{"id":487616,"date":"2022-04-06T05:28:40","date_gmt":"2022-04-06T05:28:40","guid":{"rendered":"https:\/\/wncen.com\/?p=487616"},"modified":"2024-06-11T14:18:57","modified_gmt":"2024-06-11T14:18:57","slug":"ethereum-turns-red-below-3-4k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-turns-red-below-3-4k\/","title":{"rendered":"TA: Ethereum Turns Red Below $3.4K, Why Upsides Might Be Capped"},"content":{"rendered":"
Ethereum started a sharp decline from the $3,530 zone against the US Dollar. ETH price dived to $3,260 and is currently correcting higher.<\/em><\/p>\n Ethereum struggled to gain pace above the $3,525 and $3,530 resistance levels<\/a>. ETH topped near the $3,525 level and started a major decline.<\/p>\n The price declined below the $3,450 and $3,420 support levels. There was also a move below the $3,400 level and the 100 hourly simple moving average<\/a>. Finally, there was a sharp decline below the $3,300 level. It traded as low as $3,261 and is currently correcting losses.<\/p>\n There was a recovery wave above the $3,300 level. It broke the 23.6% Fib retracement level of the recent decline from the $3,580 swing high to $3,261 low.<\/p>\n The price is now facing resistance near the $3,400 level. The next major resistance is near the $3,420 level. It coincides with the 50% Fib retracement level of the recent decline from the $3,580 swing high to $3,261 low. \u00a0There is also a major bearish trend line forming with resistance near $3,460 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n If ether price clears the $3,450 resistance zone, it could start a decent increase. In the stated case, the price could climb above the $3,500 zone. The next key barrier is near the $3,525 level, where the bears might take a stand.<\/p>\n If ethereum fails to start a fresh increase above the $3,420 level, it could start a fresh decline. An initial support on the downside is near the $3,300 zone.<\/p>\n The next major support is near the $3,250 level. If there is a downside break below the $3,250 support, the price could accelerate lower. In the stated case, there is a risk of a move towards the $3,050 level.<\/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 now below the 50 level.<\/p>\n Major Support Level \u2013 $3,250<\/p>\n Major Resistance Level \u2013 $3,420<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started a sharp decline from the $3,530 zone against the US Dollar. ETH price dived to $3,260 and is currently correcting higher. Ethereum started a major decline from the $3,530 resistance zone. The price is now trading below $3,400 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $3,460 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could face a major resistance near the $3,425 and $3,450 levels. Ethereum Price Dives 5% Ethereum struggled to gain pace above the $3,525 and $3,530 resistance levels. ETH topped near the $3,525 level and started a major decline. The price declined below the $3,450 and $3,420 support levels. There was also a move below the $3,400 level and the 100 hourly simple moving average. Finally, there was a sharp decline below the $3,300 level. It traded as low as $3,261 and is currently correcting losses. There was a recovery wave above the $3,300 level. It broke the 23.6% Fib retracement level of the recent decline from the $3,580 swing high to $3,261 low. The price is now facing resistance near the $3,400 level. The next major resistance is near the $3,420 level. It coincides with the 50% Fib retracement level of the recent decline from the $3,580 swing high to $3,261 low. \u00a0There is also a major bearish trend line forming with resistance near $3,460 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com If ether price clears the $3,450 resistance zone, it could start a decent increase. In the stated case, the price could climb above the $3,500 zone. The next key barrier is near the $3,525 level, where the bears might take a stand. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,420 level, it could start a fresh decline. An initial support on the downside is near the $3,300 zone. The next major support is near the $3,250 level. If there is a downside break below the $3,250 support, the price could accelerate lower. In the stated case, there is a risk of a move towards the $3,050 level. 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 now below the 50 level. Major Support Level \u2013 $3,250 Major Resistance Level \u2013 $3,420<\/p>\n","protected":false},"author":67,"featured_media":461426,"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-487616","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 Dives 5%<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n