Ethereum

Resistance

Higher

Ethereum price failed to continue higher above the $3,500 resistance zone. ETH corrected gains and is now trading in a range above the $3,400 level. 
<ul> 
 <li>Ethereum is consolidating below the $3,500 resistance zone.</li> 
 <li>The price is trading below $3,480 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key declining channel forming with resistance at $3,470 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could start a fresh increase if there is a clear move above the $3,500 resistance zone.</li> 
</ul> 
<h2 id="ethereum-price-stuck-in-a-range-below-3-550">Ethereum Price Stuck In A Range Below $3,550</h2> 
Ethereum price failed to extend gains above the $3,550 resistance zone. ETH corrected gains and traded below the $3,500 level like <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-dips-65500/" target="_blank" rel="noopener ">Bitcoin</a>. The bears were able to push the price below the $3,450 level. 
A low is formed near $3,390 and the price is rising. There was a move above the $3,420 level. The price climbed above the 50% Fib retracement level of the downward move from the $3,540 swing high to the $3,390 low. However, the bears are active near the $3,500 level. 
They failed to clear the 61.8% Fib retracement level of the downward move from the $3,540 swing high to the $3,390 low. There is also a key declining channel forming with resistance at $3,470 on the hourly chart of ETH/USD. 
Ethereum is now trading below $3,500 and the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-battles-3550/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. On the upside, the price is facing resistance near the $3,480 level. The first major resistance is near the $3,500 level. The next major hurdle is near the $3,520 level. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_37fb68.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-631244 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_37fb68.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_37fb68.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_37fb68.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_37fb68.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_37fb68.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_37fb68.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_37fb68.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_37fb68.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
A close above the $3,520 level might send Ether toward the $3,550 resistance. The next key resistance is near $3,650. An upside break above the $3,650 resistance might send the price higher toward the $3,800 resistance zone. 
<h2 id="another-decline-in-eth">Another Decline In ETH?</h2> 
If Ethereum fails to clear the $3,500 resistance, it could start another decline. Initial support on the downside is near $3,420. The first major support sits near the $3,400 zone. 
A clear move below the $3,400 support might push the price toward $3,340. Any more losses might send the price toward the $3,320 support level in the near term. The next key support sits at $3,250. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 zone. 
Major Support Level – $3,400 
Major Resistance Level – $3,500

Ethereum In A Holding Pattern: Will It Break Out To Higher Levels?

Inhaltsverzeichnis

NewsBTC

Weitere Artikel, die am 24. Juli 2024 veröffentlicht wurden

Shiba Inu (SHIB) Might Be on Verge of Big Move, Key Level to Watch

Polymarket partners with MoonPay on bank, credit card funding

Kamala Harris to skip Bitcoin Conference featuring Trump and Kennedy

BitGo Integrates Stacks Blockchain, Paving the Way for Bitcoin-Native DeFi Expansion

Hemera Trading Launches Revolutionary AI Smart Trading & AI Crypto Analysis System

Stocks to Watch Today: General Motors, Tesla, and AMC

Abonniere unseren kostenlosen Newsletter und erhalte tägliche Krypto-Updates!