Ethereum

Test

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-faces-critical-support-test">Ethereum Faces Critical Support Test</a><br></p>
<p style="text-align: justify">Ethereum’s recent price activity has injected volatility into the cryptocurrency <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank">market</a>, catching the eye of <a href="https://finance.coin-turk.com/" rel="nofollow noopener" target="_blank">investors</a>. Following a test of the $3,040 mark, Ethereum began a corrective phase, drawing attention to its upcoming moves. Currently, Ethereum is testing a significant support level at $2,925, which could dictate its short-term trajectory.</p> 
<h2 id="what-are-the-key-resistance-levels">What Are the Key Resistance Levels?</h2> 
<p style="text-align: justify">The recent bearish defense at $3,040 triggered a downward adjustment in Ethereum’s price. Trading below $2,960 has started to stir some market apprehension. The hourly chart for the ETH/USD pair reveals a downtrend line with resistance positioned at $2,965. This makes Ethereum’s immediate performance contingent on overcoming these resistance points.</p> 
<p style="text-align: justify">Short-term targets for Ethereum include the $2,960 resistance and a primary barrier at $3,000. Breaching these could set Ethereum on a path to $3,050, potentially aiming for the $3,150 level. Conversely, a steady decline below the $2,925 support might suggest further downward movement.</p> 
<h2 id="which-levels-could-ethereum-reach">Which Levels Could Ethereum Reach?</h2> 
<p style="text-align: justify">If Ethereum fails to surpass the $2,965 resistance, additional losses might be on the horizon. Should it continue to decline, the initial support to watch is around $2,925, followed by a critical level at $2,900. A break below these could result in Ethereum falling to $2,850, with potential declines extending to $2,740.</p> 
<h2 id="investor-considerations">Investor Considerations</h2> 
<p style="text-align: justify"> Investors may consider the following: </p> 
<ul> 
 <li>A break above $2,965 could signal a further upward trend.</li> 
 <li>A sustained fall below $2,925 might indicate additional selling pressure.</li> 
 <li>Monitoring MACD and RSI indicators could provide insights into market sentiment.</li> 
</ul> 
<p style="text-align: justify">Technical indicators currently reflect a bearish momentum. The four-hour MACD is losing its pace in the bearish zone, and the four-hour RSI stands below the 50 level, painting a less-than-optimistic picture for ETH/USD. The $2,925 support level remains pivotal; a breach could trigger further declines, whereas breaking the $2,965 resistance might restore some investor confidence.</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-critical-support-test">Ethereum Faces Critical Support Test</a></h5>

Ethereum Faces Critical Support Test

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