Etherеum

TA: Why Ethereum Must Clear $3,400 For Hopes of a Fresh Increase

Earn money with the top Binance exchange

Ethereum is facing a major resistance near $3,400 against the US Dollar. ETH price could start a fresh decline if it fails to clear the $3,400 resistance zone.

  • Ethereum extended its decline below the $3,250 and $3,200 levels.
  • The price is now trading well below $3,400 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $3,370 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could extend its decline unless there is a clear break above the $3,400 resistance.

Ethereum Price is Facing Resistance

Ethereum topped near the $3,450 level and started a fresh decline. ETH traded below the $3,220 support level and settled below the 100 hourly simple moving average.

It even broke the $3,160 support and traded as low as $3,115. Recently, there was a recovery wave above the $3,220 level, similar to bitcoin. There was a break above the $3,250 and $3,280 resistance levels. Ether climbed above the 50% Fib retracement level of the recent decline from the $3,450 swing high to $3,115 low.

However, the price is facing resistance near $3,350 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $3,370 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com

An immediate resistance on the upside is near the $3,350 level. The first major resistance is near the $3,380 and $3,400 levels. A proper move above the $3,400 could increase the chances of a steady increase. The next major resistance sits near $3,500. Any more gains could set the pace for a move towards the $3,620 level.

More Losses in ETH?

If ethereum fails to continue higher above the $3,380 and $3,400 resistance levels, it could start another downward move. An initial support on the downside is near the $3,220 level.

The next major support seems to be forming near the $3,150 level. A downside break below the $3,200 and $3,150 support levels might push the price further lower. In the stated case, the price could even decline below $3,100. The next stop for the bears might be near the $3,000 level.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly gaining pace in the bullish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 level.

Major Support Level – $3,150

Major Resistance Level – $3,400

   
Source

Показать больше

Добавить комментарий

Ваш адрес email не будет опубликован.

  • bitcoinBitcoin (BTC) $ 45,034.00 1.92%
  • ethereumEthereum (ETH) $ 3,111.42 0.91%
  • cardanoCardano (ADA) $ 2.31 1.8%
  • tetherTether (USDT) $ 1.01 0.14%
  • dogecoinDogecoin (DOGE) $ 0.222370 0.87%
  • cosmosCosmos (ATOM) $ 41.15 0.36%
  • chainlinkChainlink (LINK) $ 24.77 1.06%
  • algorandAlgorand (ALGO) $ 1.93 0.9%
  • litecoinLitecoin (LTC) $ 161.55 0.15%
  • bitcoin-cashBitcoin Cash (BCH) $ 544.88 0.41%
  • matic-networkPolygon (MATIC) $ 1.20 3.05%
  • stellarStellar (XLM) $ 0.299681 0.96%
  • tronTRON (TRX) $ 0.097464 2.46%
  • ftx-tokenFTX Token (FTT) $ 56.95 1.02%
  • vechainVeChain (VET) $ 0.100379 1.84%
  • ethereum-classicEthereum Classic (ETC) $ 50.43 1.74%
  • daiDai (DAI) $ 1.01 0.11%
  • tezosTezos (XTZ) $ 6.55 13.18%
  • theta-tokenTheta Network (THETA) $ 5.59 1.27%
  • moneroMonero (XMR) $ 252.01 1.27%
  • okbOKB (OKB) $ 16.85 1.69%
  • crypto-com-chainCrypto.com Coin (CRO) $ 0.168614 0.02%
  • eosEOS (EOS) $ 4.30 1.27%
  • hedera-hashgraphHedera Hashgraph (HBAR) $ 0.375740 1.67%
  • iotaIOTA (MIOTA) $ 1.35 3.57%
  • neoNEO (NEO) $ 43.12 0.7%
  • leo-tokenLEO Token (LEO) $ 3.02 0.52%
  • wavesWaves (WAVES) $ 26.81 7.85%
  • makerMaker (MKR) $ 2,417.71 6.03%
  • huobi-tokenHuobi Token (HT) $ 12.15 3.09%
  • havvenSynthetix Network Token (SNX) $ 11.40 3.26%
  • dashDash (DASH) $ 183.32 4.43%
  • decredDecred (DCR) $ 121.55 2.68%
  • holotokenHolo (HOT) $ 0.008695 2.87%
  • nemNEM (XEM) $ 0.160677 1.51%
  • blockstackStacks (STX) $ 1.37 0.85%
  • zcashZcash (ZEC) $ 121.33 0.5%
  • enjincoinEnjin Coin (ENJ) $ 1.44 0.66%
  • omisegoOMG Network (OMG) $ 9.50 3.35%
  • zilliqaZilliqa (ZIL) $ 0.091667 1.77%
  • iconICON (ICX) $ 1.70 1.33%
  • qtumQtum (QTUM) $ 10.65 1.19%
  • basic-attention-tokenBasic Attention Token (BAT) $ 0.691364 1.55%
  • ravencoinRavencoin (RVN) $ 0.105159 0.93%
  • bitcoin-goldBitcoin Gold (BTG) $ 55.90 2.41%
  • republic-protocolREN (REN) $ 1.03 23.96%
  • kucoin-sharesKuCoin Token (KCS) $ 10.79 0.22%
  • 0x0x (ZRX) $ 0.976967 0.24%
  • siacoinSiacoin (SC) $ 0.016073 2.28%
  • ontologyOntology (ONT) $ 0.883790 0.06%
  • gatechain-tokenGateToken (GT) $ 4.82 1.41%
  • digibyteDigiByte (DGB) $ 0.049890 1.58%
  • nanoNano (NANO) $ 4.97 3.47%
  • liskLisk (LSK) $ 3.09 0.29%
  • bitcoin-diamondBitcoin Diamond (BCD) $ 1.77 2.27%
  • statusStatus (SNT) $ 0.082145 1.53%
  • numeraireNumeraire (NMR) $ 43.05 1.53%
  • hiveHive (HIVE) $ 0.626404 2.25%
  • steemSteem (STEEM) $ 0.512018 1.21%
  • ethlendAave [OLD] (LEND) $ 3.04 0.9%
  • augurAugur (REP) $ 21.69 0.85%
  • kyber-networkKyber Network Crystal Legacy (KNCL) $ 1.54 1.51%
  • bytomBytom (BTM) $ 0.061482 2.68%
  • energiEnergi (NRG) $ 1.72 0.77%
  • hyperionHyperion (HYN) $ 0.097302 5611.75%