Ethereum\u2019s long-term struggle to remain above $1,620 has failed as the price was unable to reach the 50 EMA resistance near $1,676 and declined below the $1.6K region. Technically, the price rejecting to exceed the $1,620 level will suggest mode downside movements at this point.<\/p>\n\n\n\n
If the ETH moves above $1,600, the price may still counter massive supplies waiting near the resistance at $1,712. So, there remains a possibility that ETH\/USD can retest the $1.7K zone before rejoining the current downtrend. Alternatively, failing to exceed the $1.6K level will print a bearish trend continuation pattern on the daily chart. In such a case, traders may look to sell on pullbacks near $1,620 and may set the $1,508 level as an initial trade-exit point.<\/p>\n","post_title":"Bitcoin And Ethereum Technical Analysis: BTC Bullish Move Denied Above $27K, And ETH Breaks The Support At $1.6K \u2013 Expecting An Extension Of The Current Downtrend","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-and-ethereum-technical-analysis-btc-bullish-move-denied-above-27k-and-eth-breaks-the-support-at-1-6k-expecting-an-extension-of-the-current-downtrend-2","to_ping":"","pinged":"","post_modified":"2023-10-05 00:34:50","post_modified_gmt":"2023-10-04 13:34:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=13667","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};