Ethereum

Resistance

Ethereum price is facing many hurdles near $3,200. ETH could gain bearish momentum if the price stays below $3,200 and $3,280. 
<ul> 
 <li>Ethereum is struggling to recover above the $3,200 resistance zone.</li> 
 <li>The price is trading below $3,200 and the 100-hourly Simple Moving Average.</li> 
 <li>There was a break below a connecting bullish trend line with support at $3,100 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could start another decline if there is a close below the $3,000 support zone.</li> 
</ul> 
<h2 id="ethereum-price-faces-hurdles">Ethereum Price Faces Hurdles</h2> 
Ethereum price started a <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-reclaims-3k/" target="_blank" rel="noopener ">recovery wave</a> above the $3,000 resistance zone. ETH was able to climb above the $3,120 level. However, the bears were active near the $3,280 resistance zone. 
A high was formed at $3,278 and the price started a fresh decline, like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-restarts-decline-60k/" target="_blank" rel="noopener ">Bitcoin</a>. There was a move below the $3,200 support zone. The price declined below the 23.6% Fib retracement level of the recovery wave from the $2,537 swing low to the $3,278 high. 
There was also a break below a connecting bullish trend line with support at $3,100 on the hourly chart of ETH/USD. Ethereum is now trading below $3,200 and the 100-hourly Simple Moving Average. 
Immediate resistance is near the $3,200 level. The first major resistance is near the $3,250 level. The next key resistance sits at $3,280, above which the price might test the $3,350 level. The key hurdle could be $3,500, above which Ether could gain bullish momentum. 
<a href="https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum_f05cc7.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="alignnone size-full wp-image-603417" src="https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum_f05cc7.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum_f05cc7.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum_f05cc7.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum_f05cc7.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum_f05cc7.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum_f05cc7.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum_f05cc7.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/Ethereum_f05cc7.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
Source: <a href="https://www.tradingview.com/symbols/ETHUSD/" target="_blank" rel="noopener nofollow">ETHUSD on TradingView.com</a> 
In the stated case, the price could rise toward the $3,620 zone. If there is a move above the $3,620 resistance, Ethereum could even rise toward the $3,750 resistance. 
<h2 id="more-losses-in-eth">More Losses In ETH?</h2> 
If Ethereum fails to clear the $3,200 resistance, it could continue to move down. Initial support on the downside is near the $3,000 level. 
The first major support is near the $2,900 zone or the 50% Fib retracement level of the recovery wave from the $2,537 swing low to the $3,278 high. The next key support could be the $2,820 zone. A clear move below the $2,820 support might send the price toward $2,650. Any more losses might send the price toward the $2,550 level. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. 
Hourly RSI – The RSI for ETH/USD is now below the 50 level. 
Major Support Level – $3,000 
Major Resistance Level – $3,200

Ethereum Price Recovery In Jeopardy? Decoding Key Hurdles To Fresh Increase

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