1,625 resistance zone might start a fresh rally. In this case, the price may perhaps rise towards the $1,665 level.<\/p>\n<h2>Fresh Decline in ETH?<\/h2>\n<p>If ethereum fails to clear the $1,600 resistance, it could continue to move down. An initial support on the downside is near the $1,550 level.<\/p>\n<p>The next major support is near the $1,535 zone. If there is a break below $1,535, the price might retest $1,500. Any more losses might call for a test of the $1,420 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now losing momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 30 level.<\/p>\n<p>Major Support Level \u2013 $1,535<\/p>\n<p>Major Resistance Level \u2013 $1,600<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price declined sharply below $1,600 against the US Dollar. ETH revisited the $1,535 support and the price might start an upside correction. Ethereum started a major decline from the $1,665 resistance zone. The price is trading below $1,600 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $1,625 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct higher, but the bears might be active near the $1,600 zone. Ethereum Price Drops Over 5% Ethereum price started a major decline from the $1,665 resistance zone. ETH declined heavily below the $1,620 and $1,600 support levels, similar to bitcoin. The price is down over 5% and there was a spike below $1,550. There was also a break below a major bullish trend line with support near $1,625 on the hourly chart of ETH\/USD. A low is formed near $1,542 and the price is now consolidating losses. The price is now trading near the 23.6% Fib retracement level of the downward move from the $1,677 swing high to $1,542 low. Ether price is now trading below $1,600 and the 100 hourly simple moving average. On the upside, the price is facing resistance near the $1,590 zone. The first major resistance is near the $1,600 zone. It is near the 50% Fib retracement level of the downward move from the $1,677 swing high to $1,542 low, above which the price might rise steadily. The next major resistance is near the $1,625 zone. Source: ETHUSD on TradingView.com A close above the $1,625 resistance zone might start a fresh rally. In this case, the price may perhaps rise towards the $1,665 level. Fresh Decline in ETH? If ethereum fails to clear the $1,600 resistance, it could continue to move down. An initial support on the downside is near the $1,550 level. The next major support is near the $1,535 zone. If there is a break below $1,535, the price might retest $1,500. Any more losses might call for a test of the $1,420 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 30 level. Major Support Level \u2013 $1,535 Major Resistance Level \u2013 $1,600<\/p>\n","protected":false},"author":67,"featured_media":476803,"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":[8323,1946,8686,78803],"class_list":["post-521697","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Won&#039;t Go Down Quietly: Key Supports To Watch 2023-03-03<\/title>\n<meta name=\"description\" content=\"Ethereum price declined sharply below $1,600 against the US Dollar. 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