{"id":478226,"date":"2022-07-25T16:01:08","date_gmt":"2022-07-25T13:01:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereums-bearish-u-turn-eth-price-momentum-fades-after-1-6k-rejection\/"},"modified":"2022-07-25T16:01:08","modified_gmt":"2022-07-25T13:01:08","slug":"ethereums-bearish-u-turn-eth-price-momentum-fades-after-1-6k-rejection","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereums-bearish-u-turn-eth-price-momentum-fades-after-1-6k-rejection\/","title":{"rendered":"# Ethereum&#8217;s bearish U-turn? ETH price momentum fades after $1.6K rejection"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 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-6a23a38167d10\" 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-6a23a38167d10\" 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\/ethereums-bearish-u-turn-eth-price-momentum-fades-after-1-6k-rejection\/#%E2%80%9D_Ethereums_bearish_U-turn_ETH_price_momentum_fades_after_16K_rejection_%E2%80%9C\" >&#8221; Ethereum&#8217;s bearish U-turn? ETH price momentum fades after $1.6K rejection &#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\/ethereums-bearish-u-turn-eth-price-momentum-fades-after-1-6k-rejection\/#Ethereum_gets_rejected_at_1650\" >Ethereum gets rejected at $1,650\u00a0<\/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\/ethereums-bearish-u-turn-eth-price-momentum-fades-after-1-6k-rejection\/#Bearish_divergence\" >Bearish divergence<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ethereums_bearish_U-turn_ETH_price_momentum_fades_after_16K_rejection_%E2%80%9C\"><\/span>&#8221; Ethereum&#8217;s bearish U-turn? ETH price momentum fades after $1.6K rejection &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Ethereum&#8217;s native token Ether (ETH) tumbled on July 26, reducing hopes of an extended price recovery. The ETH\/USD pair dropped by roughly 5%, followed by a modest rebound to over $1,550.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_gets_rejected_at_1650\"><\/span>Ethereum gets rejected at $1,650\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>These overnight moves liquidated over $80 million worth of Ether positions in the last 24 hours, data from CoinGlass <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinglass.com\/LiquidationData\">reveals<\/a>.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/bc498146-a53b-443a-b3e7-ce1672044d5b.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD hourly price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The seesaw action also revealed an underlying bias conflict among traders who have been stuck between two extremely opposite market fundamentals.<\/p>\n<p>The first is the euphoria surrounding Ethereum&#8217;s potential transition to proof-of-stake in September, which has helped Ether&#8217;s price to recover 45% month-to-date.<\/p>\n<p>However, this bullish hype is at odds with macroeconomic headwinds, namely the Federal Reserve&#8217;s and the European Central Bank&#8217;s hawkish stance, which put pressure on risk assets and saw Ether price shed 68% from its record high of $4,950 to date.<\/p>\n<p>But the short term could provide some upside for ETH price. For instance, analyst PostyXBT <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/PostyXBT\/status\/1551475718604947456\">anticipates<\/a> Ether to undergo an interim upside retracement based on the token&#8217;s recent swings inside an ascending channel pattern, as shown below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/f3832221-acfc-4933-ab1a-88bf0a27e8e8.jpeg\"><figcaption style=\"text-align: center;\"><em>ETH\/USD four-hour price chart featuring ascending channel setup. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>In other words, ETH&#8217;s price could hit $1,700 ahead of July&#8217;s close if the pattern plays out.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bearish_divergence\"><\/span>Bearish divergence<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Nonetheless, watching the same recovery trend in conjunction with Ether&#8217;s four-hour relative strength index (RSI), a momentum oscillator indicator, shows extreme disparities.<\/p>\n<p>Interestingly, Ether&#8217;s price has been forming higher highs since July 18, while its RSI has been making lower highs simultaneously. <\/p>\n<p>That shows a bearish divergence between ETH&#8217;s price and momentum, meaning bulls have been losing their grip on the market, and a downtrend may follow.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-07\/5b7ce70a-187e-47f4-b300-41e09959f2cf.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD four-hour price chart featuring bearish divergence. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Ether also risks breaking below its ascending channel&#8217;s lower trendline, which coincides with two more price supports: the 50-4H exponential moving average (50-4H EMA; the red wave) at around $1,500 and the 0.5 Fib line near $1,475.\u00a0\u00a0<\/p>\n<p><strong><em>Related:\u00a0Will Ethereum Merge hopium continue, or is it a bull trap?<\/em><\/strong><\/p>\n<p>Losing these key supports would likely push below $1,350 (the $0.382 Fib line and the blue 200-4H EMA wave) in August, down 10%\u201315% from Ju&#8217;s price, should this bearish scenario play out. <\/p>\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 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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\/ethereum-s-bearish-u-turn-eth-price-momentum-fades-after-1-6k-rejection\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ethereum&#8217;s bearish U-turn? ETH price momentum fades after $1.6K rejection &#8220; Ethereum&#8217;s native token Ether (ETH) tumbled on July 26, reducing hopes of an extended price recovery. The ETH\/USD pair dropped by roughly 5%, followed by a modest rebound to over $1,550. Ethereum gets rejected at $1,650\u00a0 These overnight moves liquidated over $80 million&#8230;<\/p>\n","protected":false},"author":1,"featured_media":478227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDcvOTE4ZjllOTEtZDZhYS00NTI4LTlmNDctNGFhMzVmZTZjYjc4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[82402,74891,74938,74939,74876,78261,73785],"class_list":["post-478226","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ether-price","tag-ethereum","tag-ethereum-price","tag-market-analysis","tag-proof-of-stake","tag-tech-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/478226","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=478226"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/478226\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/478227"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=478226"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=478226"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=478226"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}