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Name Symbol Market Market Cap ($) Algorithm
Ethereum ETHUSD Crypto 230,157,131,799 Ethash
  Price Change Price Change % Current Price Bid Price Offer
  -24.40 -1.26% 1,911.12 1,911.38 1,911.54
High Price Low Price Open Price Prev. Close 52 Week Range
2,013.47 1,866.51 1,935.92 1,935.52 880.00 - 4,867.81
Exchange Last Trade Size Trade Price Currency
GDAX 23:22:09 0.001636 1,910.84 USD
Price x Volume Volume Base Symbol Related Pairs
1,015,089,880.09 528,421.51 ETH ETHEUR ETHGBP ETHBTC

TA: Ethereum Struggles Below $2K, Why Bears Remain In Action

26/05/2022 6:08am

NEWSBTC


Ethereum struggled to gain pace above the $2,000 resistance against the US Dollar. ETH is declining, but it is still above the key $1,920 support zone. Ethereum is showing a few bearish signs below the $2,000 barrier. The price is now trading below $2,000 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,970 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline sharply if there is a clear move below the $1,920 support zone. Ethereum Price Settles Below $2K Ethereum climbed above the $1,950 resistance and the 100 hourly simple moving average. However, the bears protected major gains above the key $2,000 zone. The price started a fresh decline from the $2,020 swing high. There was a clear move below the $1,980 level and $1,950. Ether is now trading below $2,000 and the 100 hourly simple moving average. A low is formed near $1,931 and the price is now consolidating losses. On the upside, an initial resistance is near the $1,950 level. It is near the 23.6% Fib retracement level of the recent decline from the $2,020 swing high to $1,931 low. The next major resistance is near the $1,970 level. There is also a major bearish trend line forming with resistance near $1,970 on the hourly chart of ETH/USD. The trend line is near the 50% Fib retracement level of the recent decline from the $2,020 swing high to $1,931 low. Source: ETHUSD on TradingView.com The main resistance is now forming near the $2,000 level. A close above the $2,000 level could open the doors for a steady increase. In the stated case, ether price could rise towards the $2,085 resistance zone. Any more gains may perhaps send it towards the key $2,200 resistance zone. More Losses in ETH? If ethereum fails to recover above the $2,000 resistance, it could continue to move down. An initial support on the downside is near the $1,930 zone. The next major support is near the $1,920 level. A downside break below the $1,920 level might call for a sharp decline. In the stated case, the price could dive towards the $1,850 level. Any more losses may perhaps call for a move to $1,800. 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 – $1,920 Major Resistance Level – $2,000

1 Year Ethereum Chart

1 Year Ethereum Chart

1 Month Ethereum Chart

1 Month Ethereum Chart
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