ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\nThe first major resistance is near the $2,550 level. A close above the $2,550 level might send Ether toward the $2,620 resistance. The next key resistance is near $2,660. An upside break above the $2,660 resistance might send the price higher toward the $2,800 resistance zone in the near term.<\/p>\n
More Downsides In ETH?<\/h2>\n If Ethereum fails to clear the $2,500 resistance, it could start another decline. Initial support on the downside is near $2,420. The first major support sits near the $2,400 zone.<\/p>\n
A clear move below the $2,400 support might push the price toward $2,320 where the bulls could emerge. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,110.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\nHourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\nMajor Support Level \u2013 $2,400<\/p>\n
Major Resistance Level \u2013 $2,500<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price started another decline below the $2,550 support. ETH could dive toward the $2,250 support zone before the bulls emerge. Ethereum started a fresh decline below the $2,550 level. The price is trading below $2,500 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,500 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above $2,400 to start another increase in the near term. Ethereum Price Extends Losses Ethereum price failed to stay above the $2,620 support and extended losses. ETH traded below the $2,550 and $2,500 support levels like Bitcoin. It even tested the $2,400 support. A low was formed near $2,401 and the price is now attempting a recovery wave. There was a move above the $2,420 level. The price is testing the 23.6% Fib retracement level of the downward wave from the $2,596 swing high to the $2,401 low. Ethereum price is now trading below $2,500 and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $2,500 on the hourly chart of ETH\/USD. On the upside, the price seems to be facing hurdles near the $2,500 level and the 100-hourly Simple Moving Average. It is close to the 50% Fib retracement level of the downward wave from the $2,596 swing high to the $2,401 low. The first major resistance is near the $2,550 level. A close above the $2,550 level might send Ether toward the $2,620 resistance. The next key resistance is near $2,660. An upside break above the $2,660 resistance might send the price higher toward the $2,800 resistance zone in the near term. More Downsides In ETH? If Ethereum fails to clear the $2,500 resistance, it could start another decline. Initial support on the downside is near $2,420. The first major support sits near the $2,400 zone. A clear move below the $2,400 support might push the price toward $2,320 where the bulls could emerge. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,110. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 zone. Major Support Level \u2013 $2,400 Major Resistance Level \u2013 $2,500<\/p>\n","protected":false},"author":67,"featured_media":639124,"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-639122","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
Ethereum Price Eyes Downside Thrust: Will It Slip Further?<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n