Ethereum

Resistance

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Ethereum (ETH) price failed to clear the $3,720 resistance but declined again and is now at risk of more losses below the $3,550 support zone. 
<ul> 
 <li style="font-weight: 400">Ethereum started a fresh decline from the $3,720 resistance zone.</li> 
 <li style="font-weight: 400">The price is trading below $3,650 and the 100-hourly Simple Moving Average.</li> 
 <li style="font-weight: 400">There is a key bearish trend line forming with resistance near $3,680 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li style="font-weight: 400">The pair could extend losses if there is a close below the $3,550 support.</li> 
</ul> 
<h3 id="span-style-font-weight-400-ethereum-price-dips-again-span">Ethereum Price Dips Again</h3> 
Just as Bitcoin, Ethereum (ETH) price attempted a decent increase above the $3,650 resistance zone. ETH even spiked above $3,700 but the bears were active.&nbsp; 
A high was formed at $3,710 and the price started a fresh decline. There was a sharp decline below the $3,660 and $3,650 levels. 
A low was formed near $3,565 and the <a href="https://coinstats.app/coins/ethereum/">price</a> is now consolidating losses, like Bitcoin. Ethereum is now trading below $3,650 and the 100-hourly Simple Moving Average. 
If there is a fresh increase or a recovery wave, the price might face resistance near the 23.6% Fib retracement level of the downward move from the $3,710 swing high to the $3,565 low. The first major resistance is near the $3,640 level. 
There is also a key bearish trend line forming with resistance near $3,680 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the downward move from the $3,710 swing high to the $3,565 low. 
<figure id="attachment_74215" aria-describedby="caption-attachment-74215" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class=" wp-image-74215" src="http://bitcoinworld.co.in/wp-content/uploads/ETH-Price-Chart-19-483x300.png" alt="" width="580" height="360" srcset="https://bitcoinworld.co.in/wp-content/uploads/ETH-Price-Chart-19-483x300.png 483w, https://bitcoinworld.co.in/wp-content/uploads/ETH-Price-Chart-19.png 760w" sizes="(max-width: 580px) 100vw, 580px">
 <figcaption id="caption-attachment-74215" class="wp-caption-text">
 ETH Price Chart | Source: Coinstats
 </figcaption>
</figure> 
&nbsp; 
An upside break above the $3,680 resistance might send the price higher. The next key resistance sits at $3,720, above which the price might gain traction and rise toward the $3,750 level. 
If the bulls push Ether above the $3,750 level, the price might rise and test the $3,800 resistance. Any more gains could send Ether toward the $3,880 resistance zone. 
<h3 id="span-style-font-weight-400-more-losses-in-eth-span">More Losses In ETH?</h3> 
If Ethereum fails to clear the $3,650 resistance, it could continue to move down. Initial support on the downside is near $3,550. The next major support is near the $3,520 zone. 
The main support sits at $3,500. A clear move below the $3,500 support might push the price toward $3,320. Any more losses might send the price toward the $3,250 level in the near term. 
<h3 id="span-style-font-weight-400-technical-indicators-span">Technical Indicators</h3> 
<ul> 
 <li style="font-weight: 400">Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.</li> 
 <li style="font-weight: 400">Hourly RSI – The RSI for ETH/USD is now below the 50 zone.</li> 
 <li style="font-weight: 400">Major Support Level – $3,550</li> 
 <li style="font-weight: 400">Major Resistance Level – $3,650</li> 
</ul> 
<blockquote>
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</blockquote>

Ethereum (ETH) Price Downward Drift: Decline Resumes Again

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