{"id":488017,"date":"2022-04-13T05:28:06","date_gmt":"2022-04-13T05:28:06","guid":{"rendered":"https:\/\/wncen.com\/?p=488017"},"modified":"2024-06-11T14:19:06","modified_gmt":"2024-06-11T14:19:06","slug":"ethereum-steadies-above-3k-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-steadies-above-3k-2\/","title":{"rendered":"TA: Ethereum Steadies Above $3K, Why Upsides Could be Capped"},"content":{"rendered":"
Ethereum is attempting an upside correction above $3,000 against the US Dollar. ETH price must clear $3,130 and the 100 hourly SMA to continue higher.<\/em><\/p>\n Ethereum formed a base above the $2,950 level and started a fresh increase. ETH broke the $3,000 resistance zone<\/a> to move into a short-term positive zone.<\/p>\n There was a move above the $3,020 resistance level. Ether was able to clear the 23.6% Fib retracement level of the key drop from the $3,310 swing high to $2,951 low. Besides, there was a break above a key bearish trend line with resistance near $3,035 on the hourly chart of ETH\/USD.<\/p>\n The price is now trading above the $3,050 level. On the upside, an initial resistance is seen near the $3,085 level. The next major resistance is near the $3,130 level and the 100 hourly simple moving average<\/a>.<\/p>\n The 50% Fib retracement level of the key drop from the $3,310 swing high to $2,951 low is also near the $3,130 level. A close above the $3,130 level and the 100 hourly simple moving average might start a decent recovery wave.<\/p>\n <\/a><\/p>\n The next major resistance could be near the $3,170. A clear move above the $3,170 resistance could set the pace for a move above the $3,200 level. In the stated case, the price could climb above the $3,250 zone.<\/p>\n If ethereum fails to start a recovery wave above the $3,130 level, it could start a fresh decline. An initial support on the downside is near the $3,020 zone.<\/p>\n The next major support is near the $2,950 level. If there is a downside break below the $2,950 support, the price could start another decline. In this scenario, there is a risk of a move towards the $2,840 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly gaining pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 level.<\/p>\n Major Support Level \u2013 $2,950<\/p>\n Major Resistance Level \u2013 $3,130<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is attempting an upside correction above $3,000 against the US Dollar. ETH price must clear $3,130 and the 100 hourly SMA to continue higher. Ethereum started an upside correction from the $2,950 zone. The price is still trading below $3,100 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,035 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could recover, but upsides might be capped near the $3,130 level. Ethereum Price Faces Hurdles Ethereum formed a base above the $2,950 level and started a fresh increase. ETH broke the $3,000 resistance zone to move into a short-term positive zone. There was a move above the $3,020 resistance level. Ether was able to clear the 23.6% Fib retracement level of the key drop from the $3,310 swing high to $2,951 low. Besides, there was a break above a key bearish trend line with resistance near $3,035 on the hourly chart of ETH\/USD. The price is now trading above the $3,050 level. On the upside, an initial resistance is seen near the $3,085 level. The next major resistance is near the $3,130 level and the 100 hourly simple moving average. The 50% Fib retracement level of the key drop from the $3,310 swing high to $2,951 low is also near the $3,130 level. A close above the $3,130 level and the 100 hourly simple moving average might start a decent recovery wave. Source: ETHUSD on TradingView.com The next major resistance could be near the $3,170. A clear move above the $3,170 resistance could set the pace for a move above the $3,200 level. In the stated case, the price could climb above the $3,250 zone. Fresh Decline in ETH? If ethereum fails to start a recovery wave above the $3,130 level, it could start a fresh decline. An initial support on the downside is near the $3,020 zone. The next major support is near the $2,950 level. If there is a downside break below the $2,950 support, the price could start another decline. In this scenario, there is a risk of a move towards the $2,840 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 level. Major Support Level \u2013 $2,950 Major Resistance Level \u2013 $3,130<\/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-488017","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 Faces Hurdles<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in ETH?<\/h2>\n