{"id":145544,"date":"2023-09-01T14:10:01","date_gmt":"2023-09-01T08:40:01","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=145544"},"modified":"2023-09-01T14:10:01","modified_gmt":"2023-09-01T08:40:01","slug":"ethereum-faces-rejection-yet-again-can-bulls-protect-this-key-support-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-faces-rejection-yet-again-can-bulls-protect-this-key-support-crypto-news\/","title":{"rendered":"Ethereum Faces Rejection Yet Again, Can Bulls Protect This Key Support? &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price failed to reclaim $1,750 and trimmed all gains against the US Dollar. ETH could accelerate lower if it breaks the $1,630 support.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh decline below the $1,700 level.<\/li>\n<li>The price is trading below $1,700 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $1,690 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could extend its decline if there is a close below the $1,630 support.<\/li>\n<\/ul>\n<h2>Ethereum Price Trimmed Gains<\/h2>\n<p>Ethereum\u2019s price failed to settle above the $1,700 level. ETH started a fresh decline and gained bearish momentum below the $1,700 level, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-26750\/\">Bitcoin<\/a>.<\/p>\n<p>There was a clear move below the $1,665 level and the price spiked below the $1,640 level. It tested the $1,630 support and is currently consolidating losses. Ether is now trading below $1,700 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-fresh-rally-to-1800\/\">100-hourly Simple Moving Average<\/a>.<\/p>\n<p>Besides, there is a key bearish trend line forming with resistance near $1,690 on the hourly chart of ETH\/USD. On the upside, the price might face resistance near the $1,660 level and the 23.6% Fib retracement level of the recent decline from the $1,747 swing high to the $1,630 low.<\/p>\n<p>The next resistance is near the $1,680 level. The main resistance is now forming near the trend line and $1,700. It is close to the 50% Fib retracement level of the recent decline from the $1,747 swing high to the $1,630 low.<\/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 $1,700 level might send the price toward the $1,750 zone. If there is a clear move above $1,750, Ethereum could climb toward the $1,800 resistance. Any more gains might send the price toward the $1,850 resistance.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,700 resistance, it could continue to move down. Initial support on the downside is near the $1,640 level.<\/p>\n<p>The first key support is close to $1,630. The next major support is near the $1,600 level. If there is a downside break below $1,600, the price could extend its decline toward the $1,540 level. Any more losses might send the price toward the $1,480 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 $1,630<\/p>\n<p>Major Resistance Level \u2013 $1,700<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price failed to reclaim $1,750 and trimmed all gains against the US Dollar. ETH could accelerate lower if it breaks the $1,630 support. Ethereum started a fresh decline below the $1,700 level. The price is trading below $1,700 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":145545,"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-145544","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\/145544","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=145544"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/145544\/revisions"}],"predecessor-version":[{"id":145546,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/145544\/revisions\/145546"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/145545"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=145544"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=145544"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=145544"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}