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

Spis treści

NewsBTC

Inne artykuły opublikowane 16 kwi 2024

Will the Selling Pressure in Bitcoin Continue? Famous Stock Exchange CEO Announced His Short and ...

Arbitrum’s Massive $107 Million Token Unlock Threatens To Send Price Below $1

Peter Schiff Questions $100,000 Bitcoin Price Predictions

Sacra Falling of Myrd: The First Ever Decentralized RPG Game Tops 2024 Ratings Launches $1,000,00...

Bitcoin Price Analysis: BTC Price May Experience a Halving Crash, Causing a Drop of Over 20%

Bitcoin Cash (BCH) Begins Correction Following 133% Price Surge – What’s Next?

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!