Ethereum

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-slump-continues-as-value-dips-below-3100" rel="noopener noreferrer nofollow">Ethereum Slump Continues as Value Dips Below $3,100</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/spanish-fintech-monei-initiates-trial-for-new-digital-euro-alternative" rel="noopener noreferrer nofollow">cryptocurrency</a> market has seen <a href="https://en.bitcoinhaber.net/ethereum-surges-past-significant-price-barrier" rel="noopener noreferrer nofollow">Ethereum</a>‘s value fall sharply, breaking below the $3,100 mark. This downward trajectory indicates that market bears may be aiming for the $3,000 support level. Ethereum’s decline follows a pattern of correction that began after the digital currency failed to maintain its position above the $3,350 threshold.</p>
<h2 id="ethereum-s-market-struggle">Ethereum’s Market Struggle</h2>
<p style="text-align: justify">The current trading price of Ethereum is not only below the $3,350 support but also beneath the 100-hour Simple Moving Average, signaling a bearish phase. Ethereum’s performance mirrors <a href="https://en.bitcoinhaber.net/bitcoin-ecosystem-encounters-a-surge-with-brc-20-tokens" rel="noopener noreferrer nofollow">Bitcoin</a>‘s recent dip, where both cryptocurrencies have been unable to hold key resistance levels, resulting in further losses for Ethereum.</p>
<p style="text-align: justify">After breaching the $3,100 support, Ethereum’s value plunged to a low of $3,056. Prices are currently consolidating after the fall, yet the Fibonacci retracement levels suggest that the bearish trend may persist.</p>
<h2 id="key-technical-indicators">Key Technical Indicators</h2>
<p style="text-align: justify">Ethereum faces immediate resistance near the $3,280 mark, with even more significant resistance at $3,350. Another substantial barrier is at the $3,420 resistance level, where a descending trend line on the hourly chart could cap potential upward movements.</p>
<p style="text-align: justify">The dominance of bearish sentiment in the market suggests that Ethereum’s short-term outlook is challenging. The holding pattern at the $3,000 support level is critical, and any breach below could lead to further declines.</p>
<h2 id="challenges-and-opportunities-for-ethereum">Challenges and Opportunities for Ethereum</h2>
<p style="text-align: justify">Should Ethereum succeed in overcoming the $3,550 resistance, it might gain the necessary momentum to approach the $3,650 mark. Surpassing this could open the door for a surge towards $3,800, potentially even reaching the $4,000 milestone.</p>
<p style="text-align: justify">Conversely, if Ethereum fails to break the $3,420 resistance, the coin is likely to continue its descent. The next support level to watch would be around $3,050, with a potential slide towards the pivotal $3,000 region and possibly down to $2,950 if the decline extends.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-slump-continues-as-value-dips-below-3100" rel="noopener noreferrer nofollow">Ethereum Slump Continues as Value Dips Below $3,100</a></h5>

Ethereum Slump Continues as Value Dips Below $3,100

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