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  • Writer's pictureDavid Manion

Ethereum price bearish, targets $1,500.


Ethereum price bearish, targets $1,500.
Ethereum price bearish, targets $1,500.

Ethereum price declined heavily below $1,800 and $1,700 against the US Dollar. ETH could resume its decline and test the $1,500 support zone. Ethereum price bearish, targets $1,500.

  • Ethereum is gaining bearish momentum below the $1,750 and $1,800 resistance levels.

  • The price is trading below $1,750 and the 100-hourly Simple Moving Average.

  • There is a key bearish trend line forming with resistance near $1,750 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could resume its decline and visit the $1,500 support in the near term.

Ethereum price bearish, targets $1,500. Ethereum Price Nosedives

Ethereum experienced a significant decline in price following the breakdown of the $1,800 support zone. The bears were able to push the price below key levels, including $1,720 and $1,600, eventually testing the $1,520 zone. However, the price has since attempted a recovery wave, trading above the 50% Fib retracement level of the downward move from the $1,826 swing high to the $1,517 low. Despite this, Ether is currently trading below $1,750 and the 100-hourly Simple Moving Average, with a key bearish trend line forming with resistance near $1,750 on the hourly chart of ETH/USD. The price may face resistance near the $1,700 level, followed by $1,750 or the trend line.


Source: ETHUSD on TradingView.com
Source: ETHUSD on TradingView.com


A close above the $1,750 level could start a decent increase in the near term. The next major resistance is near the $1,800 level and the 100-hourly Simple Moving Average. Any more gains might send the price toward the $1,820 resistance, above which the price could rise toward the $1.880 zone.


Fresh Decline in ETH?

If Ethereum fails to clear the $1,750 resistance, it could continue to move down. Initial support on the downside is near the $1,620 level.


The first major support is near the $1,550 zone. If the bulls fail to protect the $1,550 support, there could be more losses. The next major support is near the $1,520 support level. Any more losses might send the price toward the $1,500 level in the near term.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 level.

Major Support Level – $1,620

Major Resistance Level – $1,750


Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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