Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hreflang-tags-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
[www-stage.newsbtc.com/news/ethereum/ethereum-price-hints-correction-1750/amp/]
[wp-includes/functions.php:6121 trigger_error(), wp-includes/functions.php:6061 wp_trigger_error(), wp-includes/l10n.php:1371 _doing_it_wrong(), wp-includes/l10n.php:1409 _load_textdomain_just_in_time(), wp-includes/l10n.php:195 get_translations_for_domain(), wp-includes/l10n.php:307 translate(), wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php:24 __(), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php:45 include_once('wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php'), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php:40 require_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php'), wp-settings.php:545 include_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php'), wp-config.php:53 require_once('wp-settings.php'), wp-load.php:50 require_once('wp-config.php'), wp-blog-header.php:13 require_once('wp-load.php'), index.php:17 require('wp-blog-header.php')]

Ethereum Price Hints At Potential Correction, Buy The Dip?

Ethereum Price Hints At Potential Correction, Buy The Dip?

Ethereum

Ethereum price started a downside correction from the $1,866 high against the US dollar. ETH must stay above the $1,750 support to start a fresh increase.

Ethereum Price Signals Downside Correction

Ethereum attempted a fresh increase above the $1,820 level. ETH even cleared the $1,850 resistance, but the upsides were limited. The price traded as high as $1,866 and recently started a downside correction, like Bitcoin.

There was a move below the $1,810 and $1,800 levels. Besides, there was a break below a key bullish trend line with support near $1,810 on the hourly chart of ETH/USD. The pair traded close to the $1,750 support before the bulls emerged.

A low is formed near $1,763 and the price is now consolidating. It is trading near the 23.6% Fib retracement level of the downside correction from the $1,866 swing high to the $1,763 low.

Ethereum is now trading above $1,750 and the 100-hourly Simple Moving Average. On the upside, the price is facing resistance near the $1,815 level. It is close to the 50% Fib retracement level of the downside correction from the $1,866 swing high to the $1,763 low.

Source: ETHUSD on TradingView.com

The first major resistance is near the $1,850 zone. A close above the $1,850 resistance could start a decent increase. In the stated case, Ether could surpass $1,865 and test $1,920. The next key resistance is near $1,950, above which the price could accelerate higher. In the stated case, the price could rise toward the $2,000 level.

More Losses in ETH?

If Ethereum fails to clear the $1,815 resistance, it could start another decline. Initial support on the downside is near the $1,765 level.

The next key support is $1,750 and the 100-hourly Simple Moving Average. A downside break below the $1,750 support might send the price further lower. In the stated case, Ether could drop toward the $1,700 level.

Technical Indicators

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

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

Major Support Level – $1,750

Major Resistance Level – $1,815

Exit mobile version