Ethereum has started another fall below the জো 3,400 support zone against the US dollar. The ETH price must be above $ 3,150 to avoid further losses in the near term.
- Ethereum started a new fall from the resistance levels of $ 3,500 and 3,550.
- The price is now trading below the সর 3,300 and 100 hour simple moving average.
- ETH / USD (data feed via Kraken) is forming a big bearish trend line with resistance around $ 3,360 per hour on the chart.
- The pair could see steady growth as long as it stays above the $ 3,150 support zone.
Etherium Price is looking at a decent recovery
Ethereum failed to clear the original অঞ্চ 3,500 resistance zone. ETH starts a big fall below the $ 3,400 support zone and below the 100-hour simple moving average like Bitcoin.
Prices traded below the লে 3,320 and $ 3,250 support levels. Eventually, the ether rose below, 3,200, but the bulls were active near the original $ 1,150 support zone. A low is formed around $ 3,156 and the price is now consolidating losses.
An instantaneous resistance to the upward side is near the $ 3,230 level. It is close to the 23.6% Fib retracement level of the ড্র 3,456 high to the ড্র 3,156 lowest recent drop. The first major resistance is now forming near the 3,320 level (last key support).
Source: ETHUSD on TradingView.com
The 50% Fib retracement level of the recent drop from উচ্চ 3,456 high to below $ 3,156 is close to $ 3,320. Also, a major bearish trend line is forming with resistance near $ 3,360 on the ETH / USD hourly chart. A clear break and close above the $ 3,400 level could start another rise. The next major resistance sits at around 500 3,500.
Further damage to ETH?
If Ethereum fails to correct above the resistance levels of $ 3,250 and 3,320, it could start another fall. The initial support on the negative side is near the $ 3,180 level.
The next major support appears to be formed near the $ 3,150 level. A break below the $ 3,150 support zone could cause a sharp fall. The next major support is near the 3,000 level, below which the price of ether could fall towards the জো 2,880 support zone in the near term.
MACD per hour – ETH / USD’s MACD is slowly losing momentum in the bearish zone.
RSI per hour – ETH / USD RSI is now below 50 level.
Main support level – $ 3,150
Major resistance level – $ 3,320