TA: Ethereum Reverse Gains, Why ETH Could Dive Below $1K

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	362,278,416,182	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

362,278,416,182

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	27.86	0.93%	3,014.94	3,014.93	3,014.94

Price Change

Price Change %

Current Price

Bid Price

Offer

27.86

0.93%

3,014.94

3,014.93

3,014.94

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,036.35	2,977.99	2,987.82	2,987.08	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,036.35

2,977.99

2,987.82

2,987.08

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	04:45:17	0.001893	3,014.94	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

04:45:17

0.001893

3,014.94

USD

Price x Volume	Volume	Base Symbol	Related Pairs
49,539,298.86	16,460.40	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

49,539,298.86

16,460.40

TA: Ethereum Reverse Gains, Why ETH Could Dive Below $1K

17/06/2022 6:28am

NEWSBTC

Ethereum failed to clear the $1,250 resistance against the US Dollar. ETH is declining and remains at a risk of more downsides below the $1,000 support. Ethereum started a fresh decline after it failed to surpass the $1,250 zone. The price is now trading below $1,200 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $1,095 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its decline unless it clears $1,150 and $1,200 in the near term. Ethereum Price Remains At Risk Ethereum attempted a recovery wave above the $1,200 resistance zone. However, the bears were active near the $1,250 level. A high was formed near $1,256 and the price started a fresh decline. There was a move below the $1,200 and $1,150 levels. The price even settled below the $1,200 level and the 100 hourly simple moving average. A low was formed near $1,050 and ether is now consolidating losses. An immediate resistance is near the $1,090 level. There is also a connecting bearish trend line forming with resistance near $1,095 on the hourly chart of ETH/USD. The trend line is near the 23.6% Fib retracement level of the recent drop from the $1,256 swing high to $1,050 low. The next major resistance is near the $1,150 zone. It is close to the 50% Fib retracement level of the recent drop from the $1,256 swing high to $1,050 low. Any more gains might call for a test of the $1,200 level or the 100 hourly simple moving average. Source: ETHUSD on TradingView.com A clear move above the $1,200 resistance zone may perhaps start a decent upward move. The next major resistance is near the $1,260 level. Any more gains could start a move towards the $1,350 resistance. More Losses in ETH? If ethereum fails to rise above the $1,200 resistance, it could continue to move down. An initial support on the downside is near the $1,050 zone. The next major support is near the $1,000 zone. A clear move and break below the $1,000 zone could start a major decline. In the stated case, the price could slide towards the $880 support zone in the near term. 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 – $1,000 Major Resistance Level – $1,200

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ETHUSD Ethereum