Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Strategy tries to pick up $ 2.1 billion from the supply of STRF shares to strengthen its bitcoin holdings

2025-05-22

Vaneck launches Purposebuilt Fund for Avalanche Projects: Real-World Utility in Focus

2025-05-22

Billionaire Ray Dalio says that FED should not lower rates yet, warns against aggressive relaxation of the monetary policy for the bond market

2025-05-22
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Solana to get a big design prevention

    2025-05-22

    World3 Powers AI-driven Governance on-Chain with Quack AI

    2025-05-22

    Validation Cloud implements AI -Engine on Hedera

    2025-05-22

    Sony announces the Mavet launch of Soneium Blockchain

    2025-05-21

    Nitro Labs launches data anchor to lower the storage costs of Solana

    2025-05-21
  • NFT

    FIFA starts Avalanche L1 to Power Soccer NFT Collectibles Platform

    2025-05-22

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Strategy tries to pick up $ 2.1 billion from the supply of STRF shares to strengthen its bitcoin holdings

    2025-05-22

    Solana (SOL) strives higher with strong copper support, next stop $ 200?

    2025-05-22

    Bitcoin price reaches new all time above $ 111,000

    2025-05-22

    Analyst predicts huge Bitcoin outburst based on one gold graph, sees the Altcoin market following

    2025-05-22

    Bitcoin price rays to New All Time Bulls takes the lead

    2025-05-22
  • Learn

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»Ethereum Bears Hold Strong – Why ETH Could Resume Downtrend Below $1,600
Altcoins

Ethereum Bears Hold Strong – Why ETH Could Resume Downtrend Below $1,600

2023-09-04No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Ethereum price tested the $1,600 zone and is currently recovering against the US Dollar. ETH is facing many hurdles near $1,650 and $1,670.

  • Ethereum started a recovery wave from the $1,600 support level.
  • The price is trading below $1,650 and the 100-hourly Simple Moving Average.
  • There is a connecting bearish trend line forming with resistance near $1,665 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could start a fresh increase unless there is a close above the $1,700 level.

Ethereum Price Faces Key Resistance

Ethereum’s price extended its decline below the $1,650 support zone. ETH price even spiked below the $1,620 and tested the $1,600 handle, like Bitcoin.

A low was formed near $1,600 and the price recently started an upside correction. There was a move above the $1,620 and $1,630 levels. The price climbed above the 23.6% Fib retracement level of the downward move from the $1,748 swing high to the $1,600 low.

Ether is still trading below $1,650 and the 100-hourly Simple Moving Average. Besides, there is a connecting bearish trend line forming with resistance near $1,665 on the hourly chart of ETH/USD.

On the upside, the price might face resistance near the $1,650 level and the 100 hourly SMA. The next resistance is near the $1,660 level and the trend line. It is close to the 50% Fib retracement level of the downward move from the $1,748 swing high to the $1,600 low.

Ethereum Price

Source: ETHUSD on TradingView.com

A close above the $1,665 level might send the price toward the $1,700 zone. To start a fresh increase, Ethereum must settle above the $1,700 pivot level. The next resistance might be near $1,750. Any more gains might send the price toward the $1,800 resistance.

See also  Virtual Leads ai Rally with 83% weekly increase: you should now buy, if ...

Another Decline in ETH?

If Ethereum fails to clear the $1,665 resistance, it could start another decline. Initial support on the downside is near the $1,630 level.

The first key support is close to $1,600. The next major support is near the $1,580 level. If there is a downside break below $1,580, the price could extend its decline toward the $1,540 level. Any more losses might send the price toward the $1,480 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $1,600

Major Resistance Level – $1,665

Source link

Bears Downtrend ETH Ethereum hold Resume strong
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Vaneck launches Purposebuilt Fund for Avalanche Projects: Real-World Utility in Focus

2025-05-22

Solana (SOL) strives higher with strong copper support, next stop $ 200?

2025-05-22

BNB meeting to all time becomes strong, but this crucial zone has to hold

2025-05-22

SPX6900 Rallies 104% – Is $ 1 next, if so, can SPX maintain it?

2025-05-22
Add A Comment

Comments are closed.

Top Posts

ICO whale that turned $1,951 worth of Ethereum into $20,150,000 sends ETH to Coinbase: Lookonchain

2024-11-12

Blocknative’s Cutler explains the pitfalls of private order flow

2023-10-24

Justin Bieber’s NFT investments plummet from millions to mere thousands

2024-04-24
Editors Picks

Why Wrapped Bitcoin on AAVE Soared Past $2 Billion, Explained

2024-09-27

CoinEx benefits from Hong Kong rules after US regulatory woes

2023-05-29

How do you make NFT degeneracy look stylish? Similar…

2023-10-04

Charles Hoskinson fears dystopia and ‘death of the US cryptocurrency industry’ if Kamala Harris is elected

2024-08-27
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Strategy tries to pick up $ 2.1 billion from the supply of STRF shares to strengthen its bitcoin holdings

Vaneck launches Purposebuilt Fund for Avalanche Projects: Real-World Utility in Focus

Billionaire Ray Dalio says that FED should not lower rates yet, warns against aggressive relaxation of the monetary policy for the bond market

