{"id":138790,"date":"2023-09-02T03:03:15","date_gmt":"2023-09-01T21:33:15","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=138790"},"modified":"2023-09-02T03:03:15","modified_gmt":"2023-09-01T21:33:15","slug":"ethereum-price-trend-overwhelmingly-negative-as-bears-aim-1500-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-trend-overwhelmingly-negative-as-bears-aim-1500-crypto-news\/","title":{"rendered":"Ethereum Price Trend Overwhelmingly Negative As Bears Aim $1,500 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price declined heavily below $1,800 and $1,700 against the US Dollar. ETH could resume its decline and test the $1,500 support zone.<\/em><\/p>\n<ul>\n<li>Ethereum is gaining bearish momentum below the $1,750 and $1,800 resistance levels.<\/li>\n<li>The price is trading below $1,750 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $1,750 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could resume its decline and visit the $1,500 support in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Nosedives<\/h2>\n<p>Ethereum\u2019s price started a major decline after it broke the $1,800 support zone. ETH gained bearish momentum after it traded below the $1,720 support, similar to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-nosedives-25k-2\/\">Bitcoin<\/a>.<\/p>\n<p>The bears even pushed the price below the $1,600 level. Finally, it tested the $1,520 zone. A low is formed near $1,517 and the price is now attempting a recovery wave. There was a move above the $1,600 level. The price is now trading above the 50% Fib retracement level of the downward move from the $1,826 swing high to the $1,517 low.<\/p>\n<p>Ether is now trading below $1,750 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-takes-a-bit-hit-main-reasons-1720-or-1650-are-likely-targets\/\">100-hourly Simple Moving Average<\/a>. There is also a key bearish trend line forming with resistance near $1,750 on the hourly chart of ETH\/USD.<\/p>\n<p>On the upside, the price might face resistance near the $1,700 level. It is close to the 61.8% Fib retracement level of the downward move from the $1,826 swing high to the $1,517 low. The next resistance is near $1,750 or the trend line.<\/p>\n<\/p>\n<p>Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\">ETHUSD on TradingView.com<\/a><\/p>\n<p>A close above the $1,750 level could start a decent increase in the near term. The next major resistance is near the $1,800 level and the 100-hourly Simple Moving Average. Any more gains might send the price toward the $1,820 resistance, above which the price could rise toward the $1.880 zone.<\/p>\n<h2>Fresh Decline in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,750 resistance, it could continue to move down. Initial support on the downside is near the $1,620 level.<\/p>\n<p>The first major support is near the $1,550 zone. If the bulls fail to protect the $1,550 support, there could be more losses. The next major support is near the $1,520 support level. Any more losses might send the price toward the $1,500 level in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,620<\/p>\n<p>Major Resistance Level \u2013 $1,750<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price declined heavily below $1,800 and $1,700 against the US Dollar. ETH could resume its decline and test the $1,500 support zone. Ethereum is gaining bearish momentum below the $1,750 and $1,800 resistance levels. The price is trading below $1,750 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":138791,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-138790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138790","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=138790"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138790\/revisions"}],"predecessor-version":[{"id":138792,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/138790\/revisions\/138792"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/138791"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=138790"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=138790"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=138790"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}