{"id":483218,"date":"2022-02-09T05:08:01","date_gmt":"2022-02-09T05:08:01","guid":{"rendered":"https:\/\/wncen.com\/?p=483218"},"modified":"2024-06-11T14:11:20","modified_gmt":"2024-06-11T14:11:20","slug":"ethereum-corrects-gains-3k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-corrects-gains-3k\/","title":{"rendered":"TA: Ethereum Corrects Gains, Why ETH Could Restart Increase"},"content":{"rendered":"
Ethereum struggled to gain momentum above the $3,200 resistance against the US Dollar. ETH price is correcting gains, but it might find support near $3,030.<\/em><\/p>\n Ethereum remained well bid above the $3,000 support zone. ETH extended increase<\/a> and was able to clear the $3,200 resistance. It traded as high as $3,235 before there was a downside correction.<\/p>\n There was a move below the $3,200 and $3,150 levels. Ether price even declined below the 50% Fib retracement level of the upward move from the $2,952 swing low to $3,325 high. Besides, there was a break below a key bullish trend line with support near $3,160 on the hourly chart of ETH\/USD.<\/p>\n However, the price is still trading above $3,000 and the 100 hourly simple moving average<\/a>. An immediate resistance on the upside is near the $3,150 level.<\/p>\n <\/a><\/p>\n The first major resistance is near the $3,200 level. A successful close above $3,200 might start another increase. In the stated case, the price could surpass the $3,235 high. The next major hurdle is near the $3,350 level, above which the bulls might aim a test of $3,500.<\/p>\n If ethereum fails to continue higher above $3,160 or $3,200, it could continue to move down. An initial support on the downside is near the $3,080 level and a rising channel on the same chart.<\/p>\n The first major support is near the $3,030 level and the 100 hourly simple moving average. It is near the 76.4% Fib retracement level of the upward move from the $2,952 swing low to $3,325 high. A downside break below the $3,030 level might push the price below $3,000. The next major support is near the $2,950 level, below which there is a risk of a larger decline.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is just below the 50 level.<\/p>\n Major Support Level \u2013 $3,030<\/p>\n Major Resistance Level \u2013 $3,200<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum struggled to gain momentum above the $3,200 resistance against the US Dollar. ETH price is correcting gains, but it might find support near $3,030. Ethereum started a downside correction after it spiked towards the $3,240 level. The price is still trading above $3,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $3,160 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above $3,030 and $3,000 to start a fresh increase in the near term. Ethereum Price Remains Supported Ethereum remained well bid above the $3,000 support zone. ETH extended increase and was able to clear the $3,200 resistance. It traded as high as $3,235 before there was a downside correction. There was a move below the $3,200 and $3,150 levels. Ether price even declined below the 50% Fib retracement level of the upward move from the $2,952 swing low to $3,325 high. Besides, there was a break below a key bullish trend line with support near $3,160 on the hourly chart of ETH\/USD. However, the price is still trading above $3,000 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $3,150 level. Source: ETHUSD on TradingView.com The first major resistance is near the $3,200 level. A successful close above $3,200 might start another increase. In the stated case, the price could surpass the $3,235 high. The next major hurdle is near the $3,350 level, above which the bulls might aim a test of $3,500. Downside Break in ETH? If ethereum fails to continue higher above $3,160 or $3,200, it could continue to move down. An initial support on the downside is near the $3,080 level and a rising channel on the same chart. The first major support is near the $3,030 level and the 100 hourly simple moving average. It is near the 76.4% Fib retracement level of the upward move from the $2,952 swing low to $3,325 high. A downside break below the $3,030 level might push the price below $3,000. The next major support is near the $2,950 level, below which there is a risk of a larger decline. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is just below the 50 level. Major Support Level \u2013 $3,030 Major Resistance Level \u2013 $3,200<\/p>\n","protected":false},"author":67,"featured_media":464420,"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-483218","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 Remains Supported<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Downside Break in ETH?<\/h2>\n