Ethereum

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<a href="https://u.today/heres-when-ethereum-etfs-are-going-to-launch" rel="noopener noreferrer nofollow">Ethereum</a> is hanging on the edge at $3,365, as this price level is actually far more important than you might think. The asset has clearly gained serious ground for a reversal after breaking above the 100 EMA, but right now, ETH is in some trouble and may reach $3,000 quite soon.
<a href="https://u.today/xrps-battle-for-05-begins-heres-why-solana-sol-cant-reach-150-ethereum-eth-on-verge-of-this-level" rel="noopener noreferrer nofollow">Ethereum</a> has historically held up at this critical support level, which is located roughly where the $3,365 level is. If Ether were to fall below this mark, it would indicate that this support is no longer there and will probably descend to $3,000. This is the next significant psychological level. The 100 EMA frequently serves as a reliable gauge of the general trend, and a break below it may trigger a large sell-off.&nbsp; <img alt="ETHUSD" data-entity-type="file" data-entity-uuid="e0d0dabf-3d7d-41f4-933e-25439f9551c1" src="https://u.today/sites/default/files/inline-images/image_957.png"><a href="https://www.tradingview.com/" rel="noopener noreferrer nofollow">Ethereum/USD Chart by TradingView</a>
The 200 EMA is the only significant support level between the 100 EMA and the 200 EMA in terms of technical support aside from the 200 EMA, which is located much further below. Ethereum may see a swift decline to the 200 EMA level, or roughly $3,000 in case of a breakdown.
Not only has <a href="https://u.today/nearly-70-million-in-ethereum-eth-sent-to-major-exchange" rel="noopener noreferrer nofollow">Ethereum</a> broken above the 100 EMA, but it has also broken below the consolidation channel it has been trading in for the last few weeks. This channel has given traders some predictability by providing a range in which ETH has moved. A break below $3,365 would mean that the market is leaving this channel to the downside, suggesting that the trend may be turning from bullish to bearish and potentially causing more losses.&nbsp;
The 100 EMA serves as a key support level, and a break below it might cause ETH to move rapidly toward $3,000 because there would be no other support level. Furthermore, a breach below this level would indicate a break out of the current consolidation channel and could indicate a reversal of the bearish trend.

3 Reasons Why $3,365 Is Critical for Ethereum (ETH)

U_Today

2024년 7월 3일에 게재된 다른 기사

Crypto Airdrops with Simple Requirements

E Money Network launches $2 MILLION RWA Grant Program to spearhead RWA ecosystem

Web3 and Intellectual Property: A Conversation with Qorpo as AneeMate Takes the Stage

Paxos Gains Full Regulatory Approval from MAS to Launch Stablecoins in Singapore

ConsenSys Vs SEC: Judge Sets Stage For Potential MetaMask Ruling By 2024 End – Details

Artificial Superintelligence Alliance Price Prediction: FET, AGIX And OCEAN Merge As Analysts Say...

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!