{"id":624344,"date":"2024-06-13T03:58:12","date_gmt":"2024-06-13T03:58:12","guid":{"rendered":"https:\/\/wncen.com\/?p=624344"},"modified":"2024-06-13T03:41:10","modified_gmt":"2024-06-13T03:41:10","slug":"ethereum-price-slope-3550","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-slope-3550\/","title":{"rendered":"Ethereum Price Slippery Slope: More Downside Risks in Sight"},"content":{"rendered":"<p><em>Ethereum price failed to clear the $3,650 resistance. ETH declined again after the Fed decision and now shows bearish signs below the $3,550 level.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh decline below the $3,580 support zone.<\/li>\n<li>The price is trading below $3,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $3,610 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could extend losses if it stays below the $3,600 resistance zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Dips Again<\/h2>\n<p>Ethereum price attempted a recovery wave above the $3,550 and $3,580 resistance levels. However, ETH failed to settle above the $3,650 level and started another decline. There was a steady decline below the $3,580 level, like <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-rejects-70k-2\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>.<\/p>\n<p>The price declined below the <a href=\"https:\/\/wncen.com\/news\/ethereum-price-slips-3430\/\" target=\"_blank\" rel=\"noopener \">$3,550 support level<\/a>. There was a move below the 61.8% Fib retracement level of the upward move from the $3,431 swing low to the $3,655 high.<\/p>\n<p>Ethereum is now trading below $3,550 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $3,610 on the hourly chart of ETH\/USD. If there is a fresh increase, the price might face resistance near the $3,580 level.<\/p>\n<p>The first major resistance is near the $3,600 level and the trend line. An upside break above the $3,600 resistance might send the price higher. The next key resistance sits at $3,650, above which the price might gain traction and rise toward the $3,720 level.<\/p>\n<figure id=\"attachment_624345\" aria-describedby=\"caption-attachment-624345\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum_3fad0b.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-624345 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum_3fad0b.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum_3fad0b.png?w=1835 1835w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum_3fad0b.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum_3fad0b.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum_3fad0b.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum_3fad0b.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum_3fad0b.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum_3fad0b.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-624345\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>A clear move above the $3,720 level might call for a test of the $3,800 resistance. Any more gains could send Ether toward the $3,880 resistance zone.<\/p>\n<h2>More Downsides In ETH?<\/h2>\n<p>If Ethereum fails to clear the $3,600 resistance, it could continue to move down. Initial support on the downside is near $3,480 and the 76.4% Fib retracement level of the upward move from the $3,431 swing low to the $3,655 high. The next major support is near the $3,420 zone.<\/p>\n<p>A clear move below the $3,420 support might push the price toward $3,320. Any more losses might send the price toward the $3,250 level in the near term.<\/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 zone.<\/p>\n<p>Major Support Level \u2013 $3,420<\/p>\n<p>Major Resistance Level \u2013 $3,600<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price failed to clear the $3,650 resistance. ETH declined again after the Fed decision and now shows bearish signs below the $3,550 level. Ethereum started a fresh decline below the $3,580 support zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $3,610 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could extend losses if it stays below the $3,600 resistance zone. Ethereum Price Dips Again Ethereum price attempted a recovery wave above the $3,550 and $3,580 resistance levels. However, ETH failed to settle above the $3,650 level and started another decline. There was a steady decline below the $3,580 level, like Bitcoin. The price declined below the $3,550 support level. There was a move below the 61.8% Fib retracement level of the upward move from the $3,431 swing low to the $3,655 high. Ethereum is now trading below $3,550 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $3,610 on the hourly chart of ETH\/USD. If there is a fresh increase, the price might face resistance near the $3,580 level. The first major resistance is near the $3,600 level and the trend line. An upside break above the $3,600 resistance might send the price higher. The next key resistance sits at $3,650, above which the price might gain traction and rise toward the $3,720 level. A clear move above the $3,720 level might call for a test of the $3,800 resistance. Any more gains could send Ether toward the $3,880 resistance zone. More Downsides In ETH? If Ethereum fails to clear the $3,600 resistance, it could continue to move down. Initial support on the downside is near $3,480 and the 76.4% Fib retracement level of the upward move from the $3,431 swing low to the $3,655 high. The next major support is near the $3,420 zone. A clear move below the $3,420 support might push the price toward $3,320. Any more losses might send the price toward the $3,250 level in the near term. 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 zone. Major Support Level \u2013 $3,420 Major Resistance Level \u2013 $3,600<\/p>\n","protected":false},"author":67,"featured_media":624346,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83362],"tags":[65296,1946,8686,78803],"class_list":["post-624344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Slippery Slope: More Downside Risks in Sight<\/title>\n<meta name=\"description\" content=\"Ethereum price failed to clear the $3,650 resistance. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Price Slippery Slope: More Downside Risks in Sight","url":"http:\/\/wncen.com\/analysis\/eth\/ethereum-price-slope-3550\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/analysis\/eth\/ethereum-price-slope-3550\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum-dips.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum-dips.jpeg?fit=1792%2C1024"},"articleSection":"ETH","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["ethbtc","ethereum","ethusd","ethusdt"],"dateCreated":"2024-06-13T03:58:12Z","datePublished":"2024-06-13T03:58:12Z","dateModified":"2024-06-13T03:58:12Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Slippery Slope: More Downside Risks in Sight\",\"url\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/eth\\\/ethereum-price-slope-3550\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/eth\\\/ethereum-price-slope-3550\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Ethereum-dips.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/06\\\/Ethereum-dips.jpeg?fit=1792%2C1024\"},\"articleSection\":\"ETH\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"ethbtc\",\"ethereum\",\"ethusd\",\"ethusdt\"],\"dateCreated\":\"2024-06-13T03:58:12Z\",\"datePublished\":\"2024-06-13T03:58:12Z\",\"dateModified\":\"2024-06-13T03:58:12Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/06\/Ethereum-dips.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/624344"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=624344"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/624344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/624346"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=624344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=624344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=624344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}