Ethereum

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-faces-critical-levels-as-market-fluctuates/" data-wpel-link="internal">Ethereum Faces Critical Levels as Market Fluctuates</a><br></p>
<p style="text-align: justify">In the cryptocurrency market, <a href="https://en.coin-turk.com/crypto-analyst-inmortal-predicts-a-bullish-future-for-ethereum/" data-wpel-link="internal">Ethereum</a> investors have entered a particularly volatile period following the decline of <a href="https://coin-turk.com/bitcoin-ve-ethereumda-kritik-seviyeler-yukselisin-oncusu-olabilir" data-wpel-link="internal">Bitcoin</a>. The recent drops in Ethereum’s price have started to unsettle investors. However, it is currently unclear whether this downward trend is permanent or just a temporary situation.</p> 
<h2 style="text-align: justify" id="ethereum-price-at-a-critical-resistance">Ethereum Price at a Critical Resistance</h2> 
<p style="text-align: justify">Ethereum’s price has recently fallen below the $3,320 support level, trading under $3,400 and the 100-hour Simple Moving Average. This has caused serious concern in the cryptocurrency market.</p> 
<p style="text-align: justify">On the hourly chart of <strong><a href="https://coin-turk.com/uzman-izleme-listesinden-2-altcoin-cikardi-iste-roketlemesi-muhtemel-2-coin" data-wpel-link="internal">Altcoin</a></strong> Ethereum, there is a significant downward trend line forming around the $3,320 resistance. However, there is a notable point: if Ethereum settles above the $3,320 resistance area, it could gain new upward momentum.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-336747 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ethereum-usdt-coin-turk-com-.png" alt="" width="1815" height="798"></p> 
<p style="text-align: justify">In particular, it’s mentioned that Ethereum could test the $3,500 resistance. But before reaching these levels, the price must overcome major resistance around $3,350. Subsequently, key resistance levels at $3,440 or even $3,550 could accelerate Ethereum’s upward movement. If Ethereum surpasses the $3,680 resistance, a journey to higher levels could be possible.</p> 
<h2 style="text-align: justify" id="if-eth-fails-to-break-critical-resistance">If ETH Fails to Break Critical Resistance</h2> 
<p style="text-align: justify">Concerns are growing about deepening lows if Ethereum fails to break the $3,320 resistance. In this case, a continuation of the downward trend is anticipated. The first significant support on the downside is currently near the $3,250 level.</p> 
<p style="text-align: justify">However, if the downward trend continues, Ethereum has the potential to go even lower. The first major support is near the $3,220 region, with the next key support possibly at the $3,120 level. If the $3,120 support is broken, this could lead Ethereum towards $3,040. Further losses could push the price down to the $3,000 level.</p> 
<h2 style="text-align: justify" id="critical-support-and-resistance-levels">Critical Support and Resistance Levels</h2> 
<p style="text-align: justify">Looking at technical indicators, the hourly MACD for <a href="https://en.coin-turk.com/ethereums-potential-rise-despite-current-dip/" data-wpel-link="internal">ETH</a>/USD is losing momentum in the bearish zone. The hourly RSI is also trending below the 50 level.</p> 
<p style="text-align: justify">In this context, the main support level is identified as $3,220, while the main resistance level is seen at $3,320. During this critical period for Ethereum, investors should be cautious and closely monitor the price trajectory. Whether the identified support and resistance levels are breached will be an important indicator.</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-faces-critical-levels-as-market-fluctuates/" data-wpel-link="internal">Ethereum Faces Critical Levels as Market Fluctuates</a></h5>

Ethereum Faces Critical Levels as Market Fluctuates

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