Ethereum Price Grinds Lower As Bears Target Fresh Low Below $1,550<\/title>\n<meta name=\"description\" content=\"Ethereum price is facing many hurdles below the $1,700 resistance against the US Dollar. ETH could extend its decline below the $1,580 and $1,550 levels.\" \/>\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-grinds-lower-1550\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Grinds Lower As Bears Target Fresh Low Below $1,550\" \/>\n<meta property=\"og:description\" content=\"Ethereum price is facing many hurdles below the $1,700 resistance against the US Dollar. 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{"id":548499,"date":"2023-08-23T04:06:47","date_gmt":"2023-08-23T04:06:47","guid":{"rendered":"https:\/\/ktsl888.com\/?p=548499"},"modified":"2024-06-11T14:39:46","modified_gmt":"2024-06-11T14:39:46","slug":"ethereum-price-grinds-lower-1550","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-grinds-lower-1550\/","title":{"rendered":"Ethereum Price Grinds Lower As Bears Target Fresh Low Below $1,550"},"content":{"rendered":"

Ethereum price is facing many hurdles below the $1,700 resistance against the US Dollar. ETH could extend its decline below the $1,580 and $1,550 levels.<\/em><\/p>\n

\n
Ethereum is still struggling to recover above the $1,700 and $1,720 levels.<\/li>\n
The price is trading below $1,680 and the 100-hourly Simple Moving Average.<\/li>\n
There is a major bearish trend line forming with resistance near $1,665 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could start another decline if it breaks the $1,580 support in the near term.<\/li>\n<\/ul>\n
Ethereum Price Faces Uphill Task<\/h2>\n
Ethereum\u2019s price failed to climb above the $1,700 resistance zone. ETH started a fresh decline below the $1,650 and $1,620 levels, similar to Bitcoin<\/a>.<\/p>\n
The price even spiked below the $1,600 support and tested $1,580. A low was formed near $1,580 and the price is now attempting a fresh recovery. There was a move above the $1,600 level. The price is now testing the 50% Fib retracement level of the downward move from the $1,693 swing high to the $1,580 low.<\/p>\n
Ether is also trading below $1,680 and the 100-hourly Simple Moving Average<\/a>. Besides, there is a major bearish trend line forming with resistance near $1,665 on the hourly chart of ETH\/USD.<\/p>\n
On the upside, the price might face resistance near the $1,650 level. It is close to the 61.8% Fib retracement level of the downward move from the $1,693 swing high to the $1,580 low. The next resistance is near $1,665 or the 100-hourly Simple Moving Average or the trend line.<\/p>\n
$\"Ethereum$ <\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
The main barrier is still near the $1,700 zone. A close above the $1,700 level could start a decent increase in the near term. The next major resistance is near the $1,750 level. Any more gains might send the price toward the $1,820 resistance.<\/p>\n
Another Drop in ETH?<\/h2>\n
If Ethereum fails to clear the $1,665 resistance, it could start another decline. Initial support on the downside is near the $1,600 level.<\/p>\n
The first major support is near the $1,580 zone. If there is a downside break below $1,580, there could be more losses. The next major support is near the $1,550 support level. Any more losses might send the price toward the $1,520 level or even to a new low below $1,500.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing 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 $1,580<\/p>\n
Major Resistance Level \u2013 $1,665<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is facing many hurdles below the $1,700 resistance against the US Dollar. ETH could extend its decline below the $1,580 and $1,550 levels. Ethereum is still struggling to recover above the $1,700 and $1,720 levels. The price is trading below $1,680 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $1,665 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start another decline if it breaks the $1,580 support in the near term. Ethereum Price Faces Uphill Task Ethereum\u2019s price failed to climb above the $1,700 resistance zone. ETH started a fresh decline below the $1,650 and $1,620 levels, similar to Bitcoin. The price even spiked below the $1,600 support and tested $1,580. A low was formed near $1,580 and the price is now attempting a fresh recovery. There was a move above the $1,600 level. The price is now testing the 50% Fib retracement level of the downward move from the $1,693 swing high to the $1,580 low. Ether is also trading below $1,680 and the 100-hourly Simple Moving Average. Besides, there is a major bearish trend line forming with resistance near $1,665 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,650 level. It is close to the 61.8% Fib retracement level of the downward move from the $1,693 swing high to the $1,580 low. The next resistance is near $1,665 or the 100-hourly Simple Moving Average or the trend line. Source: ETHUSD on TradingView.com The main barrier is still near the $1,700 zone. A close above the $1,700 level could start a decent increase in the near term. The next major resistance is near the $1,750 level. Any more gains might send the price toward the $1,820 resistance. Another Drop in ETH? If Ethereum fails to clear the $1,665 resistance, it could start another decline. Initial support on the downside is near the $1,600 level. The first major support is near the $1,580 zone. If there is a downside break below $1,580, there could be more losses. The next major support is near the $1,550 support level. Any more losses might send the price toward the $1,520 level or even to a new low below $1,500. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $1,580 Major Resistance Level \u2013 $1,665<\/p>\n","protected":false},"author":67,"featured_media":435488,"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-548499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-eth","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Grinds Lower As Bears Target Fresh Low Below $1,550<\/title>\n<meta name=\"description\" content=\"Ethereum price is facing many hurdles below the $1,700 resistance against the US Dollar. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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