Ethereum Price Plunges Again: Start of Another Decline Or Buying Opportunity

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	384,762,955,588	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

384,762,955,588

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	63.94	2.04%	3,200.29	3,200.28	3,200.29

Price Change

Price Change %

Current Price

Bid Price

Offer

63.94

2.04%

3,200.29

3,200.28

3,200.29

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,221.41	3,124.31	3,140.53	3,136.35	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,221.41

3,124.31

3,140.53

3,136.35

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	11:08:46	0.000622	3,200.29	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

11:08:46

0.000622

3,200.29

USD

Price x Volume	Volume	Base Symbol	Related Pairs
79,428,296.07	25,056.44	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

79,428,296.07

25,056.44

Ethereum Price Plunges Again: Start of Another Decline Or Buying Opportunity

25/05/2023 5:10am

NEWSBTC

Ethereum price started a fresh decline below the $1,820 support against the US Dollar. ETH is showing bearish signs and might decline further toward $1,700. Ethereum is currently moving lower below the $1,820 support zone. The price is trading below $1,800 and the 100-hourly Simple Moving Average. There are two bearish trend lines forming with resistance near $1,790 and $1,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue lower toward the $1,720 and $1,700 levels. Ethereum Price Extends Losses Ethereum’s price failed to recover above the $1,850 resistance zone. ETH started a fresh decline and traded below the $1,820 support zone, similar to Bitcoin. The decline gained pace below the $1,800 level. The price tested the $1,760 zone. A low is formed near $1,761 and the price is now consolidating losses. Ether is trading below $1,800 and the 100-hourly Simple Moving Average. There are also two bearish trend lines forming with resistance near $1,790 and $1,820 on the hourly chart of ETH/USD. Immediate resistance is near the $1,785 zone and the first trend line. It is close to the 23.6% Fib retracement level of the downward move from the $1,873 swing high to the $1,761 low. The first major resistance is near the $1,820 level and second the trend line. It is close to the 50% Fib retracement level of the downward move from the $1,873 swing high to the $1,761 low. A close above the $1,820 resistance could send Ether toward $1,850. Source: ETHUSD on TradingView.com The next resistance sits near $1,880, above which Ethereum could rise toward $1,920. Any more gains above the $1,920 resistance zone could start a steady increase toward the $2,000 resistance. More Losses in ETH? If Ethereum fails to clear the $1,820 resistance, it could continue to move down. Initial support on the downside is near the $1,760 level. The next major support is near the $1,720 zone. The main support could be near $1,700. If there is a close below the $1,700 support, the price could accelerate lower. In the stated case, the price might drop toward the $1,640 support zone. Any more losses may perhaps send the price toward the $1,600 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is below the 50 level. Major Support Level – $1,760 Major Resistance Level – $1,820

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