Ethereum

Bitcoin

Resistance

Gains

Ethereum price struggled to climb above the $3,550 resistance and trimmed gains. ETH gained bearish momentum alongside Bitcoin and tested the $3,385 zone. 
<ul> 
 <li>Ethereum is trimming gains from the $3,550 resistance zone.</li> 
 <li>The price is trading below $3,500 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bearish trend line forming with resistance near $3,465 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could gain bearish momentum if it dips below the $3,385 and $3,350 support levels.</li> 
</ul> 
<h2 id="ethereum-price-dips-further">Ethereum Price Dips Further</h2> 
Ethereum price struggled to start a fresh increase above the $3,550 zone. ETH followed <a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-plunge-62700/" target="_blank" rel="noopener ">Bitcoin’s</a> bearish path and the price declined below the $3,500 level. The bears pushed the price below the $3,420 support zone. 
A low was formed at $3,388 and the price is now consolidating <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-retreats-3450/" target="_blank" rel="noopener ">losses</a>. It is struggling near the 23.6% Fib retracement level of the recent decline from the $3,543 swing high to the $3,388 low. There is also a key bearish trend line forming with resistance near $3,465 on the hourly chart of ETH/USD. 
Ethereum is now trading below $3,500 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3,430 level. The first major resistance is near the $3,465 level and the trend line. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_4d685d.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-626055 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_4d685d.png?resize=1024%2C461" alt="Ethereum Price " width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_4d685d.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_4d685d.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_4d685d.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_4d685d.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_4d685d.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_4d685d.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_4d685d.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The trend line is near the 50% Fib retracement level of the recent decline from the $3,543 swing high to the $3,388 low. The main resistance sits at $3,520 or $3,550. An upside break above the $3,550 resistance might send the price higher. The next key resistance sits at $3,650, above which the price might gain traction and rise toward the $3,720 level. Any more gains could send Ether toward the $3,880 resistance zone in the coming days. 
<h2 id="more-downsides-in-eth">More Downsides In ETH?</h2> 
If Ethereum fails to clear the $3,465 resistance, it could start another decline. Initial support on the downside is near $3,385. The first major support sits near the $3,350 zone. 
A clear move below the $3,350 support might push the price toward $3,220. Any more losses might send the price toward the $3,100 level in the near term. 
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 zone. 
Major Support Level – $3,350 
Major Resistance Level – $3,465

Ethereum Price Trims Gains as Bitcoin Slump Drags Crypto Market

İçindekiler

NewsBTC

24 Haz 2024 tarihli diğer yazılar

Coatue’s $150 Million Infusion Boosts Hut 8’s AI Infrastructure Journey in Bitcoin Mining

MoonBag’s Top Crypto Presale in June 2024 Delivers 88% APY, Attracting Investors Seeking Diversif...

What is Bitcoin and How Does it Work?

Bitcoin (BTC) Slips as Altcoins Surge: Experts Predict Crypto Shift Amid Looming Ethereum (ETH) E...

Bitcoin and Altcoins Started the New Week with a Sharp Fall! What is the reason for the decline?

MoonBag’s Huge Staking Benefits Capture Investors’ Hearts Over Hedera and AAVE, Best Presale in 2...

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!