{"id":470082,"date":"2021-08-25T05:08:29","date_gmt":"2021-08-25T05:08:29","guid":{"rendered":"https:\/\/wncen.com\/?p=470082"},"modified":"2024-06-11T13:58:00","modified_gmt":"2024-06-11T13:58:00","slug":"ethereum-extends-decline-3k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-extends-decline-3k\/","title":{"rendered":"TA: Ethereum Extends Decline, Why ETH Could Revisit $3K"},"content":{"rendered":"
Ethereum extended its decline below the $3,200 support against the US Dollar. ETH price is at a risk of more downsides below the $3,120 support zone.<\/em><\/p>\n Ethereum failed to stay above the $3,300 support zone and extended its losses. ETH price broke the key $3,250 support zone to enter a bearish zone, similar to bitcoin<\/a>.<\/p>\n The price even broke the $3,200 support level and the 100 hourly simple moving average. Ether traded as low as $3,150 and it is now consolidating losses. It recovered above the $3,170 and $3,180 levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $3,380 swing high to $3,150 low.<\/p>\n It is now consolidating below $3,250 and the 100 hourly simple moving average<\/a>. There is also a key bearish continuation pattern forming with support near $3,170 on the hourly chart of ETH\/USD.<\/p>\n On the upside, an initial resistance is near the $3,200 and $3,220 levels. A clear break above the triangle resistance and $3,220 might call for a steady increase. The next key resistance is now forming near the $3,265 level. It is close to the 50% Fib retracement level of the recent decline from the $3,380 swing high to $3,150 low.<\/p>\n <\/a><\/p>\n Any more gains may possibly call for a move towards the $3,300 level in the near term. An intermediate resistance may possibly be near the $3,292 level.<\/p>\n If ethereum fails to continue higher above the $3,200 and $3,220 resistance levels, it could extend its decline. An immediate support on the downside is near the $3,150 level.<\/p>\n The key support is now forming near the $3,120 zone. A downside break below the $3,120 support zone could push the price further lower. The next major support could be $3,000.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is still below the 50 level.<\/p>\n Major Support Level \u2013 $3,120<\/p>\n Major Resistance Level \u2013 $3,265<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum extended its decline below the $3,200 support against the US Dollar. ETH price is at a risk of more downsides below the $3,120 support zone. Ethereum extended its decline below the $3,250 and $3,200 support levels. The price is now trading below $3,250 and the 100 hourly simple moving average. There is a key bearish continuation pattern forming with support near $3,170 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue lower if it fails to stay above the $3,120 support zone. Ethereum Price Corrects Lower Ethereum failed to stay above the $3,300 support zone and extended its losses. ETH price broke the key $3,250 support zone to enter a bearish zone, similar to bitcoin. The price even broke the $3,200 support level and the 100 hourly simple moving average. Ether traded as low as $3,150 and it is now consolidating losses. It recovered above the $3,170 and $3,180 levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $3,380 swing high to $3,150 low. It is now consolidating below $3,250 and the 100 hourly simple moving average. There is also a key bearish continuation pattern forming with support near $3,170 on the hourly chart of ETH\/USD. On the upside, an initial resistance is near the $3,200 and $3,220 levels. A clear break above the triangle resistance and $3,220 might call for a steady increase. The next key resistance is now forming near the $3,265 level. It is close to the 50% Fib retracement level of the recent decline from the $3,380 swing high to $3,150 low. Source: ETHUSD on TradingView.com Any more gains may possibly call for a move towards the $3,300 level in the near term. An intermediate resistance may possibly be near the $3,292 level. More Losses in ETH? If ethereum fails to continue higher above the $3,200 and $3,220 resistance levels, it could extend its decline. An immediate support on the downside is near the $3,150 level. The key support is now forming near the $3,120 zone. A downside break below the $3,120 support zone could push the price further lower. The next major support could be $3,000. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is still below the 50 level. Major Support Level \u2013 $3,120 Major Resistance Level \u2013 $3,265<\/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-470082","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 Corrects Lower<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n