TA: Ethereum Corrects Sharply, Why ETH Could Struggle To Reclaim $1,800

2021-2-15 08:08

Ethereum started a sharp decline after it failed to surpass the $1,850 resistance against the US Dollar. ETH price tested $1,660 and it is currently facing hurdles near $1,760.

Ethereum started a strong downside correction from the $1,850 and $1,860 resistance levels. The price is now trading well below $1,800 and the 100 hourly simple moving average. There was a break below a major contracting triangle with support near $1,790 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover, but it might face a strong resistance near $1,760 and $1,780. Ethereum Price Dips 8%

Ethereum failed to extend gains above the $1,850 and $1,860 resistance levels. ETH started a fresh decline (similar to bitcoin) from the $1,834 swing high and it declined more than $150.

There was a break below the $1,800 support level and the 100 hourly simple moving average. There was also a break below a major contracting triangle with support near $1,790 on the hourly chart of ETH/USD.

Ether price tumbled below the $1,750 support and it even spiked below the $1,700 level. The bulls appeared near the $1,650 and $1,660 levels and protected more downsides. A low is formed near $1,664 and the price is currently recovering.

Source: ETHUSD on TradingView.com

It is back above the $1,680 and $1,700 levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $1,834 high to $1,664 low.

On the upside, the first key resistance is near the $1,750 level. It is close to the 50% Fib retracement level of the recent decline from the $1,834 high to $1,664 low. The next major resistance is near the $1,760 level (a multi-touch zone).

The main resistance is now forming near the $1,790 and $1,800 levels (the recent breakdown zone). The 100 hourly simple moving average is also positioned near the $1,800 level.

More Downsides in ETH?

If Ethereum fails to clear the $1,750 and $1,760 resistance levels, it could continue to move down. On the downside, the first major support is near the $1,700 level.

The main support is near the $1,660 level. If there is a close below the $1,700 level and a follow up move below $1,660, the price could dive towards the $1,600 support level.

Technical Indicators

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

Hourly RSI – The RSI for ETH/USD is well below the 40 level.

Major Support Level – $1,700

Major Resistance Level – $1,760

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3353.3 (-0.60%)
Объем 24H $25.22b
Изменеия 24h: -1.76 %, 7d: -13.83 %
Cегодня L: $3297.22 - H: $3393.89
Капитализация $403.923b Rank 2
Цена в час новости $ 1819.77 (84.27%)

ethereum started resistance 850 eth facing hurdles

Источник: newsbtc.com

ethereum started → Результатов: 126


Ethereum Could Plunge to $315 if Bulls Fail to Defend One Key Level

Although the altcoin market has not been tracking Bitcoin’s upside as of late, it is still fully exposed to its downside The cryptocurrency faced another rejection at $13,800 overnight that caused it to reel into the lower-$13,000 region This created headwinds that put a firm end to the breakout rally that Ethereum started forming yesterday ETH has now erased all of its recent gains and is now at risk of seeing significantly further downside One […]

2020-11-3 23:00


Фото:

Analyst: Ethereum is Poised to Rally Past $430 Despite Consolidation

Ethereum has been showing tremendous signs of strength as it begins moving in lockstep with Bitcoin Despite seeing a selloff on the first day that Bitcoin started rallying, ETH quickly reshaped its previously close correlation with BTC and began surging This surge led its price all the way up to highs of $420 yesterday, which is where it found some slight resistance One analyst believes that this resistance will be swiftly surmounted in the near-term […]

2020-10-24 23:00


Фото:

Analysts Think Ethereum’s Bull Trend is “Just Getting Started” Despite Selloff

Ethereum has plunged today despite the strength seen by Bitcoin ETH’s ongoing descent has sent shockwaves throughout the market, creating a tailwind that has adversely impacted most other altcoins This intense selling pressure isn’t showing any signs of letting up today, but it is important to note that there’s still a chance that an upside movement is brewing One analyst is pointing to ETH’s Renko chart with a Guppy indicator, noting that it appears to […]

2020-10-21 23:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Price Takes a Plunge: Can Bulls Step In?

Ethereum price extended losses and dropped below the $3,680 zone. ETH is down over 7% and is showing bearish signs below the $3,550 level. Ethereum started a fresh decline below the $3,680 zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average.

Ethereum Price Falls 5%: Correction or Start of a Bigger Slide?

Ethereum price started a sharp decline below the $3,880 zone. ETH is down over 5% and is showing bearish signs below the $3,680 level. Ethereum started a fresh decline below the $3,800 zone. The price is trading below $3,680 and the 100-hourly Simple Moving Average.

Ethereum Forming A Symmetrical Pattern – Key Resistance At $4,100

Ethereum is making another attempt to break above the $4,000 level as it edges closer to its all-time highs. Despite its strong fundamentals, doubts linger in the market regarding Ethereum’s performance this cycle, with some expecting it to underperform amid stiff competition from other blockchain ecosystems.