Ethereum Dives Below $1,500, Why Recovery Could Be Capped?

skrimon

Well-known member
Ethereum started a significant decline below the $1,600 zone against the US Dollar. ETH even declined below $1,500, and any recovery could face hurdles.

Ethereum extended its drop below the $1,600 and $1,500 levels. The price now trades below $1,500 and the 100 hourly simple moving average.

A critical bearish trend line is forming with resistance near $1,480 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher, but upsides might be limited above $1,500.

Ethereum Price Takes Hit
Ethereum failed to gain pace above the $1,660 and $1,675 resistance levels. ETH started a fresh decline and traded below the critical $1,600 support zone.

P.S: If you're fed up with slow trade executions, then buckle up as AssetsFX is currently offering lightning-fast trade executions along with an ultra-wide range of trading opportunities!

It opened the doors for a move below the $1,550 and $1,500 support levels. Ether's price settled below the $1,500 and 100 hourly simple moving average.

A low was formed near the $1,423 level, and the price is now correcting losses. Immediate resistance on the upside is near the $1,460 level.

The first significant resistance is now forming near the $1,480 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,707 swing high to $1,423 low.


A critical bearish trend line is forming with resistance near $1,480 on the hourly chart of ETH/USD. The next significant resistance is near the $1,540 level and the 100 hourly simple moving average.

The 50% Fib retracement level of the recent decline from the $1,707 swing high to the $1,423 low is also near the $1,565 station.

A clear move above the $1,565 level might send the price towards $1,600 resistance. Any more gains may open the doors to test the $1,650 resistance.
Thanks For Reading!
 
Ethereum started a significant decline below the $1,600 zone against the US Dollar. ETH even declined below $1,500, and any recovery could face hurdles.

Ethereum extended its drop below the $1,600 and $1,500 levels. The price now trades below $1,500 and the 100 hourly simple moving average.

A critical bearish trend line is forming with resistance near $1,480 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher, but upsides might be limited above $1,500.

Ethereum Price Takes Hit
Ethereum failed to gain pace above the $1,660 and $1,675 resistance levels. ETH started a fresh decline and traded below the critical $1,600 support zone.

P.S: If you're fed up with slow trade executions, then buckle up as AssetsFX is currently offering lightning-fast trade executions along with an ultra-wide range of trading opportunities!

It opened the doors for a move below the $1,550 and $1,500 support levels. Ether's price settled below the $1,500 and 100 hourly simple moving average.

A low was formed near the $1,423 level, and the price is now correcting losses. Immediate resistance on the upside is near the $1,460 level.

The first significant resistance is now forming near the $1,480 level. It is near the 23.6% Fib retracement level of the recent decline from the $1,707 swing high to $1,423 low.


A critical bearish trend line is forming with resistance near $1,480 on the hourly chart of ETH/USD. The next significant resistance is near the $1,540 level and the 100 hourly simple moving average.

The 50% Fib retracement level of the recent decline from the $1,707 swing high to the $1,423 low is also near the $1,565 station.

A clear move above the $1,565 level might send the price towards $1,600 resistance. Any more gains may open the doors to test the $1,650 resistance.
Thanks For Reading!

