{"id":471430,"date":"2021-09-13T05:48:53","date_gmt":"2021-09-13T05:48:53","guid":{"rendered":"https:\/\/wncen.com\/?p=471430"},"modified":"2024-06-11T13:58:32","modified_gmt":"2024-06-11T13:58:32","slug":"ethereum-risk-drop-to-3k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-risk-drop-to-3k\/","title":{"rendered":"TA: Why Ethereum Remains At Risk of A Fresh Drop To $3K"},"content":{"rendered":"
Ethereum is struggling to climb above $3,500 against the US Dollar. ETH price is moving lower and it could decline further below the $3,200 support zone<\/em><\/p>\n Ethereum attempted a recovery wave above the $3,400 level. However, ETH struggled to clear the $3,450 resistance and it even failed to stay above the 100 hourly simple moving average.<\/p>\n A high was formed near $3,450 and the price started a fresh decline, similar to bitcoin<\/a>. There was a break below the $3,350 and $3,320 support levels. Ether traded below the 50% Fib retracement level of the upward move from the $3,148 swing low to $3,450 high.<\/p>\n It is now trading well below $3,400 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $3,400 on the hourly chart of ETH\/USD. Besides, it is now trading well below $3,400 and the 100 hourly simple moving average<\/a>.<\/p>\n <\/a><\/p>\n An immediate resistance on the upside is near the $3,320 level. The first major resistance is near the $3,380 level. A proper move above the $3,380 level and $3,400 could increase the chances of a steady increase. The next major resistance sits near $3,500.<\/p>\n If ethereum fails to continue higher above the $3,350 and $3,400 resistance levels, it could start another downward move. An immediate support on the downside is near the $3,220 level.<\/p>\n The 76.4% Fib retracement level of the upward move from the $3,148 swing low to $3,450 high is also near $3,220. A downside break below the $3,220 and $3,200 support levels might push the price further lower. The next major support is now forming near the $3,150 zone, below which ether price might revisit $3,000.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining 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 $3,200<\/p>\n Major Resistance Level \u2013 $3,380<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is struggling to climb above $3,500 against the US Dollar. ETH price is moving lower and it could decline further below the $3,200 support zone Ethereum failed to clear the $3,450 level and started a fresh decline. The price is now trading well below $3,400 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $3,400 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could extend its decline if there is a clear break below the $3,200 support zone. Ethereum Price is Struggling Below $3,400 Ethereum attempted a recovery wave above the $3,400 level. However, ETH struggled to clear the $3,450 resistance and it even failed to stay above the 100 hourly simple moving average. A high was formed near $3,450 and the price started a fresh decline, similar to bitcoin. There was a break below the $3,350 and $3,320 support levels. Ether traded below the 50% Fib retracement level of the upward move from the $3,148 swing low to $3,450 high. It is now trading well below $3,400 and the 100 hourly simple moving average. There is also a major bearish trend line forming with resistance near $3,400 on the hourly chart of ETH\/USD. Besides, it is now trading well below $3,400 and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $3,320 level. The first major resistance is near the $3,380 level. A proper move above the $3,380 level and $3,400 could increase the chances of a steady increase. The next major resistance sits near $3,500. More Losses in ETH? If ethereum fails to continue higher above the $3,350 and $3,400 resistance levels, it could start another downward move. An immediate support on the downside is near the $3,220 level. The 76.4% Fib retracement level of the upward move from the $3,148 swing low to $3,450 high is also near $3,220. A downside break below the $3,220 and $3,200 support levels might push the price further lower. The next major support is now forming near the $3,150 zone, below which ether price might revisit $3,000. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $3,200 Major Resistance Level \u2013 $3,380<\/p>\n","protected":false},"author":67,"featured_media":459497,"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-471430","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 Struggling Below $3,400<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n