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Ethereum Topside Bias is weak if it struggles below $ 3K


Ethereum has settled below the 3,000 support zone against the US dollar. The ETH price may fall again if there is no clear break above the $ 3,000 resistance zone.

  • Ethereum has started a new fall below the $ 3,100 and 3,000 support levels.
  • Prices are now trading below $ 3,000 and 100-hour simple running.
  • ETH / USD (data feed via Kraken) is forming a big bearish trend line with resistance around $ 3,000 per hour on the chart.
  • The pair could start falling again if there is no clear break above the $ 3,000 resistance zone.

Ethereum price risk remains

Ethereum started another fall from the অঞ্চ 3,100 resistance zone. ETH has many similar support zones around $ 3,000 and a simple 100-hour moving average, trading similar to Bitcoin.

Even in a bearish zone the price broke the $ 2,800 support level to move further. A low is formed around $ 2,651 and the price is now correcting the loss. There was a break above the resistance levels of $ 2,800 and 2,850.

The price dropped from a recent drop of $ 10,105 to a high of 65 2,6551, returning above the 2.6%% fib retracement level. Immediate uptrend is an immediate resistance near the 2,880 level. ETH / USD also has a major bearish trend line with resistance near $ 3,000 on the hourly chart.

Source: ETHUSD on TradingView.com

The trend line is close to the 50% Fib retracement level which dropped from the recent drop of $ 3,105 to $ 2,651. A decent recovery above $ 3,000 resistance could begin. The next major resistance could be near the $ 3,105 level. A clear break and close above the $ 3,105 level could start a steady rise. The next major resistance sits near the $ 3,135 and 100 hour SMA.

Further damage to ETH?

If ethereum fails to correct above the মাত্র 2,880 and 3,000 resistance levels, it could start another fall. An initial support on the downside is close to the 2,800 level.

The next major support appears to be formed near the 2,650 level. A negative break below the 2,650 support zone could move the price to the 2,550 zone. The next major support is near the $ 2,500 level, below which the price of ether could fall towards the 2,420 support zone.

Technical indicators

MACD per hourThe MACD for ETH / USD is slowly losing momentum in the bullish zone.

RSI per hourETH / USD RSI is still below 50 level.

Main support level – $ 2,650

Main resistance level – $ 3,000



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