{"id":481245,"date":"2022-01-17T08:08:23","date_gmt":"2022-01-17T08:08:23","guid":{"rendered":"https:\/\/wncen.com\/?p=481245"},"modified":"2024-06-11T14:10:39","modified_gmt":"2024-06-11T14:10:39","slug":"ethereum-at-risk-3200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-at-risk-3200\/","title":{"rendered":"TA: Why Ethereum At Risk of Fresh Decline, $3,200 Holds The Key"},"content":{"rendered":"
Ethereum struggling to clear the $3,400 resistance against the US Dollar. ETH price is holding the $3,250 support, but there is a risk of more downsides.<\/em><\/p>\n Ethereum made another attempt to clear the $3,400 resistance zone<\/a>. ETH failed to gain strength and corrected lower from the $3,391 swing high.<\/p>\n There was a break below the $3,320 and $3,300 support levels. Ether price even settled below $3,300 and the 100 hourly simple moving average. Besides, there was a break below a key rising channel with support near $3,320 on the hourly chart of ETH\/USD.<\/p>\n A low is formed near $3,238 and the price is now correcting higher. There was a break above the 23.6% Fib retracement level of the recent decline from the $3,391 swing high to $3,238 low.<\/p>\n On the upside, an immediate resistance is near the $3,300 level and the 100 hourly simple moving average<\/a>. It is near the 50% Fib retracement level of the recent decline from the $3,391 swing high to $3,238 low.<\/p>\n <\/a><\/p>\n The first major resistance is near the $3,320 level. A clear move above the $3,320 level might start another increase in the near term. The next major resistance is near the $3,400 level, above which ether price could gain bullish momentum. In the stated case, the price could test $3,550 level in the near term.<\/p>\n If ethereum fails to start a fresh increase above the $3,300 level, it could continue to move down. An initial support on the downside is near the $3,250 level.<\/p>\n The first key support is now forming near the $3,200 level. A downside break below the $3,200 level might push the price further lower. Any more losses could lead the price towards $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 below the 50 level.<\/p>\n Major Support Level \u2013 $3,200<\/p>\n Major Resistance Level \u2013 $3,320<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum struggling to clear the $3,400 resistance against the US Dollar. ETH price is holding the $3,250 support, but there is a risk of more downsides. Ethereum started a downside correction from the $3,400 resistance zone. The price is trading below $3,300 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $3,320 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh increase if it stays above the $3,250 support zone. Ethereum Price Corrects Lower Ethereum made another attempt to clear the $3,400 resistance zone. ETH failed to gain strength and corrected lower from the $3,391 swing high. There was a break below the $3,320 and $3,300 support levels. Ether price even settled below $3,300 and the 100 hourly simple moving average. Besides, there was a break below a key rising channel with support near $3,320 on the hourly chart of ETH\/USD. A low is formed near $3,238 and the price is now correcting higher. There was a break above the 23.6% Fib retracement level of the recent decline from the $3,391 swing high to $3,238 low. On the upside, an immediate resistance is near the $3,300 level and the 100 hourly simple moving average. It is near the 50% Fib retracement level of the recent decline from the $3,391 swing high to $3,238 low. Source: ETHUSD on TradingView.com The first major resistance is near the $3,320 level. A clear move above the $3,320 level might start another increase in the near term. The next major resistance is near the $3,400 level, above which ether price could gain bullish momentum. In the stated case, the price could test $3,550 level in the near term. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,300 level, it could continue to move down. An initial support on the downside is near the $3,250 level. The first key support is now forming near the $3,200 level. A downside break below the $3,200 level might push the price further lower. Any more losses could lead the price towards $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 below the 50 level. Major Support Level \u2013 $3,200 Major Resistance Level \u2013 $3,320<\/p>\n","protected":false},"author":67,"featured_media":464770,"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-481245","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 Corrects Lower<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n