Ethereum

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-price-recovers-after-sharp-decline/" data-wpel-link="internal">Ethereum Price Recovers After Sharp Decline</a><br></p>
<p style="text-align: justify"><a href="https://coin-turk.com/ethereum-eth-fiyati-1-000-dolari-gecti-buradan-ethereum-almak-mantikli-mi" data-wpel-link="internal">Ethereum</a> recently experienced a significant price drop, but bulls quickly appeared around the $2,852 mark. This decline resulted in a drop of over 10%. However, <strong><a href="https://en.coin-turk.com/ethereum-price-surges-above-2830/" data-wpel-link="internal">ETH</a></strong> rapidly recovered above $3,000 and is now facing several hurdles around $3,200. So, what levels should be monitored for <a href="https://en.coin-turk.com/ethereum-investors-show-signs-of-bullish-trend-after-sec-approves-eth-etfs/" data-wpel-link="internal">Ethereum</a>‘s price from this point?</p> 
<h2 style="text-align: justify" id="ethereum-price-in-recovery-phase">Ethereum Price in Recovery Phase</h2> 
<p style="text-align: justify">Ethereum is facing a recovery wave from the support zone of $2,550. However, the price is trading below $3,250 and the 100-hour Simple Moving Average. On the ETH/USD 4-hour chart, a rising channel is forming with resistance near $3,200. Yet, if the pair stays above the support zone of $3,000, it could gain upward momentum.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-340181 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ethereum-eth-coin-turk-com-1-3.png" alt="" width="1854" height="804"></p> 
<p style="text-align: justify">The recent decline began with a major drop from the resistance level of $3,550. ETH fell below $3,000 after a retreat of over 10%. The lowest level was around $2,852, and the price is currently attempting a recovery wave similar to <a href="https://en.coin-turk.com/spot-bitcoin-etf-approval-a-new-era-for-investors/" data-wpel-link="internal">Bitcoin</a>. The price has risen above the resistance levels of $2,800 and $3,000.</p> 
<h2 style="text-align: justify" id="rising-channel-forming-in-eth">Rising Channel Forming in ETH</h2> 
<p style="text-align: justify">Ethereum is currently trading below $3,250 and the 100-hour Simple Moving Average. A rising channel with resistance near $3,200 is forming in ETH/USD. The first major resistance is near the $3,250 level. The next key resistance is at $3,300, above which the price could test the $3,360 level.</p> 
<p style="text-align: justify">The critical barrier could be at the $3,500 level, where ETH might gain bullish momentum. In such a case, the price could rise towards the $3,620 region. If there is a move above the $3,620 resistance, Ethereum could even rise towards the $3,750 resistance level.</p> 
<h2 style="text-align: justify" id="critical-levels-for-ethereum">Critical Levels for Ethereum</h2> 
<p style="text-align: justify">If Ethereum’s price fails to surpass the resistance level of $3,250, it could start a new downward trend. For now, the first support level on the downside is around $3,080. However, if a more serious decline occurs, significant support exists below the $3,000 region.</p> 
<p style="text-align: justify">Breaking this level could trigger a drop towards $2,880. Furthermore, a move below the critical support level of $2,880 could pull <strong>Ethereum</strong> down to the $2,750 level. At this point, a drop to the $2,550 level could become even more likely.</p> 
<h2 style="text-align: justify" id="what-do-technical-indicators-suggest">What Do Technical Indicators Suggest?</h2> 
<p style="text-align: justify">Looking at technical indicators, the hourly MACD for ETH/USD is losing momentum in the bearish zone. However, the hourly RSI is currently above the 50 level, indicating some buying interest.</p> 
<p style="text-align: justify">The main support level to watch for investors is $3,000. If the price falls below this level, a larger downward trend could begin. On the other hand, if the price surpasses the resistance level of $3,250, bulls could strengthen their control, and we might witness an upward price movement.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-price-recovers-after-sharp-decline/" data-wpel-link="internal">Ethereum Price Recovers After Sharp Decline</a></h5>

Ethereum Price Recovers After Sharp Decline

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