{"id":486666,"date":"2022-03-23T06:28:28","date_gmt":"2022-03-23T06:28:28","guid":{"rendered":"https:\/\/wncen.com\/?p=486666"},"modified":"2024-06-11T12:23:48","modified_gmt":"2024-06-11T12:23:48","slug":"ethereum-fails-above-3k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-fails-above-3k\/","title":{"rendered":"TA: Ethereum Fails above $3K, Can Bulls Make it?"},"content":{"rendered":"
Ethereum attempted a steady increase above $3,000 against the US Dollar. ETH price failed near $3,050 and started a downside correction.<\/em><\/p>\n Ethereum started a steady increase above the $2,850 resistance zone<\/a>. ETH cleared the $2,920 and $2,950 resistance levels to move further into a positive zone.<\/p>\n The price even gained pace above the $3,000 level and settled above the 100 hourly simple moving average<\/a>. A high was formed near $3,054 and the price is now correcting gains. It corrected a few points below the $3,000 support zone.<\/p>\n There was a move below the 50% Fib retracement level of the upward move from the $2,885 swing low to $3,054 high. It is now trading above $2,900 and the 100 hourly simple moving average.<\/p>\n There is also a major contracting triangle forming with resistance near $2,965 on the hourly chart of ETH\/USD. The triangle support is near the 76.4% Fib retracement level of the upward move from the $2,885 swing low to $3,054 high.<\/p>\n <\/a><\/p>\n If there is a fresh increase, the price might clear the $2,965 and $2,980 resistance levels. The first major resistance is near the $3,000 level. Ether price must clear the $3,000 resistance level to start another increase. In the stated case, the price may perhaps rise towards the $3,050 level. Any more gains might call for a move towards the $3,120 resistance zone in the coming sessions.<\/p>\n If ethereum fails to start a fresh increase above the $3,000 level, it could start a downside correction. An initial support on the downside is near the trend line support and $2,940.<\/p>\n The next major support is near the $2,925 and the 100 hourly SMA. A downside break below the $2,925 support zone might push the price further lower. In the stated case, the price might drop to $2,850.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n Major Support Level \u2013 $2,925<\/p>\n Major Resistance Level \u2013 $3,000<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum attempted a steady increase above $3,000 against the US Dollar. ETH price failed near $3,050 and started a downside correction. Ethereum started a downside correction after it failed to clear $3,050. The price is now trading above $2,900 and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $2,965 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is consolidating above $2,900 and might start another increase in the near term. Ethereum Price Remains Supported Ethereum started a steady increase above the $2,850 resistance zone. ETH cleared the $2,920 and $2,950 resistance levels to move further into a positive zone. The price even gained pace above the $3,000 level and settled above the 100 hourly simple moving average. A high was formed near $3,054 and the price is now correcting gains. It corrected a few points below the $3,000 support zone. There was a move below the 50% Fib retracement level of the upward move from the $2,885 swing low to $3,054 high. It is now trading above $2,900 and the 100 hourly simple moving average. There is also a major contracting triangle forming with resistance near $2,965 on the hourly chart of ETH\/USD. The triangle support is near the 76.4% Fib retracement level of the upward move from the $2,885 swing low to $3,054 high. Source: ETHUSD on TradingView.com If there is a fresh increase, the price might clear the $2,965 and $2,980 resistance levels. The first major resistance is near the $3,000 level. Ether price must clear the $3,000 resistance level to start another increase. In the stated case, the price may perhaps rise towards the $3,050 level. Any more gains might call for a move towards the $3,120 resistance zone in the coming sessions. Downside Break in ETH? If ethereum fails to start a fresh increase above the $3,000 level, it could start a downside correction. An initial support on the downside is near the trend line support and $2,940. The next major support is near the $2,925 and the 100 hourly SMA. A downside break below the $2,925 support zone might push the price further lower. In the stated case, the price might drop to $2,850. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,925 Major Resistance Level \u2013 $3,000<\/p>\n","protected":false},"author":67,"featured_media":462611,"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-486666","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