Ethereum failed to clear the $3,200 resistance and declined further against the US Dollar. ETH price is now at a risk of more downsides below $3,050 and $3,000.
- Ethereum settled below the $3,200 pivot level and extended its decline.
- The price is now trading well below $3,200 and the 100 hourly simple moving average.
- There is a key bearish trend line forming with resistance near $3,155 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue lower if it fails to stay above the $3,050 support zone.
Ethereum Price Slides Further
Ethereum failed to settle above the $3,200 pivot level. ETH price started a fresh decline and broke the $3,150 support zone, similar to bitcoin.
The price even broke the $3,120 support level and tested $3,060. It is now trading well below $3,200 and the 100 hourly simple moving average. Ether is now consolidating near the 23.6% Fib retracement level of the recent decline from the $3,249 swing high to $3,061 low.
On the upside, the first key resistance is near the $3,120 level. The main resistance is now forming near the $3,150 level. There is also a key bearish trend line forming with resistance near $3,155 on the hourly chart of ETH/USD.
Source: ETHUSD on TradingView.com
The trend line is close to the 50% Fib retracement level of the recent decline from the $3,249 swing high to $3,061 low. A clear break above the $3,150 resistance might open the doors for a steady increase. The next key resistance is now forming near the $3,200 level. Any more gains may possibly call for a move towards the $3,300 level.
More Losses in ETH?
If ethereum fails to continue higher above the $3,120 and $3,150 resistance levels, it could extend its decline. An immediate support on the downside is near the $3,080 level.
The next major support is now forming near the $3,060 zone. A downside break below the $3,060 support zone could accelerate losses. The main support sits near the $3,000 level, below which the bulls could struggle in the coming days. The next key supports sits near the $2,880 and $2,850 levels.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is well below the 50 level.
Major Support Level – $3,060
Major Resistance Level – $3,150
Ethereum didn’t clear the $3,200 resistance and declined additional towards the US Greenback. ETH worth is now at a danger of extra downsides beneath $3,050 and $3,000.
- Ethereum settled beneath the $3,200 pivot stage and prolonged its decline.
- The worth is now buying and selling effectively beneath $3,200 and the 100 hourly easy shifting common.
- There’s a key bearish development line forming with resistance close to $3,155 on the hourly chart of ETH/USD (information feed through Kraken).
- The pair may proceed decrease if it fails to remain above the $3,050 help zone.
Ethereum Value Slides Additional
Ethereum didn’t settle above the $3,200 pivot stage. ETH worth began a contemporary decline and broke the $3,150 help zone, much like bitcoin.
The worth even broke the $3,120 help stage and examined $3,060. It’s now buying and selling effectively beneath $3,200 and the 100 hourly easy shifting common. Ether is now consolidating close to the 23.6% Fib retracement stage of the current decline from the $3,249 swing excessive to $3,061 low.
On the upside, the primary key resistance is close to the $3,120 stage. The primary resistance is now forming close to the $3,150 stage. There may be additionally a key bearish development line forming with resistance close to $3,155 on the hourly chart of ETH/USD.
Supply: ETHUSD on TradingView.com
The development line is near the 50% Fib retracement stage of the current decline from the $3,249 swing excessive to $3,061 low. A transparent break above the $3,150 resistance would possibly open the doorways for a gentle enhance. The following key resistance is now forming close to the $3,200 stage. Any extra positive factors might presumably name for a transfer in the direction of the $3,300 stage.
Extra Losses in ETH?
If ethereum fails to proceed larger above the $3,120 and $3,150 resistance ranges, it may lengthen its decline. A direct help on the draw back is close to the $3,080 stage.
The following main help is now forming close to the $3,060 zone. A draw back break beneath the $3,060 help zone may speed up losses. The primary help sits close to the $3,000 stage, beneath which the bulls may wrestle within the coming days. The following key helps sits close to the $2,880 and $2,850 ranges.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly gaining tempo within the bearish zone.
Hourly RSI – The RSI for ETH/USD is effectively beneath the 50 stage.
Main Assist Degree – $3,060
Main Resistance Degree – $3,150
