{"id":28932,"date":"2023-09-21T04:54:28","date_gmt":"2023-09-21T04:54:28","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/09\/21\/ethereum-price-grinds-lower-but-key-support-is-still-intact\/"},"modified":"2023-09-21T04:54:28","modified_gmt":"2023-09-21T04:54:28","slug":"ethereum-price-grinds-lower-but-key-support-is-still-intact","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/09\/21\/ethereum-price-grinds-lower-but-key-support-is-still-intact\/","title":{"rendered":"Ethereum Price Grinds Lower But Key Support Is Still Intact"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p><em>Ethereum worth corrected decrease from the $1,670 resistance in opposition to the US Dollar. ETH might take a serious hit if it breaks the $1,600 help.<\/em><\/p>\n<ul>\n<li>Ethereum began a bearish wave from the $1,660 resistance.<\/li>\n<li>The worth is buying and selling under $1,640 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish development line forming with resistance close to $1,640 on the hourly chart of ETH\/USD (knowledge feed through Kraken).<\/li>\n<li>The pair should keep above the $1,600 help zone to start out one other enhance within the brief time period.<\/li>\n<\/ul>\n<h2>Ethereum Price Slides Further<\/h2>\n<p>Ethereum\u2019s worth didn&#8217;t clear the $1,660 and $1,670 resistance ranges. As a consequence, ETH began one other decline and traded under the $1,630 help, like <a href=\"https:\/\/www.newsbtc.com\/analysis\/btc\/bitcoin-price-vulnerable-below-27-5k\/\" target=\"_blank\" rel=\"noopener\">Bitcoin<\/a>.<\/p>\n<p>The worth moved under the $1,620 help as effectively. However, the bulls are energetic close to the $1,600 degree. A low is fashioned close to $1,606 and the worth is now consolidating losses. It is buying and selling close to the 23.6% Fib retracement degree of the downward transfer from the $1,659 swing excessive to the $1,606 low.<\/p>\n<p>Ether is now buying and selling under $1,640 and the 100-hourly Simple Moving Average. There can be a key bearish development line forming with resistance close to $1,640 on the hourly chart of ETH\/USD.<\/p>\n<p>On the upside, the worth may face resistance close to the $1,630 degree and the <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-lacks-momentum-1660\/\" target=\"_blank\" rel=\"noopener\">100-hourly Simple Moving Average<\/a>. The subsequent resistance is close to the $1,640 degree and the development line. The development line can be close to the 61.8% Fib retracement degree of the downward transfer from the $1,659 swing excessive to the $1,606 low.<\/p>\n<p><img decoding=\"async\" class=\"alignnone size-full wp-image-552270\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-14.png?resize=1024%2C468\" alt=\"Ethereum Price\" width=\"1024\" height=\"468\" srcset=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-14.png?resize=1024%2C468?w=1835 1835w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-14.png?resize=1024%2C468?w=460 460w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-14.png?resize=1024%2C468?w=768 768w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-14.png?resize=1024%2C468?w=860 860w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-14.png?resize=1024%2C468?w=1536 1536w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-14.png?resize=1024%2C468?w=750 750w, https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-14.png?resize=1024%2C468?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" loading=\"lazy\" data-recalc-dims=\"1\"\/><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener\">ETHUSD on TradingView.com<\/a><\/p>\n<p>The primary resistance is now forming close to $1,660. A detailed above the $1,660 resistance may ship the worth towards the $1,720 resistance. The subsequent main barrier is close to the $1,750 degree. A detailed above the $1,750 degree may ship Ethereum additional greater towards $1,820.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,640 resistance, it might begin one other decline. Initial help on the draw back is close to the $1,600 degree.<\/p>\n<p>A draw back break under $1,600 may speed up losses. The subsequent key help is near $1,540, under which the worth might even check the $1,500 degree. The subsequent key help is $1,440.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is dropping momentum within the bearish zone.<\/p>\n<p>Hourly RSI<strong> \u2013 <\/strong>The RSI for ETH\/USD is now under the 50 degree.<\/p>\n<p>Major Support Level \u2013 $1,600<\/p>\n<p>Major Resistance Level \u2013 $1,640<\/p>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-grinds-lower-1600\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Ethereum worth corrected decrease from the $1,670 resistance in opposition to the US Dollar. ETH might take a serious hit if it breaks the $1,600 help. Ethereum began a bearish wave from the $1,660 resistance. The worth is buying and selling under $1,640 and the 100-hourly Simple Moving Average. There is a key bearish 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