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$111,771.593.82%
  • ethereumEthereum(ETH)$2,668.937.08%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.433.15%
  • binancecoinBNB(BNB)$681.542.43%
  • solanaSolana(SOL)$179.616.79%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2420087.05%
  • cardanoCardano(ADA)$0.807.04%
  • tronTRON(TRX)$0.2773102.74%
  • suiSui(SUI)$3.900.74%
  • chainlinkChainlink(LINK)$16.816.86%
  • hyperliquidHyperliquid(HYPE)$32.9120.10%
  • avalanche-2Avalanche(AVAX)$25.3011.52%
  • stellarStellar(XLM)$0.3026565.11%
  • shiba-inuShiba Inu(SHIB)$0.0000155.15%
  • bitcoin-cashBitcoin Cash(BCH)$437.509.25%
  • hedera-hashgraphHedera(HBAR)$0.2045774.62%
  • unus-sed-leoUNUS SED LEO(LEO)$8.871.27%
  • the-open-networkToncoin(TON)$3.164.09%
  • polkadotPolkadot(DOT)$4.955.70%
  • litecoinLitecoin(LTC)$99.294.53%
  • moneroMonero(XMR)$396.137.11%
  • bitget-tokenBitget Token(BGB)$5.220.80%
  • pepePepe(PEPE)$0.0000144.59%
  • piPi(PI)$0.821.89%
  • daiDai(DAI)$1.000.01%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • bittensorBittensor(TAO)$472.649.72%
  • uniswapUniswap(UNI)$6.454.79%
  • aaveAave(AAVE)$256.943.04%
  • nearNEAR Protocol(NEAR)$3.089.76%
  • aptosAptos(APT)$5.6910.01%
  • ondo-financeOndo(ONDO)$1.026.56%
  • okbOKB(OKB)$52.820.85%
  • official-trumpOFFICIAL TRUMP(TRUMP)$15.7712.44%
  • kaspaKaspa(KAS)$0.1181845.32%
  • internet-computerInternet Computer(ICP)$5.667.44%
  • ethereum-classicEthereum Classic(ETC)$19.786.25%
  • render-tokenRender(RENDER)$5.1911.01%
  • gatechain-tokenGateToken(GT)$21.790.96%
  • crypto-com-chainCronos(CRO)$0.1005304.70%
  • vechainVeChain(VET)$0.0305757.82%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2501005.93%
  • mantleMantle(MNT)$0.763.36%
  • ethenaEthena(ENA)$0.4192976.28%
  • worldcoin-wldWorldcoin(WLD)$1.5634.99%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • arbitrumArbitrum(ARB)$0.4330567.97%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.8811.89%
  • bitcoinBitcoin(BTC)$111,771.593.82%
  • ethereumEthereum(ETH)$2,668.937.08%
  • tetherTether USDt(USDT)$1.00-0.03%
  • rippleXRP(XRP)$2.433.15%
  • binancecoinBNB(BNB)$681.542.43%
  • solanaSolana(SOL)$179.616.79%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.2420087.05%
  • cardanoCardano(ADA)$0.807.04%
  • tronTRON(TRX)$0.2773102.74%
  • suiSui(SUI)$3.900.74%
  • chainlinkChainlink(LINK)$16.816.86%
  • hyperliquidHyperliquid(HYPE)$32.9120.10%
  • avalanche-2Avalanche(AVAX)$25.3011.52%
  • stellarStellar(XLM)$0.3026565.11%
  • shiba-inuShiba Inu(SHIB)$0.0000155.15%
  • bitcoin-cashBitcoin Cash(BCH)$437.509.25%
  • hedera-hashgraphHedera(HBAR)$0.2045774.62%
  • unus-sed-leoUNUS SED LEO(LEO)$8.871.27%
  • the-open-networkToncoin(TON)$3.164.09%
  • polkadotPolkadot(DOT)$4.955.70%
  • litecoinLitecoin(LTC)$99.294.53%
  • moneroMonero(XMR)$396.137.11%
  • bitget-tokenBitget Token(BGB)$5.220.80%
  • pepePepe(PEPE)$0.0000144.59%
  • piPi(PI)$0.821.89%
  • daiDai(DAI)$1.000.01%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • bittensorBittensor(TAO)$472.649.72%
  • uniswapUniswap(UNI)$6.454.79%
  • aaveAave(AAVE)$256.943.04%
  • nearNEAR Protocol(NEAR)$3.089.76%
  • aptosAptos(APT)$5.6910.01%
  • ondo-financeOndo(ONDO)$1.026.56%
  • okbOKB(OKB)$52.820.85%
  • official-trumpOFFICIAL TRUMP(TRUMP)$15.7712.44%
  • kaspaKaspa(KAS)$0.1181845.32%
  • internet-computerInternet Computer(ICP)$5.667.44%
  • ethereum-classicEthereum Classic(ETC)$19.786.25%
  • render-tokenRender(RENDER)$5.1911.01%
  • gatechain-tokenGateToken(GT)$21.790.96%
  • crypto-com-chainCronos(CRO)$0.1005304.70%
  • vechainVeChain(VET)$0.0305757.82%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2501005.93%
  • mantleMantle(MNT)$0.763.36%
  • ethenaEthena(ENA)$0.4192976.28%
  • worldcoin-wldWorldcoin(WLD)$1.5634.99%
  • usd1World Liberty Financial USD(USD1)$1.00-0.01%
  • arbitrumArbitrum(ARB)$0.4330567.97%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.8811.89%