Ethereum

Cryptocurrency

Hope

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-struggles-to-overcome-resistance-levels/" data-wpel-link="internal">Ethereum Struggles to Overcome Resistance Levels</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/duzenleyici-baskisi-ve-guncelleme-derken-bu-altcoin-para-muslugu-kisildi" data-wpel-link="internal">Cryptocurrency</a></strong> market prices continue to fluctuate. <a href="https://coin-turk.com/en-buyuk-altcoin-ethereum-eth-tum-zamanlarin-en-yuksek-seviyesine-ulasti" data-wpel-link="internal">Ethereum</a> (<a href="https://en.coin-turk.com/ethereums-circulating-supply-drops-below-critical-threshold/" data-wpel-link="internal">ETH</a>) has recently struggled to surpass the resistance level of $3,440. However, if ETH trades below a certain level, especially if it breaks the $3,250 support, we can expect further declines.</p> 
<h2 style="text-align: justify" id="ethereum-nears-critical-support">Ethereum Nears Critical Support</h2> 
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/ethereum-experiences-a-significant-change-in-local-asset-according-to-analyst-ali-martinez/" data-wpel-link="internal">Ethereum</a></strong> is struggling to rise above the $3,370 and $3,440 levels. We see that the price is trading below the $3,380 level and the 100-hour Simple Moving Average.</p> 
<p style="text-align: justify">On the hourly chart of the ETH/USD pair, a significant bullish trend line has been breached below the $3,300 support. Therefore, if there is a close below the $3,250 support zone, the possibility of increased losses should not be ignored.</p> 
<h2 style="text-align: justify" id="hope-for-ethereum-price-recovery-dwindles">Hope for Ethereum Price Recovery Dwindles</h2> 
<p style="text-align: justify">Recently, there was a new wave of recovery in Ethereum’s price, similar to <a href="https://coin-turk.com/24-kritik-olay-yasanacak-kripto-paralarda-bu-hafta-dananin-kuyrugu-kopuyor" data-wpel-link="internal">Bitcoin</a>, above the $3,300 and $3,320 levels. However, even though ETH surpassed the $3,400 level, bears are actively present near the $3,440 region.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-337686 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/eth-eth-coin-turk-com-.png" alt="" width="1861" height="781"></p> 
<p style="text-align: justify">A new high level formed around $3,443, but there was a break below a major bullish trend line with support at $3,300 on the hourly chart of ETH/USD. This reduced the price’s gains and led to a retest of the $3,250 support. The price retreated to as low as $3,253 and is currently trying to consolidate its losses.</p> 
<h2 style="text-align: justify" id="critical-levels">Critical Levels</h2> 
<p style="text-align: justify">The immediate resistance level is around $3,320. The first major resistance is near the $3,350 level. The next critical resistance level is around $3,440, and if ETH price moves above this level, it could test the $3,500 level.</p> 
<p style="text-align: justify">Currently, ETH is finding support near the $3,250 level as it moves downward. However, falling below this level could lead to further losses.</p> 
<p style="text-align: justify">The first major support is near the $3,220 area. However, a move towards the more critical point of $3,200 could put Ethereum in an even more challenging position. A clear drop below the $3,200 support could pull the price down to $3,120 and potentially lead to further losses. At this point, the price could fall to the $3,040 level.</p> 
<h2 style="text-align: justify" id="technical-indicators-point-to-a-downtrend-for-eth">Technical Indicators Point to a Downtrend for ETH</h2> 
<p style="text-align: justify">Technical indicators also seem to support this possible downtrend. Specifically, the hourly MACD for ETH/USD is gaining momentum in the bearish zone. Similarly, the hourly RSI is also trending below the 50 level, indicating increased selling pressure.</p> 
<p style="text-align: justify">However, it’s too early to lose all hope. The main resistance level is still set at $3,350. If Ethereum can overcome this resistance, it could paint a more positive picture and potentially restart an upward trend.</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-struggles-to-overcome-resistance-levels/" data-wpel-link="internal">Ethereum Struggles to Overcome Resistance Levels</a></h5>

Ethereum Struggles to Overcome Resistance Levels

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