{"id":634794,"date":"2024-08-12T04:28:40","date_gmt":"2024-08-12T04:28:40","guid":{"rendered":"https:\/\/ktsl888.com\/?p=634794"},"modified":"2024-08-12T04:08:07","modified_gmt":"2024-08-12T04:08:07","slug":"ethereum-price-weakens-2500","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-weakens-2500\/","title":{"rendered":"Ethereum Price Weakens: Can It Defend the $2,500 Level?"},"content":{"rendered":"<p><em>Ethereum price started a downside correction from the $2,700 zone. ETH is now consolidating and struggling to stay above the $2,500 support.<\/em><\/p>\n<ul>\n<li>Ethereum started a downside correction below the $2,650 and $2,620 levels.<\/li>\n<li>The price is trading below $2,650 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break below a connecting bullish trend line with support at $2,620 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could rise again if it stays above the $2,550 support zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Trims Gains And Revisit $2,550<\/h2>\n<p>Ethereum price struggled to extend gains above the $2,700 resistance zone. ETH started a downside correction below the $2,650 level like <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-trims-gains-58k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>. There was a move below the $2,620 and $2,600 levels.<\/p>\n<p>The price declined below the 23.6% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high. Besides, there was a break below a connecting bullish trend line with support at $2,620 on the hourly chart of ETH\/USD.<\/p>\n<p>Ethereum price is now trading below $2,650 and the <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-rises-2550\/\" target=\"_blank\" rel=\"noopener \">100-hourly Simple Moving Average<\/a>. However, the bulls are trying to protect more downsides below the $2,500 support zone.<\/p>\n<p>If there is another increase, the price might face hurdles near the $2,600 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,625 level. A close above the $2,625 level might send Ether toward the $2,700 resistance.<\/p>\n<figure id=\"attachment_634795\" aria-describedby=\"caption-attachment-634795\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_e5cb65.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-634795 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_e5cb65.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_e5cb65.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_e5cb65.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_e5cb65.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_e5cb65.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_e5cb65.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_e5cb65.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/08\/Ethereum_e5cb65.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-634795\" 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>The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,880 resistance zone in the near term.<\/p>\n<h2>More Downsides In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,625 resistance, it could continue to move down. Initial support on the downside is near $2,520 and the 50% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high. The first major support sits near the $2,500 zone.<\/p>\n<p>A clear move below the $2,500 support might push the price toward $2,450. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n<p>Major Support Level \u2013 $2,500<\/p>\n<p>Major Resistance Level \u2013 $2,625<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price started a downside correction from the $2,700 zone. ETH is now consolidating and struggling to stay above the $2,500 support. Ethereum started a downside correction below the $2,650 and $2,620 levels. The price is trading below $2,650 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $2,620 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could rise again if it stays above the $2,550 support zone. Ethereum Price Trims Gains And Revisit $2,550 Ethereum price struggled to extend gains above the $2,700 resistance zone. ETH started a downside correction below the $2,650 level like Bitcoin. There was a move below the $2,620 and $2,600 levels. The price declined below the 23.6% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high. Besides, there was a break below a connecting bullish trend line with support at $2,620 on the hourly chart of ETH\/USD. Ethereum price is now trading below $2,650 and the 100-hourly Simple Moving Average. However, the bulls are trying to protect more downsides below the $2,500 support zone. If there is another increase, the price might face hurdles near the $2,600 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,625 level. A close above the $2,625 level might send Ether toward the $2,700 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,880 resistance zone in the near term. More Downsides In ETH? If Ethereum fails to clear the $2,625 resistance, it could continue to move down. Initial support on the downside is near $2,520 and the 50% Fib retracement level of the upward move from the $2,311 swing low to the $2,722 high. The first major support sits near the $2,500 zone. A clear move below the $2,500 support might push the price toward $2,450. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 zone. Major Support Level \u2013 $2,500 Major Resistance Level \u2013 $2,625<\/p>\n","protected":false},"author":67,"featured_media":634796,"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-634794","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 Weakens: Can It Defend the $2,500 Level?<\/title>\n<meta name=\"description\" content=\"Ethereum price started a downside correction from the $2,700 zone. 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