Ethereum Price Prediction: ETH bears eye key support line below $1,500

  • ETH/USD stays depressed near lowest levels in three weeks.
  • Bearish MACD, failures to regain 50-day SMA favor sellers.
  • 100-day SMA adds to the downside filters, 12-day-old resistance line offers extra challenge to recovery moves.

Ethereum fails to bounce off early March lows while taking rounds to $1,590 by the press time of early Thursday. In doing so, the quote keeps a downside break of $1,720-30 horizontal resistance area, established since February 05 and comprising 50-day SMA off-late.

Not only the failures to rebound beyond the key resistance but bearish MACD also direct ETH/USD towards an ascending support line from November 01, 20220, around $1,485 by the time of writing.

Although Ethereum bears are likely to catch a breather around the key support line, failures to do so will highlight the $1,400 threshold and 100-day SMA near $1,375 as the following rest-points to watch.

It’s worth mentioning that the quote’s corrective pullback beyond $1,730 is a green pass to the ETH/USD bulls as multiple trend lines close to $,1830 and $1,900 will be challenging them afterward.

Overall, Ethereum isn’t the one that is likely to recall the bulls, for now. However, the further selling depends upon how well the quote drops below crucial nearly supports.

ETH/USD daily chart

Trend: Further downside expected

Additional important levels

Today last price 1593
Today Daily Change -75.09
Today Daily Change % -4.50%
Today daily open 1668.09
Daily SMA20 1763.3
Daily SMA50 1723.33
Daily SMA100 1365.57
Daily SMA200 898.71
Previous Daily High 1723.61
Previous Daily Low 1651.58
Previous Weekly High 1931.97
Previous Weekly Low 1706.25
Previous Monthly High 2041.42
Previous Monthly Low 1271.31
Daily Fibonacci 38.2% 1679.1
Daily Fibonacci 61.8% 1696.09
Daily Pivot Point S1 1638.58
Daily Pivot Point S2 1609.06
Daily Pivot Point S3 1566.55
Daily Pivot Point R1 1710.61
Daily Pivot Point R2 1753.12
Daily Pivot Point R3 1782.64



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Weekly Forecast: BTC price surges despite threat of crash to $36k

Bitcoin price shows lackluster performance after the recent crash, giving rise to the credibility of the run-up to $50,000. As the September 24 daily candlestick bathes in red, the chances of an uptrend continue to diminish.

More Bitcoin news

XLM Price Prediction: Stellar traps bulls as it targets $0.195

Since Wednesday, the Stellar (XLM) price has been paring back losses, but price action has already started to fade on XLM. Bulls cannot push the price above $0.30, and XLM price has startedto form a bull trap.

More Stellar Lumens News

Polkadot Price Prediction: DOT will hit $40 by October

Polkadot (DOT) bears are scrambling to cash in on their profits as price action for DOT reverses quite rapidly, with bulls overtaking control and pushing price action back toward levels achieved before the correction began. 

More Polkadot News

PBoC imposes ban on crypto trading as it fosters ‘illegal financial activity’

China’s central bank cracks down on illegal financial activities from overseas cryptocurrency exchanges. The recent announcement marks the People’s Bank of China's (PBoC) strongest move against cryptocurrency mining and trading to date. 

More Cryptocurrencies News


Bitcoin Weekly Forecast: Markets revert to mean, but BTC price remains indecisive

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

Read the weekly forecast