Ethereum

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-faces-stiff-resistance-at-3200-price-point" rel="noopener noreferrer nofollow">Ethereum Faces Stiff Resistance at $3,200 Price Point</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/ethereum-introduces-dencun-update-with-cost-cutting-promise" rel="noopener noreferrer nofollow">Ethereum</a>, a leading <a href="https://en.bitcoinhaber.net/german-financial-giant-enters-crypto-collaboration-with-bitpanda" rel="noopener noreferrer nofollow">cryptocurrency</a>, is currently encountering significant resistance at the $3,200 mark. Despite several attempts to surpass this threshold, Ethereum remains below this critical level and the 100-hour Simple Moving Average, indicating that the market bearishness persists. This resistance also introduces the possibility of a substantial decline if Ethereum fails to break through.</p>
<h2 id="ethereum-s-struggle-with-the-3-200-barrier">Ethereum’s Struggle with the $3,200 Barrier</h2>
<p style="text-align: justify">The ETH/USD trading pair illustrates a challenging landscape on the four-hour chart with a pronounced resistance at $3,120. Successive failures to overcome these hurdles could potentially trigger further negative trends, especially if the price drops below the $2,900 support zone. Recently, Ethereum’s price reached as high as approximately $3,278 but faced a rejection that pushed it back below the $3,200 level.</p>
<p style="text-align: justify">The ongoing trading conditions suggest that Ethereum might soon make a decisive move. If the $3,200 level is successfully breached, the focus will shift to the next significant resistance at $3,280. Overcoming this could pave the way for an advance towards the $3,620 mark, indicating a strong upward momentum.</p>
<h2 id="potential-downside-risks">Potential Downside Risks</h2>
<p style="text-align: justify">If Ethereum fails to maintain its position above the current support levels, the cryptocurrency might face a downward slide. The initial major support is identified around $2,900, with a further drop potentially exposing additional support levels at $2,710 and even down to $2,550.</p>
<h3 id="points-to-take-into-account">Points to take into account</h3>
<ul>
 <li>If Ethereum remains under $3,200, consider preparing for lower support levels.</li>
 <li>A successful break above $3,200 could lead to a test of higher resistance levels.</li>
 <li>Monitor technical indicators such as MACD and RSI for potential shifts in market momentum.</li>
</ul>
<p style="text-align: justify">In conclusion, Ethereum’s immediate future hinges on its ability to overcome the $3,200 resistance. Market participants should stay alert to shifts around key price levels and adjust their strategies accordingly. The current indicators suggest a cautious approach, with a focus on both potential advances and retreats depending on Ethereum’s capacity to breach or hold specific price points.</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-faces-stiff-resistance-at-3200-price-point" rel="noopener noreferrer nofollow">Ethereum Faces Stiff Resistance at $3,200 Price Point</a></h5>

Ethereum Faces Stiff Resistance at $3,200 Price Point

Table of Contents

BH NEWS

Other articles published on Apr 17, 2024

Top Altcoins To Buy As Bitcoin Dips - Expert Insights

Top five BTC miners not selling despite Bitcoin halving

FTX Europe’s license freeze extended by Cyprus SEC

YOUR AI Pushes E-Commerce Adoption of Web3 with BRC-20, AI and Shopify Partnership, Setting Itsel...

JupSOL: Solana’s Top Yielding LST by Jupiter Exchange

Fed Chair Jerome Powell Makes Crucial Statement for Crypto Market: Details

Join our free newsletter for daily crypto updates!