Ethereum

Resistance

Ethereum price extended losses below the $3,320 support. ETH tested the $3,240 support and is now eyeing a decent increase above the $3,380 resistance. 
<ul> 
 <li>Ethereum extended losses and tested the $3,240 support zone.</li> 
 <li>The price is trading below $3,400 and the 100-hourly Simple Moving Average.</li> 
 <li>There is a key bearish trend line forming with resistance near $3,440 on the hourly chart of ETH/USD (data feed via Kraken).</li> 
 <li>The pair could attempt a decent increase above the $3,380 and $3,400 resistance levels.</li> 
</ul> 
<h2 id="ethereum-price-founds-support">Ethereum Price Founds Support</h2> 
Ethereum price struggled to start a fresh increase above the $3,500 zone. ETH followed <a href="https://www.newsbtc.com/analysis/btc/bitcoin-dives-breaks-60k/" target="_blank" rel="noopener ">Bitcoin’s bearish path</a> and the price declined below the $3,350 level. The bears pushed the price below the $3,320 support zone. 
A low was formed at $3,230 and the price is now correcting losses. There was a minor upward move above the $3,300 and $3,320 levels. The price climbed above the 23.6% Fib retracement level of the recent drop from the $3,517 swing high to the $3,230 low. 
Ethereum is still trading below $3,450 and the 100-hourly Simple Moving Average. On the upside, the price might face resistance near the $3,375 level or the 50% Fib retracement level of the <a href="https://www.newsbtc.com/analysis/eth/ethereum-price-trims-3385/" target="_blank" rel="noopener ">recent drop</a> from the $3,517 swing high to the $3,230 low. 
The first major resistance is near the $3,450 level. There is also a key bearish trend line forming with resistance near $3,440 on the hourly chart of ETH/USD. <a href="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_3709b0.png?resize=1024%2C461"><img loading="lazy" decoding="async" class="wp-image-626205 size-full" src="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_3709b0.png?resize=1024%2C461" alt="Ethereum Price" width="1024" height="461" srcset="https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_3709b0.png?resize=1024%2C461?w=1835 1835w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_3709b0.png?resize=1024%2C461?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_3709b0.png?resize=1024%2C461?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_3709b0.png?resize=1024%2C461?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_3709b0.png?resize=1024%2C461?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_3709b0.png?resize=1024%2C461?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/06/Ethereum_3709b0.png?resize=1024%2C461?w=1140 1140w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"></a> 
The main resistance sits at $3,540. An upside break above the $3,540 resistance might send the price higher. The next key resistance sits at $3,620, above which the price might gain traction and rise toward the $3,650 level. Any more gains could send Ether toward the $3,720 resistance zone in the coming days. 
<h2 id="another-decline-in-eth">Another Decline In ETH?</h2> 
If Ethereum fails to clear the $3,450 resistance, it could start another decline. Initial support on the downside is near $3,325. The first major support sits near the $3,24 zone. 
A clear move below the $3,240 support might push the price toward $3,200. Any more losses might send the price toward the $3,120 level in the near term. 
Technical Indicators 
Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. 
Hourly RSI – The RSI for ETH/USD is now above the 50 zone. 
Major Support Level – $3,240 
Major Resistance Level – $3,450

Ethereum Price Bottom Signal: Is a Recovery on the Horizon?

İçindekiler

NewsBTC

25 Haz 2024 tarihli diğer yazılar

Blur Offers Professional NFT Trading Without Fees

The Hawk Tuah Price Pumps 13%, But Experts Say This PEPE Derivative Might Be The Best Meme Coin T...

Jack Mallers’ Strike Launches In UK, Will It Boost Bitcoin Adoption?

Coin98 Super Wallet’s Strategic Alliance with Mint Blockchain to Empower Global NFT Users

'Go All-In on XRP': Major Exchange Reacts to Price Crash

BNB Streak Cut Short, Investors Turn to Raboo To Recover Losses

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!