{"id":194090,"date":"2023-09-25T05:39:22","date_gmt":"2023-09-25T05:39:22","guid":{"rendered":"https:\/\/tokenstalk.info\/?p=194090"},"modified":"2023-09-25T05:39:22","modified_gmt":"2023-09-25T05:39:22","slug":"ethereum-price-just-saw-bearish-breakdown-can-bulls-save-the-day","status":"publish","type":"post","link":"https:\/\/tokenstalk.info\/crypto\/ethereum-price-just-saw-bearish-breakdown-can-bulls-save-the-day\/","title":{"rendered":"Ethereum Price Just Saw Bearish Breakdown: Can Bulls Save The Day?"},"content":{"rendered":"<p><em>Ethereum price dropped further below $1,600 against the US Dollar. ETH is in the red zone and might dive toward the $1,500 support zone.<\/em><\/p>\n<ul>\n<li>Ethereum is gaining pace below the $1,600 support zone.<\/li>\n<li>The price is trading below $1,600 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $1,600 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is struggling and might dive further toward the $1,500 support in the short term.<\/li>\n<\/ul>\n<h2>Ethereum Price Extends Losses<\/h2>\n<p>Ethereum\u2019s price remained in a bearish zone below the $1,660 and $1,670 resistance levels. ETH declined below the $1,600 support level to move further enter a bearish zone, like Bitcoin.<\/p>\n<p>The price even declined below the $1,580 level and settled below the 100-hourly Simple Moving Average. A low was formed near $1,571 and the price is now consolidating losses. The price is testing the 23.6% Fib retracement level of the recent decline from the $1,600 swing high to the $1,571 low.<\/p>\n<p>Ether is now trading below $1,580 and the 100-hourly Simple Moving Average. There is also a key bearish trend line forming with resistance near $1,600 on the hourly chart of ETH\/USD.<\/p>\n<p>On the upside, the price might face resistance near the $1,590 level. It is close to the 61.8% Fib retracement level of the recent decline from the $1,600 swing high to the $1,571 low. The next major resistance is near $1,600 and the trend line.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2023\/09\/Ethereum-16.png?resize=1024%2C468\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The main hurdle is now forming near $1,620. A close above the $1,620 resistance might send the price toward the $1,650 resistance. If the bulls pump Ethereum above $1,650, the price could rise toward $1,720. Any more gains might open the doors for a move toward $1,820.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If Ethereum fails to clear the $1,600 resistance, it could start another decline. Initial support on the downside is near the $1,570 level.<\/p>\n<p>The next key support is $1,540. A downside break below $1,540 might push the price further into a bearish zone. In the stated case, there could be a drop toward the $1,500 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $1,570<\/p>\n<p>Major Resistance Level \u2013 $1,600<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-price-breakdown-1600\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price dropped further below $1,600 against the US Dollar. ETH is in the red&#8230;<\/p>\n","protected":false},"author":4,"featured_media":194089,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Price Just Saw Bearish Breakdown: Can Bulls Save The Day? - Tokens Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tokenstalk.info\/crypto\/ethereum-price-just-saw-bearish-breakdown-can-bulls-save-the-day\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Just Saw Bearish Breakdown: Can Bulls Save The Day? - Tokens Talk\" \/>\n<meta property=\"og:description\" content=\"Ethereum price dropped further below $1,600 against the US Dollar. 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