Ethereum Price Crashes Below $1,500, Why FTT and BNB Sparked Downtrend

2022-11-8 07:24

Ethereum started a major decline below the $1,500 support against the US Dollar. ETH faced an increase in selling after the market dumped FTT, SOL, and DOGE.

Ethereum started a major decline below the $1,550 and $1,500 levels. The price is now trading below $1,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,570 on the hourly chart of ETH/USD (data feed via Kraken). The pair is down over 7% and there is a risk of a move below the $1,420 support. Ethereum Price Dives

Ethereum failed to stay above the $1,600 level and started a major decline. BTC broke a major support near the $1,550 level and the 100 hourly simple moving average.

The recent drama and decline in FTT and SOL caused the market crash. Bitcoin, ripple, and BNB faced an increase in selling pressure. Ether price declined over 7% and there was a strong decline below the 76.4% Fib retracement level of the main increase from the $1,500 swing low to $1,675 high.

The price now trading below $1,500 and the 100 hourly simple moving average. It is trading near the 1.236 Fib extension level of the main increase from the $1,500 swing low to $1,675 high.

An immediate resistance on the upside is near the $1,500 level. The next major resistance is near the $1,540 level or the recent break down zone. There is also a major bearish trend line forming with resistance near $1,570 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com

A clear break above the $1,570 resistance could set the pace for a decent increase. In the stated case, the price could rise to the $1,620 level. Any more gains might send the price toward the $1,675 resistance zone.

More Losses in ETH?

If ethereum fails to climb above the $1,500 resistance, it could continue to move down. An initial support on the downside is near the $1,460 level.

The next major support is near the $1,420 level, below which ether price may perhaps extend losses. In the stated scenario, the price could decline towards the $1,350 support zone in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is now gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 level.

Major Support Level – $1,460

Major Resistance Level – $1,540

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3102.79 (+0.50%)
Объем 24H $11.129b
Изменеия 24h: -0.31 %, 7d: 4.25 %
Cегодня L: $3055.33 - H: $3131.6
Капитализация $372.728b Rank 2
Цена в час новости $ 1487.15 (108.64%)

ethereum 500 below major started ftt decline

ethereum 500 → Результатов: 126


Фото:

Meteoric Rise: Ethereum’s Mesmerizing 285% YTD Returns Send ETH Soaring Above $500 For First Time Since 2018

Ethereum is in the midst of a parabolic rally. The second-largest cryptocurrency has breached the $500 hurdle for the first time since 2018 and is up over 280% year-to-date. Ethereum’s jump to 28-month highs comes as alternative cryptocurrencies (also known as altcoins) stage a recovery from the lackluster performance. Above $500, there’s now very little […]

2020-11-23 09:08


Фото:

The Ethereum Investment Case Has This Unexpected Achilles’ Heel

With the next crypto bull run on the horizon, investors have speculated that Ethereum will be one of this cycle’s best investments. As reported by Bitcoinist previously, Chris Burniske, a partner at Placeholder Capital, said that he thinks Ethereum could rally to $7,500 in the coming years: “If BTC goes > $50,000 in the next cycle, and ETHBTC returns to its former ATH, then expect to see ETH > $7,500. To the mainstream ETH will be […]

2020-6-15 13:00


Виталик Бутерин предложил масштабировать эфириум с помощью технологии Zcash

Виталик Бутерин планирует увеличить количество транзакций в сети эфириума на 3200% (до приблизительно 500 транзакций в секунду) без использования технологий второго уровня, таких как Plasma. В своей публикации на форуме Ethereum Research сооснователь проекта отметил, что эфириум может позаим...

2018-9-25 10:47


Фото:

How Zcash Could Help Scale Ethereum Up To 500 Transactions Per Second

Scalability problems plague Ethereum. Often, the Ethereum blockchain is clogged and slow, hardly a surprise given how many projects exist on the Ethereum blockchain though. There could be a new solution within some new practices that have been pioneered within the Zcash network, according to Coindesk: “A form of cryptography pioneered by zcash might help scale ethereum, founder of the platform Vitalik Buterin said on a research forum Saturday.

2018-9-24 18:00


Виталик Бутерин: технология zk-SNARK может помочь масштабировать Ethereum

Технология zk-SNARK, созданная разработчиками Zcash, может помочь масштабировать Ethereum. Об этом заявил сооснователь платформы Виталик Бутерин на исследовательском форуме, прошедшем на днях. По его мнению, используя zk-SNARKs, Ethereum можно масштабировать до 500 транзакций в секунду, не прибегая к решениям второго уровня, таким как Plasma или Raiden.

2018-9-24 17:25


500 транзакций в секунду: Бутерин заявил, что zk-snarks поможет масштабированию Ethereum

Технология, представленная в криптовалюте ZCash, может помочь Ethereum масштабироваться, пишет CoinDesk со ссылкой на заявление основателя платформы Виталика Бутерина. По словам Бутерина, благодаря технологии zk-snarks Ethereum может масштабироваться «до огромных размеров» и обрабатывать до 500 транзакций в секунду без необходимости прибегать к решениям второго уровня, таким как Plasma или Raiden.

2018-9-24 17:10


Crypto Price Review: Bitcoin, Ethereum and Ripple Are Bullish; Bitcoin Cash and Litecoin Struggle

Bitcoin (BTC) Bitcoin, the largest cryptocurrency by market cap, has shot up to $6,500. This past week has been an up-and-down journey for the cryptocurrency, with price swings from $6,400 all the way down to $6,090, but for the time being, bitcoin appears to be exhibiting bullish activity and expanding its horizons. Some of bitcoin’s […]

2018-8-18 21:12