• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Play FinanceTry
  • Claim 7 BTCTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Bitfinex And Crypto Bank OrionX Forged Partnership To Broaden Presence In Latin America
Ethereum

Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1.8K

Aayush Jindal by Aayush Jindal
2 months ago
in ETH
Reading Time: 2 mins read

Ethereum price started a fresh decline from the $1,860 resistance against the US Dollar. ETH could move down below $1,730 if it stays below $1,800 for a long time.

  • Ethereum started a downside correction below $1,800 and $1,780.
  • The price is trading below $1,780 and the 100 hourly simple moving average.
  • There was a break above a connecting bearish trend line with resistance near $1,760 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could extend its decline if it stays below $1,800 and $1,820 for a long time.

Ethereum Price Faces Hurdle

Ethereum price remained well below the $1,860 level. ETH reacted to the downside and traded below the $1,800 support zone. It even declined below $1,750 before the bulls appeared near $1,720.

A low was formed near $1,715 before the price started a fresh increase, similar to bitcoin. The price gained pace above the $1,730 and $1,750 resistance levels. There was a move above the 50% Fib retracement level of the downward move from the $1,858 swing high to $1,715 low.

Besides, there was a break above a connecting bearish trend line with resistance near $1,760 on the hourly chart of ETH/USD. Ether price is now trading near $1,770 and the 100 hourly simple moving average.

On the upside, the price is facing resistance near the $1,785 zone. The next major resistance is near the $1,800 zone. It is near the 61.8% Fib retracement level of the downward move from the $1,858 swing high to $1,715 low. A close above the $1,800 resistance zone might start a strong increase.

Ethereum Price

Source: ETHUSD on TradingView.com

The next aim for the bulls might be $1,860. Any more gains could set the pace for a test of the $2,000 resistance zone in the near term.

Fresh Decline in ETH?

If ethereum fails to clear the $1,800 resistance, it could start another decline. An initial support on the downside is near the $1,745 level.

The next major support is near the $1,730 zone or $1,715. If there is a break below $1,715, the price might gain bearish momentum and drop towards $1,650. Any more losses might call for a test of the $1,580 level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now losing momentum in the bullish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $1,730

Major Resistance Level – $1,800

Tags: ETHethereumethusdETHUSDT
Tweet123Share196ShareSend
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies, and Financial Market Strategist. He specializes in market strategies and technical analysis and has spent over 15 years as a financial markets contributor and observer. He also founded an IT company and works rigorously in providing high-quality software services. Aayush possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin, and Ethereum markets. Follow him on Twitter @AayushJs.

Related Posts

Ethereum

Ethereum Price Smashes Resistance, $1,900 Could Be Next

2 days ago
Ethereum Price ETH

Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1,920

3 days ago
TA: Ethereum Key Indicators Suggest Strengthening Case For More Upsides

Ethereum Price is Primed For a Rally And Only 1 Thing is Holding it Back

4 days ago
Ethereum Price

Ethereum Price Key Indicators Suggest A Strengthening Case For Surge To $2K

5 days ago
Ethereum

Ethereum Price Gearing For Another Lift-Off to $2K: Recovery Isn’t Over Yet

6 days ago
Ethereum Price

Ethereum Price Could See “Liftoff” If ETH Clears This Resistance

1 week ago

Premium Partners

Play Finance

Now Trending

  • Potential 20x+ Crypto Presales 2023

    4 days ago
  • Willing to buy new crypto: Here are the best 10...

    4 days ago
  • Best Crypto Meme Coin Presales in 2023

    4 days ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

  • Avalanche price at important support level, Quant price to...

    42 mins ago
  • Looking for the next Crypto That Could 100x? Check...

    53 mins ago
  • Tradecurve (TCRV) Presale Bonus Attracts More Investors As...

    1 hour ago
  • XRP and Big Eyes Coin (BIG): Riding the FOMO Wave in the...

    1 hour ago
  • The Upturn of DOGE: Fueling the Potential of Meme Coins...

    2 hours ago

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.

Cryptocurrency news

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

Technical Analysis

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

Company

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

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Play Casino Games
  • Play Finance
  • Claim 7 BTC

© 2023 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.