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{"id":631421,"date":"2024-07-25T02:48:58","date_gmt":"2024-07-25T02:48:58","guid":{"rendered":"https:\/\/wncen.com\/?p=631421"},"modified":"2024-07-25T02:27:28","modified_gmt":"2024-07-25T02:27:28","slug":"ethereum-price-drops-3200-2","status":"publish","type":"post","link":"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-drops-3200-2\/","title":{"rendered":"Ethereum Price Drops 8%: What’s Next for the Altcoin Giant?"},"content":{"rendered":"

Ethereum price started a major decline from the $3,500 resistance zone. ETH is down over 8% and might continue to decline toward the $3,120 support.<\/em><\/p>\n

\n
Ethereum is gaining bearish pace from the $3,500 resistance zone.<\/li>\n
The price is trading below $3,400 and the 100-hourly Simple Moving Average.<\/li>\n
There was a break below a key declining channel with support at $3,380 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could continue to move down toward the $3,120 support zone.<\/li>\n<\/ul>\n
Ethereum Price Dives Below $3,350<\/h2>\n
Ethereum price failed to start a fresh increase above the $3,500 resistance zone. ETH started a fresh decline and traded below the $3,400 support zone. It declined by over 8% more than Bitcoin<\/a>.<\/p>\n
There was a break below a key declining channel with support at $3,380 on the hourly chart of ETH\/USD. The pair even declined below the $3,200 level and tested $3,180. A low is formed near $3,183 and the price is showing signs of more losses.<\/p>\n
Ethereum is now trading below $3,400 and the 100-hourly Simple Moving Average<\/a>. If there is a recovery wave, the price could face resistance near the 23.6% Fib retracement level of the downward move from the $3,500 swing high to the $3,183 low at $3,250.<\/p>\n
The first major resistance is near the $3,300 level. The next major hurdle is near the $3,350 level and the 50% Fib retracement level of the downward move from the $3,500 swing high to the $3,183 low. A close above the $3,350 level might send Ether toward the $3,380 resistance.<\/p>\n
$\"Ethereum$ <\/a>
Source: ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n
The next key resistance is near $3,425. An upside break above the $3,425 resistance might send the price higher toward the $3,500 resistance zone.<\/p>\n
More Losses In ETH?<\/h2>\n
If Ethereum fails to clear the $3,250 resistance, it could continue to move down. Initial support on the downside is near $3,180. The first major support sits near the $3,120 zone.<\/p>\n
A clear move below the $3,150 support might push the price toward $3,080. Any more losses might send the price toward the $3,020 support level in the near term. The next key support sits at $2,950.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n
Major Support Level \u2013 $3,150<\/p>\n
Major Resistance Level \u2013 $3,250<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price started a major decline from the $3,500 resistance zone. ETH is down over 8% and might continue to decline toward the $3,120 support. Ethereum is gaining bearish pace from the $3,500 resistance zone. The price is trading below $3,400 and the 100-hourly Simple Moving Average. There was a break below a key declining channel with support at $3,380 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to move down toward the $3,120 support zone. Ethereum Price Dives Below $3,350 Ethereum price failed to start a fresh increase above the $3,500 resistance zone. ETH started a fresh decline and traded below the $3,400 support zone. It declined by over 8% more than Bitcoin. There was a break below a key declining channel with support at $3,380 on the hourly chart of ETH\/USD. The pair even declined below the $3,200 level and tested $3,180. A low is formed near $3,183 and the price is showing signs of more losses. Ethereum is now trading below $3,400 and the 100-hourly Simple Moving Average. If there is a recovery wave, the price could face resistance near the 23.6% Fib retracement level of the downward move from the $3,500 swing high to the $3,183 low at $3,250. The first major resistance is near the $3,300 level. The next major hurdle is near the $3,350 level and the 50% Fib retracement level of the downward move from the $3,500 swing high to the $3,183 low. A close above the $3,350 level might send Ether toward the $3,380 resistance. The next key resistance is near $3,425. An upside break above the $3,425 resistance might send the price higher toward the $3,500 resistance zone. More Losses In ETH? If Ethereum fails to clear the $3,250 resistance, it could continue to move down. Initial support on the downside is near $3,180. The first major support sits near the $3,120 zone. A clear move below the $3,150 support might push the price toward $3,080. Any more losses might send the price toward the $3,020 support level in the near term. The next key support sits at $2,950. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 zone. Major Support Level \u2013 $3,150 Major Resistance Level \u2013 $3,250<\/p>\n","protected":false},"author":67,"featured_media":631423,"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-631421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Drops 8%: What's Next for the Altcoin Giant?<\/title>\n<meta name=\"description\" content=\"Ethereum price started a major decline from the $3,500 resistance zone. 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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 Drops 8%: What’s Next for the Altcoin Giant?","url":"http:\/\/wncen.com\/analysis\/eth\/ethereum-price-drops-3200-2\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/analysis\/eth\/ethereum-price-drops-3200-2\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Ethereum-down-8.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/Ethereum-down-8.jpg?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":"2024-07-25T02:48:58Z","datePublished":"2024-07-25T02:48:58Z","dateModified":"2024-07-25T02:48:58Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Drops 8%: What’s Next for the Altcoin Giant?\",\"url\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/eth\\\/ethereum-price-drops-3200-2\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/analysis\\\/eth\\\/ethereum-price-drops-3200-2\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Ethereum-down-8.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/Ethereum-down-8.jpg?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\":\"2024-07-25T02:48:58Z\",\"datePublished\":\"2024-07-25T02:48:58Z\",\"dateModified\":\"2024-07-25T02:48:58Z\"}<\/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\/07\/Ethereum-down-8.jpg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/631421","targetHints":{"allow":["GET"]}}],"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=631421"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/631421\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/631423"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=631421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=631421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=631421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}