{"id":15476,"date":"2024-10-22T04:18:23","date_gmt":"2024-10-22T04:18:23","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=15476"},"modified":"2024-10-22T04:18:23","modified_gmt":"2024-10-22T04:18:23","slug":"ethereum-price-dips-again-will-bulls-step-in-to-protect-the-trend","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=15476","title":{"rendered":"Ethereum Price Dips Again: Will Bulls Step In to Protect the Trend?"},"content":{"rendered":"

Ethereum price struggled to continue higher above the $2,750 resistance. ETH started a downside correction and traded below the $2,680 support.<\/em><\/p>\n

Ethereum started a downside correction below the $2,680 support.
\nThe price is trading below $2,650 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support near $2,680 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it clears the $2,650 and $2,680 resistance levels.<\/p>\n

Ethereum Price Trims Gains<\/h2>\n

Ethereum price remained stable above the $2,620 level like Bitcoin<\/a>. ETH extended gains above the $2,650 resistance level to move further into a positive zone.<\/p>\n

However, the bears remained active near the $2,765 level. A high was formed at $2,765 and the price started a downside correction<\/a>. There was a break below a key bullish trend line with support near $2,680 on the hourly chart of ETH\/USD.<\/p>\n

The pair dipped below the $2,650 level. A low was formed at $2,626 and the price is now consolidating near the 23.6% Fib retracement level of the downward move from the $2,757 swing high to the $2,626 low.<\/p>\n

Ethereum price is now trading below $2,680 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,665 level. The first major resistance is near the $2,700 level. It is close to the 50% Fib retracement level of the downward move from the $2,757 swing high to the $2,626 low.<\/p>\n

<\/a><\/p>\n

A clear move above the $2,700 resistance might send the price toward the $2,725 resistance. An upside break above the $2,725 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,780 resistance zone in the near term. The next hurdle sits near the $2,840 level or $2,880.<\/p>\n

More Downsides In ETH?<\/h2>\n

If Ethereum fails to clear the $2,680 resistance, it could start another decline. Initial support on the downside is near the $2,625 level. The first major support sits near the $2,600 zone.<\/p>\n

A clear move below the $2,600 support might push the price toward $2,550. Any more losses might send the price toward the $2,500 support level in the near term. The next key support sits at $2,440.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n

Major Support Level \u2013 $2,600<\/p>\n

Major Resistance Level \u2013 $2,680<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price struggled to continue higher above the $2,750 resistance. ETH started a downside correction and traded below the $2,680 support. Ethereum started a downside correction below the $2,680 support. The price is trading below $2,650 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support near […]<\/p>\n","protected":false},"author":0,"featured_media":15477,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-15476","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15476"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15476"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/15476\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/15477"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15476"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15476"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15476"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}