{"id":471133,"date":"2021-09-08T05:08:48","date_gmt":"2021-09-08T05:08:48","guid":{"rendered":"https:\/\/wncen.com\/?p=471133"},"modified":"2024-06-11T13:58:26","modified_gmt":"2024-06-11T13:58:26","slug":"ethereum-fresh-decline-3400","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-fresh-decline-3400\/","title":{"rendered":"TA: Ethereum Consolidate Losses, What Could Trigger Fresh Decline"},"content":{"rendered":"
Ethereum started a major decline below $3,500 against the US Dollar. ETH price tested $3,000 and it is now attempting a strong recovery wave.<\/em><\/p>\n
\n
Ethereum started a major decline from well above the $3,800 level.<\/li>\n
The price is now trading well below $3,600 and the 100 hourly simple moving average.<\/li>\n
There is a key contracting triangle forming with support near $3,400 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could trade in a range, and it might face a strong resistance near $3,600.<\/li>\n<\/ul>\n
Ethereum Price is Correcting Losses<\/h2>\n
Ethereum started a major decline after it failed to clear $4,000. ETH declined heavily below the $3,800 and $3,700 levels. It even broke the $3,600 support level and settled well below the 100 hourly simple moving average, similar to bitcoin<\/a>.<\/p>\n