{"id":154895,"date":"2023-09-13T09:55:47","date_gmt":"2023-09-13T04:25:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=154895"},"modified":"2023-09-13T09:55:47","modified_gmt":"2023-09-13T04:25:47","slug":"ethereum-price-faces-uphill-task-and-could-restart-decline-to-1500-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-faces-uphill-task-and-could-restart-decline-to-1500-crypto-news\/","title":{"rendered":"Ethereum Price Faces Uphill Task and Could Restart Decline To $1,500 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price is attempting a recovery wave above $1,580 against the US Dollar. ETH is struggling to clear $1,620 and might start another decline.<\/em><\/p>\n<ul>\n<li>Ethereum is struggling to gain pace for a move above $1,600 and $1,620.<\/li>\n<li>The price is trading below $1,600 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $1,600 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start another decline unless there is a close above $1,620.<\/li>\n<\/ul>\n<h2>Ethereum Price Struggles Above $1,600<\/h2>\n<p>Ethereum\u2019s price started an upside correction from the $1,530 level. ETH managed to recover above the $1,560 and $1,580 resistance levels, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-formation-26500\/\">Bitcoin<\/a>.<\/p>\n<p>The bulls even pushed the price above the 50% Fib retracement level of the key decline from the $1,670 swing high to the $1,530 low. The price climbed above the $1,600 resistance level and the 100-hourly Simple Moving Average. However, the bears took a stand near the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-capped-1620\/\">key resistance at $1,620<\/a>.<\/p>\n<p>Ether failed to clear the 61.8% Fib retracement level of the key decline from the $1,670 swing high to the $1,530 low. There is also a major bearish trend line forming with resistance near $1,600 on the hourly chart of ETH\/USD.<\/p>\n<p>Ethereum is now trading below $1,600 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $1,595 level or the trend line. The next resistance is near the $1,620 level. A close above the $1,620 resistance might send the price toward the $1,670 resistance.<\/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>The next major hurdle is near the $1,720 level. A close above the $1,720 level might send Ethereum further higher toward $1,800.<\/p>\n<h2>Another Drop in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,600 resistance, it could start another decline. Initial support on the downside is near the $1,565 level.<\/p>\n<p>The first key support is close to $1,550. The next key support is $1,530. A downside break below $1,530 might push the price further lower toward the $1,500 zone. In the stated case, the price could even decline toward the $1,440 level in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly 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 $1,550<\/p>\n<p>Major Resistance Level \u2013 $1,620<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is attempting a recovery wave above $1,580 against the US Dollar. ETH is struggling to clear $1,620 and might start another decline. Ethereum is struggling to gain pace for a move above $1,600 and $1,620. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a major bearish trend [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":154896,"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-154895","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\/154895","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=154895"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154895\/revisions"}],"predecessor-version":[{"id":154897,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/154895\/revisions\/154897"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/154896"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=154895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=154895"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=154895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}