Ethereum

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-grapples-with-crucial-resistance-thresholds">Ethereum Grapples with Crucial Resistance Thresholds</a><br></p>
<p style="text-align: justify"> The <a href="https://en.bitcoinhaber.net/ethereums-potential-reversal-insights-from-a-market-analyst">Ethereum</a> market has reached a pivotal moment with prices consolidating above a $3,450 support level. The pressing question for investors is whether Ethereum can break through key resistance levels that stand in the way of a potential price rally. </p> 
<h2 id="key-hurdles-ahead-for-ethereum-s-price">Key Hurdles Ahead for Ethereum’s Price</h2> 
<p style="text-align: justify"> Currently valued above $3,500, Ethereum’s path forward is hindered by resistance zones lying between $3,560 and $3,620. On the 4-hour chart, a newly formed bearish trend line at the $3,550 mark poses a significant challenge for the <a href="https://en.bitcoinhaber.net/cryptocurrency-sector-faces-major-changes-icelands-energy-shift-venture-capital-influx-and-ethereums-staking-proposal">cryptocurrency</a>. Despite attempts to break past this barrier, Ethereum’s price has faced limitations, similar to <a href="https://en.bitcoinhaber.net/bitcoin-gears-up-for-70000-surge-as-investment-flows-soar">Bitcoin</a>‘s recent performance. Although it briefly reached $3,614, the cryptocurrency subsequently retreated to around $3,476. </p> 
<h2 id="technical-analysis-of-ethereum-s-trajectory">Technical Analysis of Ethereum’s Trajectory</h2> 
<p style="text-align: justify"> As it stands, Ethereum hovers over the $3,500 mark. However, investors should pay attention to resistance levels, especially the one at $3,550 and the 50% Fib retracement level of the last downtrend. To gain momentum, Ethereum must first clear the $3,620 resistance, potentially testing higher levels at $3,650 and even $3,720. The crucial milestone to achieve would be surpassing $3,750, potentially triggering a move towards $3,820 and the $4,000 threshold. </p> 
<h2 id="downward-risks-if-resistance-proves-stubborn">Downward Risks If Resistance Proves Stubborn</h2> 
<p style="text-align: justify"> Failure to breach the $3,550 resistance could send Ethereum into a downward spiral. In such a scenario, the first support level to watch is near $3,500, with a steeper decline threatening a fall towards the $3,475 zone. Should Ethereum slide below this level, it risks hitting a critical support at $3,420 and, if breached, possibly falling as far as the $3,320 level, with further losses potentially leading to a $3,240 support test. </p> 
<h2 id="technical-indicators-offer-mixed-signals">Technical Indicators Offer Mixed Signals</h2> 
<p style="text-align: justify"> Technical indicators present a mixed picture; the 4-hour MACD for ETH/USD shows waning bearish momentum, whereas the 4-hour RSI stands above 50, suggesting some buying activity is still ongoing. The pivotal support and resistance levels to monitor are $3,475 and $3,550, respectively. </p> 
<h2 id="points-to-take-into-account">Points to Take into Account</h2> 
<ul> 
 <li>Ethereum’s immediate resistance lies within the $3,560 to $3,620 range.</li> 
 <li>Overcoming the $3,750 level is critical for a potential rally towards higher price zones.</li> 
 <li>A failure to break current resistance levels may lead to a retracement towards the $3,420 or even $3,320 levels.</li> 
 <li>Technical indicators reveal a complex market sentiment, with bearish signs contrasting with moderate buying pressure.</li> 
</ul> 
<p style="text-align: justify"> In summary, Ethereum investors should tread carefully as the cryptocurrency approaches decisive resistance levels that could either catalyze a new uptrend or lead to further correction.</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-grapples-with-crucial-resistance-thresholds">Ethereum Grapples with Crucial Resistance Thresholds</a></h5>

Ethereum Grapples with Crucial Resistance Thresholds

Tabla de contenidos

BH NEWS

Otros artículos publicados el 12 abr 2024

Bitget Launches Pre-market with Merlin Chain (MERL) as the First Supported Asset

OpenAI Rolls Out Major GPT-4 Turbo Upgrade

Shiba Inu (SHIB) Poised for 150% Price Surge: Here’s When

Hong Kong nears approval for Bitcoin, Ether ETFs: Report

Bitcoin Miners, Whales To Sell BTC In Billions Post Halving: Report

Cathie Wood’s Ark Invest Declares Its Holdings In ChatGPT’s OpenAI

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!