{"id":459722,"date":"2022-06-09T00:20:08","date_gmt":"2022-06-08T21:20:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/traders-target-1400-ethereum-price-after-eth-drops-closer-to-a-critical-support-level\/"},"modified":"2022-06-09T00:20:08","modified_gmt":"2022-06-08T21:20:08","slug":"traders-target-1400-ethereum-price-after-eth-drops-closer-to-a-critical-support-level","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/traders-target-1400-ethereum-price-after-eth-drops-closer-to-a-critical-support-level\/","title":{"rendered":"# Traders target $1,400 Ethereum price after ETH drops closer to a critical support level"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a381c5ae4649\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a381c5ae4649\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/traders-target-1400-ethereum-price-after-eth-drops-closer-to-a-critical-support-level\/#%E2%80%9D_Traders_target_1400_Ethereum_price_after_ETH_drops_closer_to_a_critical_support_level_%E2%80%9C\" >&#8221; Traders target $1,400 Ethereum price after ETH drops closer to a critical support level &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/traders-target-1400-ethereum-price-after-eth-drops-closer-to-a-critical-support-level\/#Can_Ether_escape_the_head_and_shoulders_pattern\" >Can Ether escape the head and shoulders pattern?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/traders-target-1400-ethereum-price-after-eth-drops-closer-to-a-critical-support-level\/#The_descending_triangle_pattern_also_forecasts_further_downside\" >The descending triangle pattern also forecasts further downside<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/traders-target-1400-ethereum-price-after-eth-drops-closer-to-a-critical-support-level\/#Price_momentum_turns_negative\" >Price momentum turns negative<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Traders_target_1400_Ethereum_price_after_ETH_drops_closer_to_a_critical_support_level_%E2%80%9C\"><\/span>&#8221; Traders target $1,400 Ethereum price after ETH drops closer to a critical support level &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>On June 8 the Ethereum network successfully underwent\u00a0the merge to become proof-of-stake\u00a0on its Ropsten testnet, but the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> had little impact on\u00a0ETH\u00a0price.\u00a0<\/p>\n<p>With the Ropsten upgrade now looking more like a buy the rumor, sell the news type of event, most analysts have kept a short-term bearish outlook for Ether price. Let&#8217;s take a look.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/0af3b8f5-e01e-4075-b006-b4a620a6385c.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USDT 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Can_Ether_escape_the_head_and_shoulders_pattern\"><\/span>Can Ether escape the head and shoulders pattern?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> analyst, &#8220;Cactus&#8221;pointed out a bearish head and shoulders pattern and questioned whether Ether price would be able to follow the sharp downside that typically follows the completion of the pattern.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/c6a2eb4a-8399-42db-92a2-fdae09543da8.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-week chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Cactus said, <\/p>\n<blockquote><p>\u201cThis is what we are getting excited about? Hard to be bullish any timeframe until we S\/R [support\/resistance] flip 2K.\u201d<\/p><\/blockquote>\n<p>The areas of support to keep an eye on below $1,800 were highlighted in the following chart <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1532390895617818626\">posted<\/a> by crypto analyst and pseudonymous Twitter user il Capo of Crypto, who ominously noted that \u201cLower highs all the time and that support has been touched a lot of times already.\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/8eb09f98-3e19-4dfe-bafa-b372953e2c81.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>The analyst <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoCapo_\/status\/1534451736110419969\">said<\/a>, <\/p>\n<blockquote><p>\u201cClean break of $1,700 and last leg down would be confirmed, with main target = $1,000.\u201d <\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"The_descending_triangle_pattern_also_forecasts_further_downside\"><\/span>The descending triangle pattern also forecasts further downside<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A separate, but equally bearish descending triangle chart pattern was highlighted by Crypto Tony, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoTony__\/status\/1534573974604206080\">pondered<\/a> if this is \u201csomething too obvious\u201d to ignore. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/1b06b60b-568b-41ae-ab96-9b7c0088793b.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-day chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Based on the lower area of support highlighted on the chart provided by Crypto Tony, a breakdown below the current price could see Ether pullback to the $1,450 to $1,600 range. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Ethereum \u2018double Doji\u2019 pattern hints at a 50% ETH price rally by September<\/em><\/strong><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Price_momentum_turns_negative\"><\/span>Price momentum turns negative<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A more macro view of the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a> weakness being displayed by Ether was offered by cryptocurrency trader Cantering Clark, who <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CanteringClark\/status\/1532750998791405571\">said<\/a>\u00a0\u201cIf I didn&#8217;t think that this time was slightly different, I would look at this $ETH chart and think \u2018Big ships turn slowly, and they don&#8217;t stop easily.\u2019\u201d<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/03c6db19-35f2-472f-ac69-6bd5b5516002.jpg\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-week chart. Source: Twitter<\/em><\/figcaption><\/figure>\n<p>Cantering Clark said, <\/p>\n<blockquote><p>\u201cBy high timeframe measures, this could be the beginning of actual momentum down.\u201d<\/p><\/blockquote>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/p>\n<\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/traders-target-1-400-ethereum-price-after-eth-drops-closer-to-a-critical-support-level\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Traders target $1,400 Ethereum price after ETH drops closer to a critical support level &#8220; On June 8 the Ethereum network successfully underwent\u00a0the merge to become proof-of-stake\u00a0on its Ropsten testnet, but the news had little impact on\u00a0ETH\u00a0price.\u00a0 With the Ropsten upgrade now looking more like a buy the rumor, sell the news type of&#8230;<\/p>\n","protected":false},"author":1,"featured_media":459723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvMDg3ZDgwM2QtYTM2MS00Mjk0LWFkYmEtYzg4NDllMTJhNjc2LmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74863,82402,74891,74938,75679,75150,73785],"class_list":["post-459722","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-ether-price","tag-ethereum","tag-ethereum-price","tag-market-capitalization","tag-market-update","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/459722","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=459722"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/459722\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/459723"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=459722"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=459722"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=459722"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}