{"id":480464,"date":"2022-01-06T05:08:58","date_gmt":"2022-01-06T05:08:58","guid":{"rendered":"https:\/\/wncen.com\/?p=480464"},"modified":"2024-06-11T14:10:25","modified_gmt":"2024-06-11T14:10:25","slug":"ethereum-drop-10-to-3400","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-drop-10-to-3400\/","title":{"rendered":"TA: Ethereum Drop 10% on the Day, and it’s Vulnerable For Bigger Decline"},"content":{"rendered":"
Ethereum declined heavily below the $3,680 support against the US Dollar. ETH price is sliding and there is a risk of a move towards the $3,200 level.<\/em><\/p>\n Ethereum failed to clear the $3,850 resistance level<\/a> and started a major decline. ETH declined below the $3,750 and $3,700 support levels to move into a bearish zone.<\/p>\n Besides, there was a break below a key contracting triangle with support near $3,800 on the hourly chart of ETH\/USD. There was a close below the $3,600 level and the 100 hourly simple moving average. The bears even pushed the price below the $3,500 level.<\/p>\n A low was formed near $3,411 and the price is now struggling to recover. Ether price is now trading below $3,550 and the 100 hourly simple moving average<\/a>. An immediate resistance is near the $3,500 level. It is near the 23.6% Fib retracement level of the downward move from the $3,847 swing high to $3,411 low.<\/p>\n The next major resistance is near the $3,630 level. It is close to the 50% Fib retracement level of the downward move from the $3,847 swing high to $3,411 low.<\/p>\n <\/a><\/p>\n A clear upside break above the $3,630 level could spark a decent recovery wave. Any more gains could send the price towards the $3,700 level. The next main resistance is near the $3,750 level and the 100 hourly simple moving average.<\/p>\n If ethereum fails to start a fresh increase above the $3,550 level, it could continue to move down. An initial support on the downside is near the $3,420 level.<\/p>\n The first key support is now forming near the $3,400 level. A downside break below the $3,400 level might lead the price towards the key $3,320 support in the near term. The next major support is near the $3,200 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is in the oversold region.<\/p>\n Major Support Level \u2013 $3,400<\/p>\n Major Resistance Level \u2013 $3,550<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum declined heavily below the $3,680 support against the US Dollar. ETH price is sliding and there is a risk of a move towards the $3,200 level. Ethereum started another decline from the $3,750 resistance zone. The price is trading below $3,550 and the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $3,800 on the hourly chart of ETH\/USD (data feed via Kraken). The pair remains at a risk of a larger decline below the $3,400 level. Ethereum Price Eyes More Downsides Ethereum failed to clear the $3,850 resistance level and started a major decline. ETH declined below the $3,750 and $3,700 support levels to move into a bearish zone. Besides, there was a break below a key contracting triangle with support near $3,800 on the hourly chart of ETH\/USD. There was a close below the $3,600 level and the 100 hourly simple moving average. The bears even pushed the price below the $3,500 level. A low was formed near $3,411 and the price is now struggling to recover. Ether price is now trading below $3,550 and the 100 hourly simple moving average. An immediate resistance is near the $3,500 level. It is near the 23.6% Fib retracement level of the downward move from the $3,847 swing high to $3,411 low. The next major resistance is near the $3,630 level. It is close to the 50% Fib retracement level of the downward move from the $3,847 swing high to $3,411 low. Source: ETHUSD on TradingView.com A clear upside break above the $3,630 level could spark a decent recovery wave. Any more gains could send the price towards the $3,700 level. The next main resistance is near the $3,750 level and the 100 hourly simple moving average. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,550 level, it could continue to move down. An initial support on the downside is near the $3,420 level. The first key support is now forming near the $3,400 level. A downside break below the $3,400 level might lead the price towards the key $3,320 support in the near term. The next major support is near the $3,200 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is in the oversold region. Major Support Level \u2013 $3,400 Major Resistance Level \u2013 $3,550<\/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-480464","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 Eyes More Downsides<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n