• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum Price ETH
Nexo Logo

TA: Ethereum Dives 15%, Why Close Below $2K Is The Key

Aayush Jindal by Aayush Jindal
4 days ago
in ETH
Reading Time: 2 mins read
Advertisement

Ethereum gained bearish momentum below $2,000 against the US Dollar. ETH even traded below $2,000 and remains at a risk of more losses.

  • Ethereum started a fresh decline below $2,100 and $2,000.
  • The price is now trading below $2,100 and the 100 hourly simple moving average.
  • There was a break below a key bullish trend line with support near $2,250 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to move down if there is a close below the $2,000 support.

Ethereum Price Breaks $2K

Ethereum failed to extend the recovery wave above the $2,400 level. ETH started another decline and traded below the $2,320 support zone.

There was a break below a key bullish trend line with support near $2,250 on the hourly chart of ETH/USD. The pair tumbled below the $2,200 and $2,100 levels. Ether price even broke the $2,000 support zone and settled below the 100 hourly simple moving average.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

It traded towards $1,950 and is currently showing signs of more losses. If there is a recovery wave, the price might face resistance near the $2,050 level.

The 23.6% Fib retracement level of the recent decline from the $2,451 swing high to $1,939 low is also near $2,060. The first major resistance is near the $2,150 level. The main resistance is now forming near the $2,220 level.

Ethereum Price

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
Source: ETHUSD on TradingView.com

The 50% Fib retracement level of the recent decline from the $2,451 swing high to $1,939 low is also near $2,200. A close above the $2,200 level could open the doors for a decent increase. In the stated case, ether price might rise towards the $2,350 resistance.

More Losses in ETH?

If ethereum fails to recover above the $2,200 resistance, it could continue to move down. An initial support on the downside is near the $1,940 zone.

The next major support is near the $1,880 level. A daily close below the $2,000 level might spark more losses below $1,880. In the stated case, the price could dive towards the $1,700 level. The next major support might be near the $1,550 and $1,500 levels in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is well below the 40 level.

Major Support Level – $1,880

Major Resistance Level – $2,200

Tags: ethereumethusdETHUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

TA: Ethereum Reclaims $2K, Why Upsides Could Be Limited Above $2.2K

3 days ago
Ethereum

TA: Ethereum Nears Breakout Zone, Why ETH Might Start Recovery

5 days ago
Ethereum

TA: Ethereum Bears Aim Big After Recent Breakdown Below $2.5K

1 week ago
Ethereum

TA: Ethereum Takes Hit, Why ETH Could Plunge Below $2,700

1 week ago
Ethereum (ETH)

TA: Ethereum Regains Strength But $3K Is Still A Major Hurdle

2 weeks ago
Ethereum

TA: Ethereum Prints Bearish Technical Pattern, Why ETH Could Resume Downtrend

2 weeks ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Can Calyx Token (CLX) outrun PancakeSwap (CAKE)?

May 15, 2022

Double Your Savings With These 3 Cryptos: Klaytn (KLAY), Aave (AAVE), And Pacman Frog (PAC)

May 15, 2022

Avalanche (AVAX), Algorand (ALGO), and Calyx Token (CLX) – 3 Coins To HODL Now

May 15, 2022

At Only 23, Lucas Lee-Tyson Made $8M With a Simple, Boring, Timeless Business

May 15, 2022

Three cryptocurrencies that are potential game-changers: Pac-Man Frog (PAC), ApeCoin (APE), and The Sandbox (SAND)

May 13, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.