{"id":149914,"date":"2023-09-05T11:05:35","date_gmt":"2023-09-05T05:35:35","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=149914"},"modified":"2023-09-05T11:05:35","modified_gmt":"2023-09-05T05:35:35","slug":"ethereum-price-indicators-suggest-vulnerability-for-bigger-decline-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-indicators-suggest-vulnerability-for-bigger-decline-crypto-news\/","title":{"rendered":"Ethereum Price Indicators Suggest Vulnerability For Bigger Decline &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price is struggling to recover above $1,650 against the US Dollar. ETH is showing bearish signs and might dive below the $1,600 support.<\/em><\/p>\n<ul>\n<li>Ethereum failed to gain strength for a move above the $1,650 zone.<\/li>\n<li>The price is trading below $1,640 and the 100-hourly Simple Moving Average.<\/li>\n<li>There are two bearish trend lines forming with resistance near $1,630 and $1,640 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could accelerate lower if the bears push it below the $1,600 support.<\/li>\n<\/ul>\n<h2>Ethereum Price Remains At Risk<\/h2>\n<p>Ethereum\u2019s price attempted a recovery wave from the $1,600 support zone. ETH price climbed above the $1,630 level but the bears were active near the $1,650 zone, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-downside-thrust-25000\/\">Bitcoin<\/a>.<\/p>\n<p>The price is again moving lower and showing bearish signs. There are also two bearish trend lines forming with resistance near $1,630 and $1,640 on the hourly chart of ETH\/USD. Ether is now trading below $1,640 and the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-bears-strong-1700\/\">100-hourly Simple Moving Average<\/a>.<\/p>\n<p>On the upside, the price might face resistance near the $1,630 level and the first trend line. The next resistance is near the $1,640 level, the second trend line, and the 100 hourly SMA. It is close to the 23.6% Fib retracement level of the downward move from the $1,750 swing high to the $1,600 low.<\/p>\n<p>A close above the $1,640 level might send the price toward the $1,670 zone. The main resistance is now forming near $1,700 or the 61.8% Fib retracement level of the downward move from the $1,750 swing high to the $1,600 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>To start a fresh increase, Ethereum must settle above the $1,700 resistance zone. The next resistance might be near $1,750. Any more gains might send the price toward the $1,800 resistance.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,640 resistance, it could continue to move down. Initial support on the downside is near the $1,610 level.<\/p>\n<p>The first key support is close to $1,600. The next major support is near the $1,580 level. If there is a downside break below $1,580, the price could accelerate lower toward the $1,540 level. Any more losses might send the price toward the $1,480 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining 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 $1,600<\/p>\n<p>Major Resistance Level \u2013 $1,640<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is struggling to recover above $1,650 against the US Dollar. ETH is showing bearish signs and might dive below the $1,600 support. Ethereum failed to gain strength for a move above the $1,650 zone. The price is trading below $1,640 and the 100-hourly Simple Moving Average. There are two bearish trend lines 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-149914","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\/149914","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=149914"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149914\/revisions"}],"predecessor-version":[{"id":149915,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/149914\/revisions\/149915"}],"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=149914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=149914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=149914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}