TA: Ethereum Indicators Suggest ETH at Potentially Significant Turning Point

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	360,121,524,977	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

360,121,524,977

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	24.84	0.84%	2,998.72	2,998.74	2,998.75

Price Change

Price Change %

Current Price

Bid Price

Offer

24.84

0.84%

2,998.72

2,998.74

2,998.75

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,003.19	2,970.85	2,975.17	2,973.88	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,003.19

2,970.85

2,975.17

2,973.88

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	04:54:30	0.081332	2,998.72	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

04:54:30

0.081332

2,998.72

USD

Price x Volume	Volume	Base Symbol	Related Pairs
19,851,070.11	6,637.59	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

19,851,070.11

6,637.59

TA: Ethereum Indicators Suggest ETH at Potentially Significant Turning Point

17/08/2022 5:48am

NEWSBTC

Ethereum is slowly moving lower below $1,900 against the US Dollar. ETH must stay above $1,850 to avoid more losses in the near term. Ethereum started a downside correction below the $1,920 level. The price is now trading below $1,920 and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $1,900 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to decline if it stays below $1,900 and $1,950. Ethereum Price Faces Resistance Ethereum started a downside correction from well above the $2,000 resistance zone. ETH slowly moved lower below the $1,950 and $1,920 levels. There was a clear move below the $1,900 level and the 100 hourly simple moving average. Ether price traded as low as $1,854 and remained stable above the $1,850 support zone. It is now consolidating losses above the $1,860 level. An immediate resistance on the upside is near the $1,900 level and the 100 hourly simple moving average. It is near the 23.6% Fib retracement level of the recent drop from the $2,030 swing high to $1,854 low. There is also a key declining channel forming with resistance near $1,900 on the hourly chart of ETH/USD. The first major resistance is near the $1,920 and $1,925 levels. The key breakout zone is forming near the $1,950 level or the 50% Fib retracement level of the recent drop from the $2,030 swing high to $1,854 low. Source: ETHUSD on TradingView.com A clear move above the $1,950 resistance could start a steady increase to $2,000. If there are more upsides, the price may perhaps gain bullish momentum and test the $2,080 resistance zone in the near term. More Losses in ETH? If ethereum fails to rise above the $1,925 resistance, it could continue to move down. An initial support on the downside is near the $1,860 zone. The next major support is near $1,850, below which there is a risk of a sharp decline. In the stated case, ether price may perhaps decline towards the $1,810 level. If the bears remain in action, the price could even drop towards the $1,750 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 above the 50 level. Major Support Level – $1,850 Major Resistance Level – $1,925

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