TA: Ethereum Prints Bearish Technical Pattern, Why It Could Revisit $2.2K

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	368,988,210,327	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

368,988,210,327

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-23.76	-0.77%	3,042.09	3,042.22	3,042.60

Price Change

Price Change %

Current Price

Bid Price

Offer

-23.76

-0.77%

3,042.09

3,042.22

3,042.60

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,128.99	2,865.71	3,060.61	3,065.85	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,128.99

2,865.71

3,060.61

3,065.85

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:08:58	0.180570	3,042.05	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:08:58

0.180570

3,042.05

USD

Price x Volume	Volume	Base Symbol	Related Pairs
435,456,906.10	142,981.11	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

435,456,906.10

142,981.11

TA: Ethereum Prints Bearish Technical Pattern, Why It Could Revisit $2.2K

27/01/2022 5:48am

NEWSBTC

Ethereum failed to surpass $2,725 and started a fresh decline against the US Dollar. ETH price could continue to move down if there is no move above $2,500. Ethereum failed to clear the $2,700 and $2,725 resistance levels. The price is trading below $2,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if there is a clear move above the $2,500 resistance zone. Ethereum Price Tops Near $2,700 Ethereum started a decent recovery wave above the $2,500 and $2,550 resistance levels. ETH even cleared the $2,600 level and the 100 hourly simple moving average. However, ether price failed to gain strength above the $2,700 level. A high was formed near $2,729 and the price started a fresh decline. There was a break below the $2,600 and $2,500 support levels. Besides, there was a break below a key bullish trend line with support near $2,500 on the hourly chart of ETH/USD. The pair traded below the 50% Fib retracement level of the upward move from the $2,171 swing low to $2,729 high. Ether is now trading below $2,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,450 level. The first major resistance is near the $2,500 level. A clear move above the $2,500 resistance might start a steady increase. In the stated case, the pair could rise towards the $2,650 level. If there is an upside break above $2,650 resistance, zone, the price could even attempt a move above the $2,700 zone. The next major resistance is near the $2,850 level. More Losses in ETH? If ethereum fails to start a fresh increase above the $2,500 level, it could start a fresh decline. An initial support on the downside is near the $2,340 level. The first key support is now forming near the $2,300 level. It is near the 76.4% Fib retracement level of the upward move from the $2,171 swing low to $2,729 high. The next major support for the bulls may perhaps be near the $2,200 zone. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $2,300 Major Resistance Level – $2,550

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ETHUSD Ethereum