{"id":121921,"date":"2021-04-20T06:42:25","date_gmt":"2021-04-20T06:42:25","guid":{"rendered":"https:\/\/precoinnews.com\/?p=121921"},"modified":"2021-04-20T06:42:25","modified_gmt":"2021-04-20T06:42:25","slug":"ta-ethereum-resumes-decline-heres-how-the-bears-could-take-control","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-resumes-decline-heres-how-the-bears-could-take-control\/","title":{"rendered":"TA: Ethereum Resumes Decline, Here\u2019s How The Bears Could Take Control"},"content":{"rendered":"<p><em>Ethereum failed to recover above the $2,300 resistance zone against the US Dollar. ETH price is moving lower and it is likely to accelerate lower below the $2,000 support.<\/em><\/p>\n<ul>\n<li>Ethereum failed to move above the $2,300 zone and started a fresh decline.<\/li>\n<li>The price is now trading well below $2,200 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $2,180 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is likely to break the $2,000 support and continue lower in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Is Declining<\/h2>\n<p>Ethereum started a short-term recovery wave above the $2,100 level. ETH broke the $2,200 resistance level, but the bulls struggled to gain strength, similar to bitcoin.<\/p>\n<p>It faced a strong selling interest near the $2,280 and $2,300 levels. A high was formed near $2,281 before the price started a fresh decline. It broke the 50% Fib retracement level of the upward move from the $1,953 swing low to $2,281 high.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/spring-cta-2.gif\" \/><br \/>\n<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/03\/AD2_728x90.gif\" \/><\/p>\n<p>It is now trading well below $2,200 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $2,180 on the hourly chart of ETH\/USD.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/04\/Ethereum-12.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>An immediate support is near the $2,040 level. It is near the 76.4% Fib retracement level of the upward move from the $1,953 swing low to $2,281 high. A downside break below the $2,040 level may possibly open the doors for more losses. The next major support is near the $2,000 level, below which the price could dive towards the $1,920 and $1,900 levels.<\/p>\n<h2>Upsides Limited in ETH?<\/h2>\n<p>If Ethereum stays above the $2,040 and $2,000 support levels, it could start a fresh increase. An initial resistance on the upside is near the $2,150 level.<\/p>\n<p>The first major resistance is now forming near the trend line and $2,160. A clear break above the trend line resistance could lead the price towards the main $2,280 resistance and the 100 hourly simple moving average. Ether must settle above $2,280 and $2,300 to move back into a positive zone in the coming days.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> &ndash; <\/strong>The MACD for ETH\/USD is slowly gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &ndash; <\/strong>The RSI for ETH\/USD is now well below the 50 level.<\/p>\n<p>Major Support Level &ndash; $2,040<\/p>\n<p>Major Resistance Level &ndash; $2,160<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-resumes-decline-2k\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum failed to recover above the $2,300<\/p>\n","protected":false},"author":3,"featured_media":121920,"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 v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TA: Ethereum Resumes Decline, Here\u2019s How The Bears Could Take Control - 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