Ethereum

Cryptocurrency

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-undergoes-correction-as-support-levels-are-tested/" data-wpel-link="internal">Ethereum Price Undergoes Correction as Support Levels Are Tested</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/dijital-dolar-sonunda-fedin-bulteninde-yer-buldu" data-wpel-link="internal">Cryptocurrency</a></strong> markets have been volatile lately, affecting the price of <a href="https://coin-turk.com/ethereumda-yeni-rekorlar-geliyor-eth-fiyati-nasil-etkilenecek" data-wpel-link="internal">Ethereum</a> as well. <a href="https://en.coin-turk.com/grayscales-delayed-decision-on-futures-eth-etf/" data-wpel-link="internal">ETH</a> has fallen below $3,500, widening its downward trend. There is a warning that this decline could continue down to the $3,200 support region, where a struggle between bears and bulls is expected.</p> 
<h2 style="text-align: justify" id="ethereum-initiates-a-downward-correction">Ethereum Initiates a Downward Correction</h2> 
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/anticipations-in-the-crypto-market-bitcoin-etf-approval-and-ethereum-developments/" data-wpel-link="internal">Ethereum</a></strong> has recently started a downward correction below the $3,550 region. Trading below $3,550 and the 100-hour Simple Moving Average indicates a strengthening downtrend. The significant downward trend line formed on the hourly charts suggests the decline could continue as long as it stays below the $3,520 resistance.</p> 
<p style="text-align: justify">Ethereum’s price, similar to the correction in <a href="https://coin-turk.com/usta-trader-peter-brandt-acikladi-bitcoin-ayi-piyasasi-sinyali-mi-veriyor" data-wpel-link="internal">Bitcoin</a>‘s price, has experienced a downward correction below the $3,720 and $3,650 levels. ETH has fallen below the $3,550 support level and is currently trading below $3,420.</p> 
<p style="text-align: justify">Analysts indicate that Ethereum could make a rise towards the $3,650 level. However, a sustained move above this resistance could accelerate ETH’s rise towards the $3,825 resistance. Nevertheless, it should not be forgotten that a test of the $4,000 level might be necessary for further gains.</p> 
<h2 style="text-align: justify" id="critical-support-and-resistance-levels-for-eth">Critical Support and Resistance Levels for ETH</h2> 
<p style="text-align: justify">At present, the first support on the downside is around $3,300. However, the critical support point lies at the $3,270 region. If this level is broken, the next significant support is expected around $3,250. A clear decline below this level could pull ETH’s price down to $3,200 and even further losses could lead to a drop towards the $3,150 levels.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-329985 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ethereum-usdt-coin-turk-com-.png" alt="" width="1815" height="836"></p> 
<p style="text-align: justify">Technical indicators also seem to support this negative outlook. Particularly, the hourly MACD is gaining momentum in the bearish zone for ETH/USD. Similarly, the hourly RSI is currently trending below the 50 level, indicating increased selling pressure.</p> 
<p style="text-align: justify">Of course, the key strategy for investors during these challenging times will be to closely monitor the market pulse and manage their risks appropriately. Currently, the main support level is identified as $3,200, while the main resistance level is around $3,520.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-price-undergoes-correction-as-support-levels-are-tested/" data-wpel-link="internal">Ethereum Price Undergoes Correction as Support Levels Are Tested</a></h5>

Ethereum Price Undergoes Correction as Support Levels Are Tested

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