{"id":127998,"date":"2021-06-08T08:09:43","date_gmt":"2021-06-08T08:09:43","guid":{"rendered":"https:\/\/precoinnews.com\/?p=127998"},"modified":"2021-06-08T08:09:43","modified_gmt":"2021-06-08T08:09:43","slug":"ethereum-price-analysis-eth-breaks-key-support-could-revisit-2k","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ethereum-price-analysis-eth-breaks-key-support-could-revisit-2k\/","title":{"rendered":"Ethereum Price Analysis: ETH Breaks Key Support, Could Revisit $2K"},"content":{"rendered":"
Ethereum price is slowly moving lower below $2,500 against the US Dollar. ETH\/USD could extend losses as long as it is below the $2,600 support zone.<\/em><\/p>\n Recently, ethereum made a few attempts to gain pace above $2,800 and $2,850 against the US Dollar. However, ETH failed to continue higher and started a fresh decline below $2,750.<\/p>\n There was a break below the $2,700 and $2,650 support levels. The bears were able to push the price below $2,600 and the 55 simple moving average (4-hours). There was also a break below a key bullish trend line with support near $2,780 on the 4-hours chart.<\/p>\n The pair is now trading below the 50% Fib retracement level of the upward move from the $2,188 swing low to $2,894 high.<\/p>\n An immediate support on the downside is near the $2,480 level. It is close to the 61.8% retracement level of the upward move from the $2,188 swing low to $2,894 high. The next major support is near the $2,300 level. Any more losses could set the pace for a drop towards the $2,000 support zone in the near term.<\/p>\n An immediate resistance on the upside is near the $2,580 level. The next major resistance is near the $2,620 level and the 55 simple moving average (4-hours). A clear break above the $2,620 zone could start a strong increase. In the stated case, the price could revisit the $2,800 resistance zone.<\/p>\n <\/p>\n Ethereum Price<\/p>\n Looking at the chart, Ethereum price is clearly trading well below the $2,600 level and the 55 simple moving average (4-hours). Overall, ether price is likely to continue lower towards $2,300 or even $2,000 in the near term.<\/p>\n 4 hours MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n 4 hours RSI (Relative Strength Index) \u2013 The RSI for ETH\/USD is now well below the 50 level.<\/p>\n Key Support Levels \u2013 $2,300, followed by the $2,000 zone.<\/p>\n Key Resistance Levels \u2013 $2,620 and $2,800.<\/p>\nEthereum Price Analysis<\/h2>\n
Technical indicators<\/h2>\n