Ethereum

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-slides-below-3100/" data-wpel-link="internal">Ethereum Price Slides Below $3,100</a><br></p>
<p style="text-align: justify">In the crypto market, the price of <strong><a href="https://coin-turk.com/analitik-sirketi-paylasti-ethereum-duserken-bu-veride-inanilmaz-artis-yasaniyor" data-wpel-link="internal">Ethereum</a></strong> has accelerated its expected downward trend in recent days, falling below $3,100. This decline is interpreted as the bears now targeting a move towards the $3,000 support region.</p> 
<h2 style="text-align: justify" id="ethereum-price-decline">Ethereum Price Decline</h2> 
<p style="text-align: justify"><a href="https://en.coin-turk.com/ethereums-rise-against-bitcoin-a-closer-look/" data-wpel-link="internal">Ethereum</a>‘s correction movement, which started below the $3,350 region, paints a negative picture in the short term. Currently, the price is trading below $3,350 and the 100-hour Simple Moving Average.</p> 
<p style="text-align: justify">Ethereum’s price, like <strong><a href="https://coin-turk.com/woo-siz-uyurken-kripto-paralar-buraya-gidecek-cok-yakinda-kritik-bolgeye" data-wpel-link="internal">Bitcoin</a></strong>, has recently been trending below the $3,550 and $3,500 levels and continues to stay in the short-term downtrend zone. This situation led to a decline below the support level of $3,350, causing <a href="https://en.coin-turk.com/crypto-analyst-warns-of-potential-ethereum-crash-as-altcoin-market-shows-weakness/" data-wpel-link="internal">ETH</a> to experience further drops.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-330505 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/03/ethereum-eth-coin-turk-com.png" alt="" width="1815" height="836"></p> 
<p style="text-align: justify">Lastly, the price dropped below the $3,100 support level and saw lows such as $3,056. The price is currently consolidating these losses, but looking at the Fibonacci retracement levels, the downward trend still appears to be strong.</p> 
<h2 style="text-align: justify" id="resistance-and-support-levels">Resistance and Support Levels</h2> 
<p style="text-align: justify">While Ethereum’s price is trading below the $3,350 support level and the 100-hour Simple Moving Average, the immediate resistance is around $3,280. However, surpassing the significant resistance level of $3,350 seems quite challenging at the moment.</p> 
<p style="text-align: justify">The critical $3,420 resistance level stands as the next major hurdle for Ethereum. A large descending trend line formed near this level on the hourly chart could limit the price’s upward movements.</p> 
<p style="text-align: justify">In light of all this data, it can be said that Ethereum is going through a difficult period in the near term and the bears are holding control. The $3,000 support region is critical for ETH and is a level that should be closely monitored.</p> 
<h2 style="text-align: justify" id="upside-potential-and-downward-trend">Upside Potential and Downward Trend</h2> 
<p style="text-align: justify">If Ethereum’s price can surpass the $3,550 resistance level, it could gain upward momentum. In this case, Ethereum could rise towards the $3,650 level.</p> 
<p style="text-align: justify">If there is a move above the $3,650 resistance, Ethereum could experience a rapid rise towards the $3,800 resistance. Moreover, this upward trend could even prompt a test of the $4,000 level.</p> 
<p style="text-align: justify">If Ethereum cannot surpass the $3,420 resistance, the downward movement may continue. In this case, the first support level will be around $3,050. Further losses could push the price towards the $3,000 region. And if this support is broken, a support level of $2,950 is expected.</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-slides-below-3100/" data-wpel-link="internal">Ethereum Price Slides Below $3,100</a></h5>

Ethereum Price Slides Below $3,100

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