Ethereum

Resistance

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<ul> 
 <li>Ethereum remained in the bearish zone below the $1,580 resistance area. ETH failed to stay above the crucial $1,550 support.</li> 
 <li>The price formed a new weekly low at $1,521. After settling below the $1,600 level, it appears to be moving slowly downward.</li> 
 <li>Clearly breaking the $1,570 resistance could send the price towards the critical $1,600 resistance. In this case, Ether could rise and recover towards the $1,665 resistance.</li> 
</ul> 
<p><strong>Ethereum has recently experienced significant downside pressure: What will happen next? Current analysis of the ETH coin price!</strong></p> 
<h2 id="strong-struggling-to-hold-ethereum-support-strong"><strong>Struggling to Hold Ethereum Support</strong></h2> 
<p><img decoding="async" loading="lazy" class="alignnone size-full wp-image-126574" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ethereum-ETH-3.webp?resize=696%2C392&amp;quality=70&amp;ssl=1" alt="Ethereum-ETH" width="696" height="392" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ethereum-ETH-3.webp?w=1280&amp;quality=70&amp;ssl=1 1280w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ethereum-ETH-3.webp?resize=300%2C169&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ethereum-ETH-3.webp?resize=1024%2C576&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ethereum-ETH-3.webp?resize=768%2C432&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ethereum-ETH-3.webp?resize=150%2C84&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ethereum-ETH-3.webp?resize=696%2C392&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/09/Ethereum-ETH-3.webp?resize=1068%2C601&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></p> 
<p>Ethereum remained in the bearish zone below the $1,580 resistance area. ETH failed to stay above the crucial $1,550 support and extended its decline in a different direction from Bitcoin.</p> 
<p>The price formed a new weekly low at $1,521. After settling below the $1,600 level, it appears to be moving slowly downward. Additionally, the hourly ETH/USD chart shows two bearish trend lines forming with resistance near $1,555 and $1,570.</p> 
<p>Currently, Ethereum is trading below $1,565 and the 100-hour Simple Moving Average. There was a slight increase above the 23.6% Fib retracement level of the drop from $1,595 to $1,521, due to the recent drop.</p> 
<p>To the upside, the price may first face resistance near the $1,555 level and close to the first trend line. The primary resistance is near the second trend line, $1,565, and the 100-hour Simple Moving Average. Additionally, it’s close to the 61.8% Fib retracement level of the recent drop from $1,595 to $1,521.</p> 
<figure id="attachment_129732" aria-describedby="caption-attachment-129732" style="width: 100%" class="wp-caption alignnone">
 <a href="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/eth-usd-1h-13-october.webp?quality=70&amp;ssl=1"><img decoding="async" loading="lazy" class=" td-modal-image wp-image-129732 size-full" src="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/eth-usd-1h-13-october.webp?resize=696%2C267&amp;quality=70&amp;ssl=1" alt="eth-usd-1h-13-october" width="696" height="267" srcset="https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/eth-usd-1h-13-october.webp?w=1259&amp;quality=70&amp;ssl=1 1259w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/eth-usd-1h-13-october.webp?resize=300%2C115&amp;quality=70&amp;ssl=1 300w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/eth-usd-1h-13-october.webp?resize=1024%2C393&amp;quality=70&amp;ssl=1 1024w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/eth-usd-1h-13-october.webp?resize=768%2C295&amp;quality=70&amp;ssl=1 768w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/eth-usd-1h-13-october.webp?resize=150%2C58&amp;quality=70&amp;ssl=1 150w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/eth-usd-1h-13-october.webp?resize=696%2C267&amp;quality=70&amp;ssl=1 696w, https://i0.wp.com/en.coinotag.com/wp-content/uploads/2023/10/eth-usd-1h-13-october.webp?resize=1068%2C410&amp;quality=70&amp;ssl=1 1068w" sizes="(max-width: 696px) 100vw, 696px" data-recalc-dims="1"></a>
 <figcaption id="caption-attachment-129732" class="wp-caption-text">
  ETH/USD 1H Chart
 </figcaption>
</figure> 
<p>Clearly breaking the $1,570 resistance could send the price towards the critical $1,600 resistance. In this case, Ether could rise and recover towards the $1,665 resistance. Further gains could carry the price towards $1,750.</p> 
<h2 id="strong-could-there-be-more-losses-in-eth-strong"><strong>Could There Be More Losses in ETH?</strong></h2> 
<p>If Ethereum fails to surpass the $1,565 resistance, it might continue to decline. The initial downside support is near $1,520. The next key support is at the $1,500 level.</p> 
<p>A drop and close below the $1,500 support could send the price even lower. In this case, the price could fall towards $1,440. Further losses could push Ether towards $1,420.</p> 
<p><strong>Technical Indicators</strong></p> 
<ul> 
 <li>Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.</li> 
 <li>Hourly RSI – The RSI for ETH/USD is currently below the 50 level.</li> 
 <li>Major Support Level – $1,500</li> 
 <li>Major Resistance Level – $1,565</li> 
</ul> 
<p>The post <a rel="nofollow" href="https://en.coinotag.com/critical-price-level-in-ethereum-will-determine-the-direction-october-13-current-eth-analysis/">Critical Price Level in Ethereum Will Determine the Direction! October 13 Current ETH Analysis</a> appeared first on <a rel="nofollow" href="https://en.coinotag.com">COINOTAG NEWS</a>.</p> 
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Critical Price Level in Ethereum Will Determine the Direction! October 13 Current ETH Analysis

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