Ethereum

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-struggles-to-recover-amid-market-fluctuations/" data-wpel-link="internal">Ethereum Struggles to Recover Amid Market Fluctuations</a><br></p>
<p style="text-align: justify"><strong>Israel-Iran tensions</strong> continue as <a href="https://en.coin-turk.com/secs-notable-move-on-bitcoin-etfs-raises-questions/" data-wpel-link="internal">Ethereum</a>‘s price on <a href="https://en.coin-turk.com/binance-announces-support-for-bitcoin-cash-network-upgrade/" data-wpel-link="internal">Binance</a> dropped to $2865 overnight, now challenging the $3000 resistance level. Ethereum’s price is still consolidating around $3000. However, if bulls overcome the $3100 resistance, <a href="https://en.coin-turk.com/ethereum-transaction-costs-soar-with-new-token-standard/" data-wpel-link="internal">ETH</a> could enter a stable rise.</p> 
<h2 style="text-align: justify" id="altcoin-ethereum-price-struggles-for-recovery">Altcoin Ethereum Price Struggles for Recovery</h2> 
<p style="text-align: justify">The cryptocurrency Ethereum is still in a recovery effort, but the price remains below the $3000 level. In the hourly chart for the ETH/USD pair, there is a significant downtrend line formed at the $3070 resistance. A close below the $2850 support zone could signal further price declines.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-342010 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ethereum-eth-coin-turk-com-1-6.png" alt="" width="1823" height="799"></p> 
<p style="text-align: justify">Amid the Israel-Iran tensions, there was a moment when the price fell below the $2900 support, even dropping to $2865. However, the price is currently recovering its losses. The immediate resistance is around $3000, with the first major resistance at $3070, near the 100-hour Simple Moving Average.</p> 
<p style="text-align: justify">In the altcoin world, Ethereum’s next significant resistance is around $3120, which could lead to a rise towards $3200. Subsequently, the critical resistance at $3280 could initiate a move towards $3350. If the $3350 resistance is breached, Ethereum could climb up to $3550.</p> 
<h2 style="text-align: justify" id="further-losses-in-eth-could-lead-to-these-price-levels">Further Losses in ETH Could Lead to These Price Levels</h2> 
<p style="text-align: justify"><strong>Ethereum</strong> (ETH), if unable to surpass the $3000 resistance, might show another downtrend. Currently, the first downward support is near $2920. However, in a more severe drop, the first major support is close to the $2850 area.</p> 
<p style="text-align: justify">A significant move below the $2850 support level could bring the price down to $2620. Further losses from this point could soon pull the price to $2550.</p> 
<h2 style="text-align: justify" id="technical-indicators-also-point-to-a-downturn">Technical Indicators Also Point to a Downturn</h2> 
<p style="text-align: justify">Examining technical indicators, the hourly MACD is gaining momentum in the bearish zone for the ETH/USD pair. Similarly, the hourly RSI (Relative Strength Index) is currently below the 50 level.</p> 
<p style="text-align: justify">The main support level is set at $2850, while the primary resistance level is seen at $3100.</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-recover-amid-market-fluctuations/" data-wpel-link="internal">Ethereum Struggles to Recover Amid Market Fluctuations</a></h5>

Ethereum Struggles to Recover Amid Market Fluctuations

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