{"id":300692,"date":"2024-05-13T11:23:21","date_gmt":"2024-05-13T05:53:21","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=300692"},"modified":"2024-05-13T11:23:21","modified_gmt":"2024-05-13T05:53:21","slug":"ethereum-price-takes-hit-and-turns-at-risk-of-fresh-lows-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/ethereum-price-takes-hit-and-turns-at-risk-of-fresh-lows-crypto-news\/","title":{"rendered":"Ethereum Price Takes Hit and Turns At Risk of Fresh Lows &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><em>Ethereum price is gaining bearish momentum below $2,950. ETH might continue to move down toward the $2,550 support in the near term.<\/em><\/p>\n<ul>\n<li>Ethereum struggled to clear the $2,950 resistance and started a fresh decline.<\/li>\n<li>The price is trading below $2,920 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish trend line forming with resistance at $2,910 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could gain bearish momentum if there is a move below the $2,850 support.<\/li>\n<\/ul>\n<h2>Ethereum Price Extends Losses<\/h2>\n<p>Ethereum price failed to continue higher above the $2,950 resistance, like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-bearish-60k\/\">Bitcoin<\/a>. A high was formed at $2,951 and the price started a fresh decline. There was a steady decline below the $2,920 and $2,900 levels.<\/p>\n<p>A low has formed at $2,864 and the price is now <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-increase-3080\/\">consolidating losses<\/a>. It is trading near the 23.6% Fib retracement level of the downward move from the $2,951 swing high to the $2,864 low. Ethereum is now trading below $2,950 and the 100-hourly Simple Moving Average.<\/p>\n<p>Immediate resistance is near the $2,900 level. The first major resistance is near the $2,920 level or the 50% Fib retracement level of the downward move from the $2,951 swing high to the $2,864 low.<\/p>\n<p>There is also a key bearish trend line forming with resistance at $2,910 on the hourly chart of ETH\/USD. The next key resistance sits at $2,950 and 100-hourly Simple Moving Average, above which the price might gain traction and rise toward the $3,020 level.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2024\/05\/Ethereum_ada553.png?resize=1024%2C461\"><\/a><\/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>If there is a clear move above the $3,020 level, the price might rise and test the $3,150 resistance. Any more gains could send Ether toward the $3,250 resistance zone.<\/p>\n<h2>More Losses In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,920 resistance, it could start another decline. Initial support on the downside is near the $2,865 level. The first major support is near the $2,840 zone.<\/p>\n<p>The next support is near the $2,780 level. A clear move below the $2,780 support might push the price toward $2,650. Any more losses might send the price toward the $2,550 level in the near term.<\/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 $2,865<\/p>\n<p>Major Resistance Level \u2013 $2,920<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is gaining bearish momentum below $2,950. ETH might continue to move down toward the $2,550 support in the near term. Ethereum struggled to clear the $2,950 resistance and started a fresh decline. The price is trading below $2,920 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":179229,"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-300692","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\/300692","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=300692"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/300692\/revisions"}],"predecessor-version":[{"id":300695,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/300692\/revisions\/300695"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/179229"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=300692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=300692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=300692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}