Ethereum

bullish

Bitcoin

Resistance

Ethereum price struggled to clear the $3,400 zone and corrected gains. ETH is firm near $3,280 and might attempt another increase in the near term. 
<ul> 
 <li>Ethereum started a downside correction from the $3,400 resistance.</li> 
 <li>The price is trading near $3,280 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bullish trend line forming with support at $3,280 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could start another increase unless there is a close below the $3,250 support zone.</li> 
</ul> 
<h2 id="ethereum-price-holds-firm-while-bitcoin-dips">Ethereum Price Holds Firm While Bitcoin Dips</h2> 
Ethereum price extended its increase above the $3,250 zone. ETH even cleared the $3,350 resistance zone and tested the $3,400 level. Recently, there was a downside correction from the $3,395 high, but it was less compared to <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-pulls-back-70k/" target="_blank" rel="noopener ">Bitcoin</a>. 
The price declined below the $3,350 support zone. It declined below the 50% Fib retracement level of the upward move from the $3,201 swing low to the $3,395 high. 
Ethereum is now trading near $3,280 and the <a href="https://www.newsbtc.com/analysis/eth/ethereum-to-match-bitcoin-strength/" target="_blank" rel="noopener ">100-hourly Simple Moving Average</a>. There is also a key bullish trend line forming with support at $3,280 on the hourly chart of ETH/USD. The trend line is close to the 61.8% Fib retracement level of the upward move from the $3,201 swing low to the $3,395 high. 
If there is a fresh increase, the price could face resistance near the $3,350 level. The first major resistance is near the $3,400 level. The next major hurdle is near the $3,440 level. A close above the $3,440 level might send Ether toward the $3,500 resistance. <a href="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_18cd57.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-632163 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_18cd57.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_18cd57.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_18cd57.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_18cd57.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_18cd57.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_18cd57.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_18cd57.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/07/Ethereum_18cd57.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher toward the $3,720 resistance zone in the near term. 
<h2 id="more-losses-in-eth">More Losses In ETH?</h2> 
If Ethereum fails to clear the $3,350 resistance, it could continue to move down. Initial support on the downside is near $3,280. The first major support sits near the $3,250 zone and the trend line. 
A clear move below the $3,250 support might push the price toward $3,180. Any more losses might send the price toward the $3,120 support level in the near term. The next key support sits at $3,080. 
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 below the 50 zone. 
Major Support Level – $3,250 
Major Resistance Level – $3,350

Ethereum Price Stabilizes: Can ETH Gain Traction for an Upswing?

Indice dei contenuti

NewsBTC

Altri articoli pubblicati su 30 lug 2024

Ada Meme Coin PEPU Diklaim sebagai PEPE Versi Blockchain Layer-2

Solana Yearly High on the Cards After 27% July Gain and SOL Price ‘Double Bottom’

Economy: The French Real Estate Market is in Turmoil

August Bitcoin Rainbow Chart Predicts Significant Increases

LBank Unveils Its Latest Crypto Listings for the Week of 29th July 2024

Maker Price Dynamics for the Best Crypto Coin Presale of 2024

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!