{"id":487860,"date":"2022-04-11T05:38:28","date_gmt":"2022-04-11T05:38:28","guid":{"rendered":"https:\/\/wncen.com\/?p=487860"},"modified":"2024-06-11T14:19:03","modified_gmt":"2024-06-11T14:19:03","slug":"ethereum-takes-hit-3k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-takes-hit-3k\/","title":{"rendered":"TA: Ethereum Takes Hit: Main Reasons $3K Could Be Tested"},"content":{"rendered":"
Ethereum started a fresh decline after it faced rejection near $3,300 against the US Dollar. ETH price could extend decline towards $3,000 in the near term.<\/em><\/p>\n Ethereum attempted an upside correction<\/a> above the $3,220 level. ETH even moved above the $3,250 level, but the bears appeared near the $3,300 level.<\/p>\n A high was formed near $3,307 and the price started a fresh decline. There was a clear move below the $3,250 and $3,220 support levels. Ether even traded below a connecting bullish trend line with support near $3,220 on the hourly chart.<\/p>\n It is now trading below $3,200 and the 100 hourly simple moving average<\/a>. A low is formed near $3,154 and the price is now consolidating losses.<\/p>\n On the upside, an initial resistance is seen near the $3,190 level. It is near the 23.6% Fib retracement level of the recent decline from the $3,307 swing high to $3,154 low. The next major resistance is near the $3,235 level.<\/p>\n The 50% Fib retracement level of the recent decline from the $3,307 swing high to $3,154 low is also near $3,235. The main resistance is near the $3,260 level and the 100 hourly simple moving average. Besides, there is a major bearish trend line forming with resistance near $3,320 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n A clear move above the $3,260 resistance and then the trend line might start a steady increase. In the stated case, the price could climb above the $3,300 zone.<\/p>\n If ethereum fails to start a fresh increase above the $3,260 level, it could continue to move down. An initial support on the downside is near the $3,150 zone.<\/p>\n The next major support is near the $3,120 level. If there is a downside break below the $3,120 support, the price could resume its decline. In the stated case, the price may even decline to $3,000.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining 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 $3,150<\/p>\n Major Resistance Level \u2013 $3,260<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started a fresh decline after it faced rejection near $3,300 against the US Dollar. ETH price could extend decline towards $3,000 in the near term. Ethereum started a fresh decline after it faced rejection near $3,280 and $3,300. The price is now trading below $3,220 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $3,320 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could extend decline to $3,000 if it trades below the $3,150 support. Ethereum Price Resumes Decline Ethereum attempted an upside correction above the $3,220 level. ETH even moved above the $3,250 level, but the bears appeared near the $3,300 level. A high was formed near $3,307 and the price started a fresh decline. There was a clear move below the $3,250 and $3,220 support levels. Ether even traded below a connecting bullish trend line with support near $3,220 on the hourly chart. It is now trading below $3,200 and the 100 hourly simple moving average. A low is formed near $3,154 and the price is now consolidating losses. On the upside, an initial resistance is seen near the $3,190 level. It is near the 23.6% Fib retracement level of the recent decline from the $3,307 swing high to $3,154 low. The next major resistance is near the $3,235 level. The 50% Fib retracement level of the recent decline from the $3,307 swing high to $3,154 low is also near $3,235. The main resistance is near the $3,260 level and the 100 hourly simple moving average. Besides, there is a major bearish trend line forming with resistance near $3,320 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com A clear move above the $3,260 resistance and then the trend line might start a steady increase. In the stated case, the price could climb above the $3,300 zone. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,260 level, it could continue to move down. An initial support on the downside is near the $3,150 zone. The next major support is near the $3,120 level. If there is a downside break below the $3,120 support, the price could resume its decline. In the stated case, the price may even decline to $3,000. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $3,150 Major Resistance Level \u2013 $3,260<\/p>\n","protected":false},"author":67,"featured_media":459143,"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-487860","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 Resumes Decline<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n