Ethereum

Cryptocurrency

<div class="coinidol"> 
 <div class="info"> 
  <div class="news_info">
   Sep 18, 2023 at 07:49 // Price 
  </div> 
  <div class="author-box"> 
   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span> 
  </div> 
 </div> 
 <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/dfd/900_900_1/84yjaj4u2yuvzg6gh99w747ez1d83js9.jpg" width="900" height="563" alt="Recently, Ether has been struggling with rejection" title=""> 
 <p><strong>Cryptocurrency analysts of Coinidol.com report, the Ethereum price (ETH), which last fell on September 11, is currently in an upward correction.</strong></p> 
 <h2 style="text-align: justify;" id="long-term-analysis-of-the-ethereum-price-bearish">Long-term analysis of the Ethereum price: bearish </h2> 
 <p style="text-align: justify;"> </p> 
 <p style="text-align: justify;"> The largest altcoin experienced a decline to a low of $1,532 before rebounding. Although it reached a high of $1,654, the upward correction failed to break above the 21-day line SMA. Recently, Ether has been struggling with rejection. The largest altcoin has been bumped upwards from either the 21-day line SMA or the barrier at $1,650. The market is overbought near the recent high. The downside is that the price of Ether is now trading below the barrier. The cryptocurrency's decline will approach its previous low of $1,532 or $1,517 if selling pressure picks up again. </p> 
 <h2 style="text-align: justify;" id="ethereum-indicator-analysis"> Ethereum indicator analysis </h2> 
 <p style="text-align: justify;"> </p> 
 <p style="text-align: justify;"> For the period 14, Ether is in the downtrend zone at the Relative Strength Index level of 45. The price bars are encountering resistance as the altcoin is trapped at the 21-day line SMA. Ether has pulled back from the overbought zone. It is below the daily stochastic level of 40. </p> 
 <p style="text-align: justify;"> <img width="980" alt="ETHUSD_(Daily Chart) – Sept. 17.23.jpg" src="https://cdn.thebittimes.com/images/2023/09/18/d1856b305a953eba2519d4daf44152a1.webp" height="544" title="ETHUSD_(Daily Chart) – Sept. 17.23.jpg"><br> </p> 
 <p style="text-align: justify;"> <b>Key resistance levels – $1,800 and $2,000 </b> </p> 
 <p style="text-align: justify;"> <b> </b> </p> 
 <p style="text-align: justify;"> <b> Key support levels – $1,600 and $1,400</b> </p> 
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-ethereum">What is the next direction for Ethereum? </h2> 
 <p style="text-align: justify;"> </p> 
 <p style="text-align: justify;"> The upside correction was trapped at the 21-day line SMA last week. After being rejected at the moving average lines, Ether is currently bearish. Ether is currently trading in a limited range between $1,500 and $1,650. If this trading range is broken, the largest altcoin will develop a trend. </p> 
 <p style="text-align: justify;"> <img width="980" alt="ETHUSD_(4 hour Chart) – Sept. 17.23.jpg" src="https://cdn.thebittimes.com/images/2023/09/18/efff3f7901f9d5b2089bee988ecb2d96.webp" height="545" title="ETHUSD_(4 hour Chart) – Sept. 17.23.jpg"><br> </p> 
 <p style="text-align: justify;"> On September 15, 2023 cryptocurrency analytics specialists of Coinidol.com stated that since July, the 21-day line SMA has been the resistance line of the price. Ether recovered and reached a high of $1,748 on August 29.&nbsp; </p> 
 <p style="text-align: justify;"> <i><span style="color: #a0a0a0;">Disclaimer.&nbsp;This <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i> </p> 
 <p style="text-align: justify;"> </p> 
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ethereum-falls-in-value-as-it-faces-rejection-at-1-650-tbt63077.html">https://thebittimes.com/ethereum-falls-in-value-as-it-faces-rejection-at-1-650-tbt63077.html</a></p>

Ethereum Falls In Value As It Faces Rejection At $1,650

Table of Contents

TheBitTimes

Other articles published on Sep 18, 2023

John Deaton Sees Positive Potential in Norman Reed Leading Binance US

Ethereum’s Gas Usage Declines, Transaction Fees Hit Three-Month Low

Next Goldrush: Is This Teen Bitcoin Millionaire Choosing His Next Big Bet?

Coin Metrics co-founder debunks Bitcoin flipping Visa in transactions

Bitcoin Dominance Back Above 50% as Altcoins Struggle

Crypto Market Analysis: Prepare for a Volatile Week, Signs of a Possible Drop!

Join our free newsletter for daily crypto updates!