⚠️⚠️"𝐖𝐄𝐋𝐂𝐎𝐌𝐄 𝐓𝐎 𝐒𝐀𝐘 𝐍𝐎 𝐓𝐎 𝐒𝐂𝐀𝐌"⚠️⚠️ 𝐄𝐗𝐏𝐎𝐒𝐄, 𝐓𝐑𝐀𝐂𝐊, 𝐋𝐎𝐂𝐀𝐓𝐄, 𝐏𝐔𝐍𝐈𝐒𝐇, 𝐁𝐀𝐍 𝐒𝐂𝐀𝐌𝐌𝐄𝐑𝐒 𝐀𝐍𝐃 𝐁𝐑𝐈𝐍𝐆 𝐉𝐔𝐒𝐓𝐈𝐂𝐄 𝐓𝐎 𝐓𝐇𝐄 𝐕𝐈𝐂𝐓𝐈𝐌"🏅

𝙄𝙛 𝙮𝙤𝙪'𝙧𝙚 𝙖 𝙨𝙘𝙖𝙢 𝙫𝙞𝙘𝙩𝙞𝙢 𝙤𝙛 𝙖𝙣𝙮 𝙨𝙤𝙧𝙩 𝙧𝙚𝙥𝙤𝙧𝙩 𝙮𝙤𝙪𝙧 𝙘𝙖𝙨𝙚 𝙩𝙤 @Vravmo00 𝙤𝙣 𝙄𝙣𝙨𝙩𝙖𝙜𝙧𝙖𝙢 𝙝𝙚 𝙬𝙞𝙡𝙡 𝙝𝙚𝙡𝙥 𝙮𝙤𝙪 𝙩𝙧𝙖𝙘𝙚 𝙩𝙝𝙚 𝙨𝙤𝙪𝙧𝙘𝙚 𝙤𝙛 𝙩𝙝𝙚 𝙩𝙧𝙖𝙣𝙨𝙖𝙘𝙩𝙞𝙤𝙣 𝙖𝙣𝙙 𝙧𝙚𝙘𝙤𝙫𝙚𝙧 𝙮𝙤𝙪𝙧 𝙢𝙤𝙣𝙚𝙮 𝙛𝙤𝙧 𝙮𝙤𝙪. 𝘼𝙨 𝙡𝙤𝙣𝙜 𝙖𝙨 𝙮𝙤𝙪 𝙝𝙖𝙫𝙚 𝙩𝙝𝙚 𝙚𝙫𝙞𝙙𝙚𝙣𝙘𝙚 𝙤𝙛 𝙥𝙖𝙮𝙢𝙚𝙣𝙩, 𝙞𝙩'𝙨 𝙣𝙤𝙩 𝙩𝙤𝙤 𝙡𝙖𝙩𝙚 𝙩𝙤 𝙜𝙚𝙩 𝙮𝙤𝙪𝙧 𝙢𝙤𝙣𝙚𝙮 𝙗𝙖𝙘𝙠...

🎤🎤𝑹𝑬𝑴𝑬𝑴𝑩𝑬𝑹 𝒀𝑶𝑼𝑹
𝑪𝑹𝒀𝑷𝑻𝑶𝑪𝑼𝑹𝑹𝑬𝑵𝑪𝒀 𝑰𝑺𝑵'𝑻 𝑳𝑶𝑺𝑻, 𝑱𝑼𝑺𝑻 𝑰𝑵𝑨𝑪𝑪𝑬𝑺𝑺𝑰𝑩𝑳𝑬. 𝑾𝑬 𝑴𝑨𝑲𝑬 𝑰𝑻 𝑹𝑬𝑨𝑪𝑯𝑨𝑩𝑳𝑬 𝑨𝑮𝑨𝑰𝑵.

𝑪𝑶𝑵𝑻𝑨𝑪𝑻 𝑶𝑼𝑹 𝑻𝑹𝑨𝑰𝑵𝑬𝑫 𝑻𝑬𝑨𝑴 𝑶𝑭 𝑺𝑬𝑪𝑼𝑹𝑰𝑻𝒀 𝑬𝑿𝑷𝑬𝑹𝑻𝑺 𝑻𝑶𝑫𝑨𝒀 𝑨𝑵𝑫 𝑹𝑬𝑻𝑹𝑰𝑬𝑽𝑬 𝒀𝑶𝑼 𝑪𝑶𝑰𝑵𝑺 𝑻𝑶𝑴𝑶𝑹𝑹𝑶𝑾

𝑩𝒊𝒕𝒄𝒐𝒊𝒏 𝒓𝒆𝒗𝒆𝒓𝒔𝒆 𝒕𝒓𝒂𝒏𝒔𝒂𝒄𝒕𝒊𝒐𝒏 𝒔𝒐𝒇𝒕𝒘𝒂𝒓𝒆 𝒏𝒐𝒘 𝒂𝒗𝒂𝒊𝒍𝒂𝒃𝒍ehttps://instagram.com/vravmo00?igshid=YmMyMTA2M2Y=

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