{"id":488342,"date":"2022-04-19T05:08:07","date_gmt":"2022-04-19T05:08:07","guid":{"rendered":"https:\/\/wncen.com\/?p=488342"},"modified":"2024-06-11T14:19:14","modified_gmt":"2024-06-11T14:19:14","slug":"ethereum-reaches-key-inflection-zone-3100","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-reaches-key-inflection-zone-3100\/","title":{"rendered":"TA: Ethereum Reaches Key Inflection Zone, $3,100 Is The Key"},"content":{"rendered":"
Ethereum started a steady recovery wave above the $2,980 resistance against the US Dollar. ETH price is now facing a strong resistance near $3,080 and $3,100.<\/em><\/p>\n Ethereum extended decline below the $2,980 support<\/a> and the 100 hourly simple moving average. ETH even spiked below the $2,900 level, but it found a major support near $2,880.<\/p>\n A low was formed near $2,880 and the price started a steady increase. There was a move above the $2,980 and $3,000 resistance levels. Ether price is now trading above $3,000 and the 100 hourly simple moving average<\/a>.<\/p>\n A high is formed near $3,068 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent increase from the $2,880 swing low to $3,068 high. On the upside, an initial resistance is seen near the $3,070 level.<\/p>\n There is also a key bearish trend line forming with resistance near $3,070 on the hourly chart of ETH\/USD. The next major resistance is near the $3,080 and $3,100 levels.<\/p>\n <\/a><\/p>\n A close above the $3,100 level might start a steady upward move in the near term. The next major resistance could be near the $3,150 or $3,220.<\/p>\n If ethereum fails to gain pace above the $3,100 level, it could start a downside correction. An initial support on the downside is near the $3,020 zone and the 100 hourly simple moving average.<\/p>\n The next major support is near the $2,980 level. It is close to the 50% Fib retracement level of the recent increase from the $2,880 swing low to $3,068 high. If there is a downside break below the $2,980 support, the price could start another decline. In this scenario, there is a risk of a move towards the $2,880 level.<\/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 above the 50 level.<\/p>\n Major Support Level \u2013 $2,980<\/p>\n Major Resistance Level \u2013 $3,100<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started a steady recovery wave above the $2,980 resistance against the US Dollar. ETH price is now facing a strong resistance near $3,080 and $3,100. Ethereum started a major upside correction from the $2,880 zone. The price is now trading above $3,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $3,070 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must clear $3,080 and $3,100 to start a strong upward move. Ethereum Price Recovers Losses Ethereum extended decline below the $2,980 support and the 100 hourly simple moving average. ETH even spiked below the $2,900 level, but it found a major support near $2,880. A low was formed near $2,880 and the price started a steady increase. There was a move above the $2,980 and $3,000 resistance levels. Ether price is now trading above $3,000 and the 100 hourly simple moving average. A high is formed near $3,068 and the price is now consolidating gains. It is trading above the 23.6% Fib retracement level of the recent increase from the $2,880 swing low to $3,068 high. On the upside, an initial resistance is seen near the $3,070 level. There is also a key bearish trend line forming with resistance near $3,070 on the hourly chart of ETH\/USD. The next major resistance is near the $3,080 and $3,100 levels. Source: ETHUSD on TradingView.com A close above the $3,100 level might start a steady upward move in the near term. The next major resistance could be near the $3,150 or $3,220. Fresh Decline in ETH? If ethereum fails to gain pace above the $3,100 level, it could start a downside correction. An initial support on the downside is near the $3,020 zone and the 100 hourly simple moving average. The next major support is near the $2,980 level. It is close to the 50% Fib retracement level of the recent increase from the $2,880 swing low to $3,068 high. If there is a downside break below the $2,980 support, the price could start another decline. In this scenario, there is a risk of a move towards the $2,880 level. 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 above the 50 level. Major Support Level \u2013 $2,980 Major Resistance Level \u2013 $3,100<\/p>\n","protected":false},"author":67,"featured_media":464347,"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-488342","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 Recovers Losses<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in ETH?<\/h2>\n