ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\nA close above the $3,450 level might send Ethereum toward the $3,520 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher. The next key resistance sits at $3,620, above which the price might gain traction and rise toward the $3,650 level. Any more gains could send Ether toward the $3,720 resistance zone.<\/p>\n
Another Drop In ETH?<\/h2>\n
If Ethereum fails to clear the $3,420 resistance, it could start another decline. Initial support on the downside is near $3,375. The first major support sits near the $3,350 zone.<\/p>\n
A clear move below the $3,350 support might push the price toward $3,280. Any more losses might send the price toward the $3,240 level in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\nHourly RSI – <\/strong>The RSI for ETH\/USD is now above the 50 zone.<\/p>\nMajor Support Level \u2013 $3,300<\/p>\n
Major Resistance Level \u2013 $3,420<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price started a recovery wave from the $3,230 zone. ETH climbed above $3,350, but it now faces strong resistance at $3,420. Ethereum started an upside correction from the $3,240 support zone. The price is trading below $3,420 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must clear the $3,420 and $3,450 resistance levels to continue higher. Ethereum Price Eyes Recovery Ethereum price extended losses and traded below the $3,350 zone. ETH even tested the $3,240 support zone before it started a recovery wave like Bitcoin. There was a decent increase above the $3,300 and $3,320 levels. The bulls pushed the price above $3,350. It even spiked above the 61.8% Fib retracement level of the downward move from the $3,518 swing high to the $3,230 low. However, the price seems to be facing strong resistance near the $3,420 zone. There is also a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH\/USD. Ethereum is still trading below $3,420 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the trend line and $3,420. The first major resistance is near the $3,450 level. It is close to the 76.4% Fib retracement level of the downward move from the $3,518 swing high to the $3,230 low. A close above the $3,450 level might send Ethereum toward the $3,520 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher. The next key resistance sits at $3,620, above which the price might gain traction and rise toward the $3,650 level. Any more gains could send Ether toward the $3,720 resistance zone. Another Drop In ETH? If Ethereum fails to clear the $3,420 resistance, it could start another decline. Initial support on the downside is near $3,375. The first major support sits near the $3,350 zone. A clear move below the $3,350 support might push the price toward $3,280. Any more losses might send the price toward the $3,240 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now above the 50 zone. Major Support Level \u2013 $3,300 Major Resistance Level \u2013 $3,420<\/p>\n","protected":false},"author":67,"featured_media":626395,"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-626393","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
Ethereum Price Faces Recovery Hurdle: Examining The Roadblocks Ahead<\/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