{"id":125572,"date":"2023-07-21T13:03:50","date_gmt":"2023-07-21T13:03:50","guid":{"rendered":"https:\/\/dripp.zone\/news\/will-ongoing-correction-push-eth-price-below-1800-crypto-news\/"},"modified":"2023-07-21T13:03:53","modified_gmt":"2023-07-21T13:03:53","slug":"will-ongoing-correction-push-eth-price-below-1800-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-ongoing-correction-push-eth-price-below-1800-crypto-news\/","title":{"rendered":"Will Ongoing Correction Push $ETH Price Below $1800?\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-154912\">\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"681\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/21181212\/3YO46D0C-e1689943355849.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Ethereum Price Analysis\" decoding=\"async\" srcset=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/21181212\/3YO46D0C-e1689943355849.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/21181212\/3YO46D0C-e1689943355849-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/21181212\/3YO46D0C-e1689943355849-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/21181212\/3YO46D0C-e1689943355849-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 9 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Ethereum Price Analysis: Despite the current volatility in the cryptocurrency market, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/ethereum\/\">ether price<\/a> has demonstrated impressive recovery, consistently adhering to the diverging trendlines of broadening channel patterns.  This pattern developed signals a period of increased volatility and indecision between buyers and sellers.  Thus, interested traders can grab a direct trade in the second-largest cryptocurrency for this chart setup&#8217;s maturity.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/ethereum-price-dump-incoming-eth-cexs-inflows-hits-2-month-high\/\">Ethereum Price Dump Incoming?  ETH CEX&#8217;s Inflows Hit 2-Month High<\/a><\/p>\n<h2><b>Ethereum Price Daily Chart<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A bearish breakdown from a lower support trendline could trigger a significant correction.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The 200-day EMA wavering near the $1800 level indicates a strong demand zone.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The intraday trading volume in Ether is $6.3 Billion, indicating a 14% gain.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Ethereum Price Analysis\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/3\/3YO46D0C.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/3\/3YO46D0C.png\" alt=\"Ethereum Price Analysis\" width=\"1946\" height=\"1104\"\/><\/noscript>Source- <\/span><span style=\"font-weight: 400;\">tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">After witnessing a steady correction for over a week, the Ethereum price plunged to the lower support trendline of the wedge pattern.  The daily candles with short bodies and rejections on both sides indicate an uncertain market sentiment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">By press time, the ETH price trades at $1885 with an intraday loss of 0.34%.  Anyhow, a common outcome for a rising wedge pattern is the breakdown below the support trendline, accelerating the downside momentum.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">A breakdown below the support trendline with a daily candle would signal the continuation of the correction phase and could plunge the price back to $1800 support. <\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">The $1800 level accompanied by a long-coming support trendline and 200-day EMA could offer sold footing for coin buyers.  Thus, the sellers are less likely to break this barrier with a weak bearish momentum.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>Can ETH Price Rise back to $2000?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">If the coin price manages to hold the lower trendline for a few more trading days, the buyers could reattempt to bounce higher and prolong the current recovery cycle.  This bullish reversal could lead the price back to an overhead trendline wobbling around $2050.  However, a breakout above the resistance trendline is needed to give better confirmation of higher growth.<\/span><\/p>\n<ul>\n<li><b>Relative Strength Index: <\/b><span style=\"font-weight: 400;\">The daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">rsi slope<\/a> accentuates a neutral sentiment in the market.<\/span><\/li>\n<li aria-level=\"1\"><b>Exponential Moving Average: <\/b><span style=\"font-weight: 400;\">The daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA&#8217;s<\/a>(50, 100, and 200) assist traders to sustain ongoing rallies.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA154912\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  Reach out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD154912\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 9 minutes ago Ethereum Price Analysis: Despite the current volatility in the cryptocurrency market, the ether price has demonstrated impressive recovery, consistently adhering to the diverging trendlines of broadening channel patterns. This pattern developed signals a period of increased volatility and indecision between buyers and sellers. Thus, interested traders can grab a direct trade [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":125573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-125572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=125572"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125572\/revisions"}],"predecessor-version":[{"id":125574,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/125572\/revisions\/125574"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/125573"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=125572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=125572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=125572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}