{"id":598756,"date":"2024-03-20T04:12:26","date_gmt":"2024-03-20T04:12:26","guid":{"rendered":"https:\/\/wncen.com\/?p=598756"},"modified":"2024-06-11T08:04:25","modified_gmt":"2024-06-11T08:04:25","slug":"ethereum-price-bears-aim-3000","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-price-bears-aim-3000\/","title":{"rendered":"Ethereum Price Bears Aim For $3,000, Can ETH Stay Above This Support?"},"content":{"rendered":"<p><em>Ethereum price extended its decline below $3,200. ETH is struggling and it seems like the bears are now aiming for a move toward the $3,000 support zone.<\/em><\/p>\n<ul>\n<li>Ethereum started a downside correction below the $3,350 zone.<\/li>\n<li>The price is trading below $3,350 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a major bearish trend line forming with resistance at $3,420 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could resume its decline if it stays below the $3,420 and $3,500 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Breaks Support<\/h2>\n<p>Ethereum price remained in a short-term bearish zone below the $3,550 and $3,500 levels, like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-turns-red-62k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>. ETH declined below the $3,350 support level to move further in a short-term bearish zone.<\/p>\n<p>Finally, the price traded below the $3,200 support. A low was formed at $3,162 and the price is now consolidating losses. It is showing a few bearish signs below the 23.6% Fib retracement level of the <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-extends-losses-3200\/\" target=\"_blank\" rel=\"noopener \">downward wave<\/a> from the $3,675 swing high to the $3,162 low.<\/p>\n<p>Ethereum price is now trading below $3,350 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $3,280 level. The first major resistance is near the $3,350 level.<\/p>\n<p>The next key resistance sits at $3,420. There is also a major bearish trend line forming with resistance at $3,420 on the hourly chart of ETH\/USD. It is close to the 50% Fib retracement level of the downward wave from the $3,675 swing high to the $3,162 low.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_05ce6f.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-598757\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_05ce6f.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_05ce6f.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_05ce6f.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_05ce6f.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_05ce6f.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_05ce6f.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_05ce6f.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/03\/Ethereum_05ce6f.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/p>\n<p>The next major resistance is near $3,550, above which the price might gain bullish momentum. In the stated case, Ether could rally toward the $3,650 level. If there is a move above the $3,650 resistance, Ethereum could even rise toward the $3,800 resistance. Any more gains might call for a test of $4,000.<\/p>\n<h2>More Losses In ETH?<\/h2>\n<p>If Ethereum fails to clear the $3,420 resistance, it could continue to move down. Initial support on the downside is near the $3,260 level.<\/p>\n<p>The first major support is near the $3,200 zone. The next key support could be the $3,120 zone. A clear move below the $3,120 support might send the price toward $3,050. Any more losses might send the price toward the $3,000 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n<p>Major Support Level \u2013 $3,260<\/p>\n<p>Major Resistance Level \u2013 $3,420<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price extended its decline below $3,200. ETH is struggling and it seems like the bears are now aiming for a move toward the $3,000 support zone. Ethereum started a downside correction below the $3,350 zone. The price is trading below $3,350 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance at $3,420 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could resume its decline if it stays below the $3,420 and $3,500 resistance levels. Ethereum Price Breaks Support Ethereum price remained in a short-term bearish zone below the $3,550 and $3,500 levels, like Bitcoin. ETH declined below the $3,350 support level to move further in a short-term bearish zone. Finally, the price traded below the $3,200 support. A low was formed at $3,162 and the price is now consolidating losses. It is showing a few bearish signs below the 23.6% Fib retracement level of the downward wave from the $3,675 swing high to the $3,162 low. Ethereum price is now trading below $3,350 and the 100-hourly Simple Moving Average. On the upside, immediate resistance is near the $3,280 level. The first major resistance is near the $3,350 level. The next key resistance sits at $3,420. There is also a major bearish trend line forming with resistance at $3,420 on the hourly chart of ETH\/USD. It is close to the 50% Fib retracement level of the downward wave from the $3,675 swing high to the $3,162 low. Source: ETHUSD on TradingView.com The next major resistance is near $3,550, above which the price might gain bullish momentum. In the stated case, Ether could rally toward the $3,650 level. If there is a move above the $3,650 resistance, Ethereum could even rise toward the $3,800 resistance. Any more gains might call for a test of $4,000. More Losses In ETH? If Ethereum fails to clear the $3,420 resistance, it could continue to move down. Initial support on the downside is near the $3,260 level. The first major support is near the $3,200 zone. The next key support could be the $3,120 zone. A clear move below the $3,120 support might send the price toward $3,050. Any more losses might send the price toward the $3,000 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $3,260 Major Resistance Level \u2013 $3,420<\/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":[65296,1946,8686,78803],"class_list":["post-598756","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Bears Aim For $3,000, Can ETH Stay Above This Support?<\/title>\n<meta name=\"description\" content=\"Ethereum price extended its decline below $3,200. 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