ETHUSD on TradingView.com<\/a><\/pre>\nThe 50% Fib retracement level of the recent decline from the $3,082 swing high to $2,896 low is also near the $2,990 level. A close above the $3,000 level and the 100 hourly simple moving average might start a decent recovery wave. The next major resistance could be near the $3,050.<\/p>\n
More Losses in ETH?<\/h2>\n If ethereum fails to start a recovery wave above the $3,000 level, it could continue to move down. An initial support on the downside is near the $2,900 zone.<\/p>\n
The next major support is near the $2,850 level. If there is a downside break below the $2,850 support, the price could start another decline. In this scenario, there is a risk of a move towards the $2,780 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bearish zone.<\/p>\nHourly RSI – <\/strong>The RSI for ETH\/USD is now below the 30 level.<\/p>\nMajor Support Level \u2013 $2,900<\/p>\n
Major Resistance Level \u2013 $3,000<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum started a fresh decline from the $3,080 resistance against the US Dollar. ETH price traded below the key $3,000 support and even declined below $2,920. Ethereum failed to clear $3,080 and started a fresh decline. The price is now trading below $3,000 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $3,030 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could recover, but upsides might be capped near the $2,950 level. Ethereum Price Breaks Key Support Ethereum attempted a fresh increase above the $3,050 level and the 100 hourly simple moving average. However, ETH failed to gain strength above the $3,080 level. A high was formed near $3,082 and the price started a fresh decline. There was a clear move below the $3,050 support level and the 100 hourly simple moving average. Besides, there was a break below a key rising channel with support near $3,030 on the hourly chart of ETH\/USD. The pair traded below the $3,000 support zone. More importantly, there was a move below the $2,920 support. A low is formed near $2,896 and ether is now consolidating losses. On the upside, an initial resistance is seen near the $2,940 level. It is near the 23.6% Fib retracement level of the recent decline from the $3,082 swing high to $2,896 low. The next major resistance is near the $2,980 and $3,000 levels. Source: ETHUSD on TradingView.com The 50% Fib retracement level of the recent decline from the $3,082 swing high to $2,896 low is also near the $2,990 level. A close above the $3,000 level and the 100 hourly simple moving average might start a decent recovery wave. The next major resistance could be near the $3,050. More Losses in ETH? If ethereum fails to start a recovery wave above the $3,000 level, it could continue to move down. An initial support on the downside is near the $2,900 zone. The next major support is near the $2,850 level. If there is a downside break below the $2,850 support, the price could start another decline. In this scenario, there is a risk of a move towards the $2,780 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 30 level. Major Support Level \u2013 $2,900 Major Resistance Level \u2013 $3,000<\/p>\n","protected":false},"author":67,"featured_media":464166,"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-488283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n
TA: Ethereum Slides Below 3K, Why Bears Could Aim $2.5K<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n