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Sunday, June 26, 2022
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    HomeMarketEthereum Dives 10%, Why ETH Might Test $1,500

    Ethereum Dives 10%, Why ETH Might Test $1,500

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    Ethereum prolonged decline beneath the $1,820 help towards the US Greenback. ETH examined $1,730 and stays at a threat of extra downsides within the close to time period.

    • Ethereum gained bearish momentum and declined beneath $1,820.
    • The value is now buying and selling beneath $1,800 and the 100 hourly easy shifting common.
    • There’s a key bearish development line forming with resistance close to $1,910 on the hourly chart of ETH/USD (knowledge feed by way of Kraken).
    • The pair is struggling and stays at a threat of extra losses beneath $1,700.

    Ethereum Worth Features Bearish Momentum

    Ethereum remained beneath the $2,000 resistance zone and 100 hourly easy shifting common. In consequence, there was a pointy bearish response beneath the $1,920 help.

    The bears had been in a position to push the worth beneath $1,820 and $1,800. The value declined over 10% and traded beneath $1,750. A low is shaped close to $1,727 and the worth is now consolidating losses. On the upside, an preliminary resistance is close to the $1,770 degree. It’s close to the 23.6% Fib retracement degree of the latest decline from the $1,911 swing excessive to $1,727 low.

    The subsequent main resistance is close to the $1,820 degree. It’s near the 50% Fib retracement degree of the latest decline from the $1,911 swing excessive to $1,727 low.

    The primary resistance is now forming close to the $1,920 degree. There may be additionally a key bearish development line forming with resistance close to $1,910 on the hourly chart of ETH/USD. A detailed above the $1,920 degree may open the doorways for a gradual enhance.

    Ethereum Price

    Supply: ETHUSD on TradingView.com

    Within the acknowledged case, ether value may rise in the direction of the $2,000 resistance zone. Any extra features could maybe ship it in the direction of the important thing $2,085 resistance zone.

    Extra Losses in ETH?

    If ethereum fails to get better above the $1,820 resistance, it may proceed to maneuver down. An preliminary help on the draw back is close to the $1,730 zone.

    The subsequent main help is close to the $1,700 degree. A downside break beneath the $1,700 degree may name for one more sharp decline. Within the acknowledged case, the worth may dive in the direction of the $1,650 degree. Any extra losses could maybe name for a transfer to $1,500.

    Technical Indicators

    Hourly MACDThe MACD for ETH/USD is now gaining momentum within the bearish zone.

    Hourly RSIThe RSI for ETH/USD is now beneath the 40 degree.

    Main Help Stage – $1,720

    Main Resistance Stage – $1,820



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