{"id":481378,"date":"2022-01-18T10:42:43","date_gmt":"2022-01-18T10:42:43","guid":{"rendered":"https:\/\/wncen.com\/?p=481378"},"modified":"2024-06-11T14:10:42","modified_gmt":"2024-06-11T14:10:42","slug":"ethereum-revisits-key-support-3120","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-revisits-key-support-3120\/","title":{"rendered":"TA: Ethereum Revisits Key Support, Why Recovery Could be Capped"},"content":{"rendered":"<p><em>Ethereum extended decline below the $3,300 support zone against the US Dollar. ETH price could recover from $3,120, but it might face hurdles near $3,250.<\/em><\/p>\n<ul>\n<li>Ethereum extended decline below the $3,300 and $3,250 support levels.<\/li>\n<li>The price is trading below $3,250 and the 100 hourly simple moving average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $3,180 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh increase if it clears the $3,200 and $3,250 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Struggles<\/h2>\n<p>Ethereum <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-at-risk-3200\/\" target=\"_blank\" rel=\"noopener \">extended decline<\/a> below the $3,250 support zone. ETH even broke the $3,200 support level and settled below the 100 hourly simple moving average.<\/p>\n<p>It traded as low as $3,129 and is currently correcting higher. There was a minor move above the $3,150 level. The price is now facing resistance near the $3,180 level. There is also a key bearish trend line forming with resistance near $3,180 on the hourly chart of ETH\/USD.<\/p>\n<p>The trend line is near the 23.6% Fib retracement level of the recent decline from the $3,392 swing high to $3,129 low. If there is an upside break above the trend line, the price could rise towards the $3,250 resistance zone.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Ethereum-10.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-481379\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Ethereum-10.png?resize=1834%2C848\" alt=\"Ethereum Price\" width=\"1834\" height=\"848\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Ethereum-10.png?w=1834 1834w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Ethereum-10.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Ethereum-10.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Ethereum-10.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Ethereum-10.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Ethereum-10.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2022\/01\/Ethereum-10.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<pre>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/pre>\n<p>The 50% Fib retracement level of the recent decline from the $3,392 swing high to $3,129 low is also near the $3,250 level to act as a hurdle. A clear move above the $3,250 level might pump the price 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 rise towards $3,550 in the near term.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If ethereum fails to start a fresh increase above the $3,200 level, it could <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-gearing-lift-off-to-3500\/\" target=\"_blank\" rel=\"noopener \">continue to move down<\/a>. An initial support on the downside is near the $3,140 level.<\/p>\n<p>The first key support is now forming near the $3,120 level. A downside break below the $3,120 level might push the price further lower. The next major support for the bulls may perhaps be near the $3,000 handle.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is still well below the 50 level.<\/p>\n<p>Major Support Level \u2013 $3,120<\/p>\n<p>Major Resistance Level \u2013 $3,250<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum extended decline below the $3,300 support zone against the US Dollar. ETH price could recover from $3,120, but it might face hurdles near $3,250. Ethereum extended decline below the $3,300 and $3,250 support levels. The price is trading below $3,250 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $3,180 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $3,200 and $3,250 resistance levels. Ethereum Price Struggles Ethereum extended decline below the $3,250 support zone. ETH even broke the $3,200 support level and settled below the 100 hourly simple moving average. It traded as low as $3,129 and is currently correcting higher. There was a minor move above the $3,150 level. The price is now facing resistance near the $3,180 level. There is also a key bearish trend line forming with resistance near $3,180 on the hourly chart of ETH\/USD. The trend line is near the 23.6% Fib retracement level of the recent decline from the $3,392 swing high to $3,129 low. If there is an upside break above the trend line, the price could rise towards the $3,250 resistance zone. Source: ETHUSD on TradingView.com The 50% Fib retracement level of the recent decline from the $3,392 swing high to $3,129 low is also near the $3,250 level to act as a hurdle. A clear move above the $3,250 level might pump the price 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 rise towards $3,550 in the near term. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,200 level, it could continue to move down. An initial support on the downside is near the $3,140 level. The first key support is now forming near the $3,120 level. A downside break below the $3,120 level might push the price further lower. The next major support for the bulls may perhaps be near the $3,000 handle. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is still well below the 50 level. Major Support Level \u2013 $3,120 Major Resistance Level \u2013 $3,250<\/p>\n","protected":false},"author":67,"featured_media":464009,"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-481378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>TA: Ethereum Revisits Key Support, Why Recovery Could be Capped<\/title>\n<meta name=\"description\" content=\"Ethereum extended decline below the $3,300 support zone against the US Dollar. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"TA: Ethereum Revisits Key Support, Why Recovery Could be Capped","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-revisits-key-support-3120\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-revisits-key-support-3120\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_519464068.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_519464068.jpg?fit=1000%2C636"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ethereum","ethusd","ethusdt"],"dateCreated":"2022-01-18T10:42:43Z","datePublished":"2022-01-18T10:42:43Z","dateModified":"2024-06-11T14:10:42Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"TA: Ethereum Revisits Key Support, Why Recovery Could be Capped\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-revisits-key-support-3120\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-revisits-key-support-3120\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_519464068.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/05\\\/shutterstock_519464068.jpg?fit=1000%2C636\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2022-01-18T10:42:43Z\",\"datePublished\":\"2022-01-18T10:42:43Z\",\"dateModified\":\"2024-06-11T14:10:42Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/05\/shutterstock_519464068.jpg?fit=1000%2C636","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/481378"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=481378"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/481378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/464009"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=481378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=481378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=481378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}