The price has even dropped below the $1,200 mark and currently testing minor support around $1,180. There was a minimal increase above $1,192 since the price rose above the 23.6% Fibo retracement zone of the decline, from the $1,232 (swing high) to the $1,180 low.<\/p>\n\n\n\n
Furthermore, the Relative Strength Index has already held below 50 and moving under the 14 SMA level, suggesting a bearish momentum.<\/p>\n\n\n\n
Ethereum is expected to encounter trendline support near $1,100 if it decides on another downside rally under the current bearish trend. In case the price breaks, the trendline support, the $1,000 price level will be considered as an ultimate support zone.<\/p>\n","post_title":"$ETH Remains Bearish And May Push $1000 By January 2023 \u2013 Ethereum Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"eth-remains-bearish-and-may-push-1000-by-january-2023-ethereum-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 17:46:28","post_modified_gmt":"2023-04-10 07:46:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9154","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"};
Ethereum rejected the current trendline resistance on November 5th, indicating the price has no intention to reverse for a bullish trend anytime soon. Instead, the price dropped below the 100 EMA on November 8th and continues to consolidate below the current pivot resistance at $1350.<\/p>\n\n\n\n
The price has even dropped below the $1,200 mark and currently testing minor support around $1,180. There was a minimal increase above $1,192 since the price rose above the 23.6% Fibo retracement zone of the decline, from the $1,232 (swing high) to the $1,180 low.<\/p>\n\n\n\n
Furthermore, the Relative Strength Index has already held below 50 and moving under the 14 SMA level, suggesting a bearish momentum.<\/p>\n\n\n\n
Ethereum is expected to encounter trendline support near $1,100 if it decides on another downside rally under the current bearish trend. In case the price breaks, the trendline support, the $1,000 price level will be considered as an ultimate support zone.<\/p>\n","post_title":"$ETH Remains Bearish And May Push $1000 By January 2023 \u2013 Ethereum Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"eth-remains-bearish-and-may-push-1000-by-january-2023-ethereum-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 17:46:28","post_modified_gmt":"2023-04-10 07:46:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9154","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"};
Ethereum rejected the current trendline resistance on November 5th, indicating the price has no intention to reverse for a bullish trend anytime soon. Instead, the price dropped below the 100 EMA on November 8th and continues to consolidate below the current pivot resistance at $1350.<\/p>\n\n\n\n
The price has even dropped below the $1,200 mark and currently testing minor support around $1,180. There was a minimal increase above $1,192 since the price rose above the 23.6% Fibo retracement zone of the decline, from the $1,232 (swing high) to the $1,180 low.<\/p>\n\n\n\n
Furthermore, the Relative Strength Index has already held below 50 and moving under the 14 SMA level, suggesting a bearish momentum.<\/p>\n\n\n\n
Ethereum is expected to encounter trendline support near $1,100 if it decides on another downside rally under the current bearish trend. In case the price breaks, the trendline support, the $1,000 price level will be considered as an ultimate support zone.<\/p>\n","post_title":"$ETH Remains Bearish And May Push $1000 By January 2023 \u2013 Ethereum Technical Analysis","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"eth-remains-bearish-and-may-push-1000-by-january-2023-ethereum-technical-analysis","to_ping":"","pinged":"","post_modified":"2023-04-10 17:46:28","post_modified_gmt":"2023-04-10 07:46:28","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=9154","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"};