{"id":471225,"date":"2021-09-09T05:08:14","date_gmt":"2021-09-09T05:08:14","guid":{"rendered":"https:\/\/wncen.com\/?p=471225"},"modified":"2024-06-11T13:58:28","modified_gmt":"2024-06-11T13:58:28","slug":"ethereum-stuck-below-3600","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-stuck-below-3600\/","title":{"rendered":"TA: Ethereum Stuck Below $3,600, Why Bears Might Aim Fresh Drop"},"content":{"rendered":"
Ethereum recovered above $3,400 and $3,500 against the US Dollar. ETH price is struggling near $3,600 and it might start a fresh decline.<\/em><\/p>\n Ethereum declined heavily below $3,500 and $3,200. ETH even broke the $3,000 support and settled below the 100 hourly simple moving average, similar to bitcoin<\/a>. It traded as low as $2,900 before starting an upside correction.<\/p>\n There was a break above the $3,300 and $3,400 resistance levels. The price even climbed above the $3,500 resistance zone. There was a break above a key bearish trend line with resistance near $3,500 on the hourly chart of ETH\/USD.<\/p>\n However, the bears seem to be defending the $3,600 zone. A high is formed near $3,561 and the price is slowly moving lower. Ether is now trading well below $3,600 and the 100 hourly simple moving average<\/a>.<\/p>\n There was also a break below the 23.6% Fib retracement level of the recent wave from the $3,218 swing low to $3,561 high. The price is now testing the same broke trend line at $3,440. An immediate resistance on the upside is near the $3,500 level.<\/p>\n <\/a><\/p>\n The first major resistance is near the $3,560 level. A proper move above the $3,560 level and $3,600 could increase the chances of a steady increase. The next major resistance sits near $3,680.<\/p>\n If ethereum fails to continue higher above the $3,500 and $3,560 resistance levels, it could start another downward move. An immediate support on the downside is near the $3,400 level.<\/p>\n The next major support is now forming near the $3,380 zone. It is near the 50% Fib retracement level of the recent wave from the $3,218 swing low to $3,561 high. The main support is near $3,335, below which the price could test the $3,200 zone.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n Major Support Level \u2013 $3,380<\/p>\n Major Resistance Level \u2013 $3,560<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum recovered above $3,400 and $3,500 against the US Dollar. ETH price is struggling near $3,600 and it might start a fresh decline. Ethereum recovered losses after a sharp decline to $2,900. The price is still trading well below $3,600 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,500 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh decline unless there is a clear break above $3,600. Ethereum Price is Facing Resistance Ethereum declined heavily below $3,500 and $3,200. ETH even broke the $3,000 support and settled below the 100 hourly simple moving average, similar to bitcoin. It traded as low as $2,900 before starting an upside correction. There was a break above the $3,300 and $3,400 resistance levels. The price even climbed above the $3,500 resistance zone. There was a break above a key bearish trend line with resistance near $3,500 on the hourly chart of ETH\/USD. However, the bears seem to be defending the $3,600 zone. A high is formed near $3,561 and the price is slowly moving lower. Ether is now trading well below $3,600 and the 100 hourly simple moving average. There was also a break below the 23.6% Fib retracement level of the recent wave from the $3,218 swing low to $3,561 high. The price is now testing the same broke trend line at $3,440. An immediate resistance on the upside is near the $3,500 level. Source: ETHUSD on TradingView.com The first major resistance is near the $3,560 level. A proper move above the $3,560 level and $3,600 could increase the chances of a steady increase. The next major resistance sits near $3,680. More Losses in ETH? If ethereum fails to continue higher above the $3,500 and $3,560 resistance levels, it could start another downward move. An immediate support on the downside is near the $3,400 level. The next major support is now forming near the $3,380 zone. It is near the 50% Fib retracement level of the recent wave from the $3,218 swing low to $3,561 high. The main support is near $3,335, below which the price could test the $3,200 zone. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $3,380 Major Resistance Level \u2013 $3,560<\/p>\n","protected":false},"author":67,"featured_media":459191,"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-471225","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 is Facing Resistance<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n