Ethereum Price Just Saw Key Technical Correction But Key Support Intact

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	359,333,268,358	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

359,333,268,358

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-234.49	-7.29%	2,980.39	2,980.17	2,980.38

Price Change

Price Change %

Current Price

Bid Price

Offer

-234.49

-7.29%

2,980.39

2,980.17

2,980.38

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,249.66	2,942.34	3,209.81	3,214.88	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,249.66

2,942.34

3,209.81

3,214.88

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	18:40:26	0.009500	2,981.20	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

18:40:26

0.009500

2,981.20

USD

Price x Volume	Volume	Base Symbol	Related Pairs
305,436,714.39	99,699.60	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

305,436,714.39

99,699.60

Ethereum Price Just Saw Key Technical Correction But Key Support Intact

23/03/2023 5:31am

NEWSBTC

Ethereum price started a downside correction from the $1,840 zone against the US Dollar. ETH is still holding the $1,700 support and might attempt a fresh increase. Ethereum reacted to the downside from the key $1,840 resistance zone. The price is trading below $1,780 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support at $1,750 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the key $1,700 support zone. Ethereum Price Corrects Lower Ethereum price started a downside correction from the $1,820 resistance zone. ETH corrected lower and traded below the $1,800 level, similar to bitcoin. The fed increased rates, resulting in a drop below the $1,800 level. There was a break below a major bullish trend line with support at $1,750 on the hourly chart of ETH/USD. The pair declined below the $1,750 support zone. A low is formed near $1,713 and the price is now consolidating losses. Ether price is now trading below $1,780 and the 100 hourly simple moving average. It is testing the 23.6% Fib retracement level of the downward move from the $1,825 swing high to $1,713 low. On the upside, the price is facing resistance near the $1,760 zone. The next major resistance is near the $1,770 zone and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the downward move from the $1,825 swing high to $1,713 low. Source: ETHUSD on TradingView.com The first major resistance is near $1,800. A close above the $1,800 resistance zone might send the price towards $1,840. If the bulls clear the $1,840 hurdle, there could be a strong upward move. Downside Break in ETH? If ethereum fails to clear the $1,770 resistance, it could start another decline. An initial support on the downside is near the $1,720 level. The next major support is near the $1,695 zone. If there is a break below $1,695, the price might gain bearish momentum and drop towards $1,620. Any more losses might call for a test of the $1,550 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $1,700 Major Resistance Level – $1,770

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