{"id":469399,"date":"2021-08-17T05:08:56","date_gmt":"2021-08-17T05:08:56","guid":{"rendered":"https:\/\/wncen.com\/?p=469399"},"modified":"2024-06-11T08:36:07","modified_gmt":"2024-06-11T08:36:07","slug":"ethereum-faces-rejection-3k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-faces-rejection-3k\/","title":{"rendered":"TA: Ethereum (ETH) Faces Rejection, Why ETH Could Revisit $3K"},"content":{"rendered":"
Ethereum failed once again to clear the $3,330 resistance against the US Dollar. ETH price is now at a risk of more losses below the $3,120 support zone.<\/em><\/p>\n Ethereum made another to clear the $3,330 resistance, similar to bitcoin<\/a> at $48k. However, ETH price failed to gain strength and struggled to clear the $3,330 resistance zone.<\/p>\n A high was formed near $3,336 and the price started a fresh decline. There was a break below the $3,250 support level. There was also a break below a key bullish trend line with support near $3,200 on the hourly chart of ETH\/USD.<\/p>\n Ether price settled below $3,200 and the 100 hourly simple moving average<\/a>. The price retested the $3,120 support zone, where the bulls took a stand. A low is formed near $3,120 and the price is now attempting an upside correction.<\/p>\n There was a break above the $3,150 level. The price recovered above the 23.6% Fib retracement level of the recent decline from the $3,336 high to $3,120 low.<\/p>\n On the upside, an initial resistance is near the $3,200 level and the 100 hourly simple moving average. The key resistance is now forming near the $3,240 level. It is near the 50% Fib retracement level of the recent decline from the $3,336 high to $3,120 low.<\/p>\n <\/a><\/p>\n A clear break and close above the $3,240 and $3,250 resistance levels might start a fresh increase. The next key resistance might be near the $3,300 level, above which the price might attempt break above $3,330.<\/p>\n If ethereum fails to continue higher above the $3,240 and $3,250 resistance levels, it could extend its downside correction. An immediate support on the downside is near the $3,140 level.<\/p>\n The first key support is near the $3,120 level. A downside break below the $3,120 support zone could spark a sharp decline. The next major support could be $3,000.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n Major Support Level \u2013 $3,120<\/p>\n Major Resistance Level \u2013 $3,250<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum failed once again to clear the $3,330 resistance against the US Dollar. ETH price is now at a risk of more losses below the $3,120 support zone. Ethereum failed on two occasions to clear the $3,330 resistance zone. The price is now trading below $3,200 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $3,200 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to move down as long as it is below the $3,250 resistance. Ethereum Price Faces Key Resistance Ethereum made another to clear the $3,330 resistance, similar to bitcoin at $48k. However, ETH price failed to gain strength and struggled to clear the $3,330 resistance zone. A high was formed near $3,336 and the price started a fresh decline. There was a break below the $3,250 support level. There was also a break below a key bullish trend line with support near $3,200 on the hourly chart of ETH\/USD. Ether price settled below $3,200 and the 100 hourly simple moving average. The price retested the $3,120 support zone, where the bulls took a stand. A low is formed near $3,120 and the price is now attempting an upside correction. There was a break above the $3,150 level. The price recovered above the 23.6% Fib retracement level of the recent decline from the $3,336 high to $3,120 low. On the upside, an initial resistance is near the $3,200 level and the 100 hourly simple moving average. The key resistance is now forming near the $3,240 level. It is near the 50% Fib retracement level of the recent decline from the $3,336 high to $3,120 low. Source: ETHUSD on TradingView.com A clear break and close above the $3,240 and $3,250 resistance levels might start a fresh increase. The next key resistance might be near the $3,300 level, above which the price might attempt break above $3,330. More Losses in ETH? If ethereum fails to continue higher above the $3,240 and $3,250 resistance levels, it could extend its downside correction. An immediate support on the downside is near the $3,140 level. The first key support is near the $3,120 level. A downside break below the $3,120 support zone could spark a sharp decline. The next major support could be $3,000. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $3,120 Major Resistance Level \u2013 $3,250<\/p>\n","protected":false},"author":67,"featured_media":457436,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-469399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Faces Key Resistance<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n