NewsBTC11 minutes ago

Published on August 16, 2023 04:26 GMT+00:00edited on August 16, 2023 04:29 GMT+00:00

Ethereum price is moving lower below the $1,850 zone against the US Dollar. ETH could extend losses and trade below the $1,800 support.

• Ethereum is slowly moving lower below the $1,850 and $1,840 resistance levels.
• The price is trading below $1,840 and the 100-hourly Simple Moving Average.
• There is a key bearish trend line forming with resistance near $1,835 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could drop further below the $1,800 support in the near term.

Ethereum Price Turns Red

Ethereum’s price struggled to recover above the $1,860 resistance zone. ETH remained in a bearish zone and extended its decline below the $1,850 level, similar to Bitcoin.

There was a clear move below the $1,830 support and the price declined toward $1,800. A low is …