{"id":478744,"date":"2021-12-13T05:18:19","date_gmt":"2021-12-13T05:18:19","guid":{"rendered":"https:\/\/uniquehot.com\/?p=478744"},"modified":"2024-06-11T07:12:51","modified_gmt":"2024-06-11T07:12:51","slug":"ethereum-plunges-to-4k","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-plunges-to-4k\/","title":{"rendered":"TA: Ethereum Plunges to $4K: Can Bulls Save the Day?"},"content":{"rendered":"
Ethereum is struggling to gain pace above the $4,050 zone against the US Dollar. ETH price is recovering, but the bulls could face resistance near $4,175.<\/em><\/p>\n Ethereum struggled to gain pace above the $4,175 and $4,200 levels. ETH started a fresh decline and traded below the $4,100 support zone.<\/p>\n There was a close below $4,100 and the 100 hourly simple moving average<\/a>. Besides, there was a break below a key bullish trend line with support near $4,080 on the hourly chart of ETH\/USD. The pair traded below the 50% Fib retracement level of the recovery wave from the $3,833 swing low to $4,176 swing high.<\/p>\n It is now showing a few bearish signs below the $4,100 level. An initial resistance on the upside is near the $4,050 level. The first major resistance<\/a> is near the $4,100 level and the 100 hourly SMA.<\/p>\n <\/a><\/p>\n The next major hurdle is near the $4,175 level. A clear break and close above the $4,175 level could stage a steady increase in the near term. In the stated case, the price might even surpass the $4,250 resistance in the near term. The next major resistance is near the $4,350 level.<\/p>\n If ethereum fails to start a fresh increase above the $4,100 level, it could extend its downside correction. An initial support on the downside is near the $4,000 level. The key support is now forming near the $3,960 level.<\/p>\n The 61.8% Fib retracement level of the recovery wave from the $3,833 swing low to $4,176 swing high is also near the $3,960 support zone. If there is a clear break below the $3,960 support, the price could extend losses. The next major breakdown support is $3,850, below which the price could decline towards $3,600.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is below the 50 level.<\/p>\n Major Support Level \u2013 $3,960<\/p>\n Major Resistance Level \u2013 $4,175<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum is struggling to gain pace above the $4,050 zone against the US Dollar. ETH price is recovering, but the bulls could face resistance near $4,175. Ethereum extended decline below the $4,050 and $4,000 support levels. The price is now trading below $4,100 and the 100 hourly simple moving average. There was a break below a connecting bullish trend line with support near $4,080 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $4,100 resistance zone and the 100 hourly SMA. Ethereum Price Struggle Continues Ethereum struggled to gain pace above the $4,175 and $4,200 levels. ETH started a fresh decline and traded below the $4,100 support zone. There was a close below $4,100 and the 100 hourly simple moving average. Besides, there was a break below a key bullish trend line with support near $4,080 on the hourly chart of ETH\/USD. The pair traded below the 50% Fib retracement level of the recovery wave from the $3,833 swing low to $4,176 swing high. It is now showing a few bearish signs below the $4,100 level. An initial resistance on the upside is near the $4,050 level. The first major resistance is near the $4,100 level and the 100 hourly SMA. Source: ETHUSD on TradingView.com The next major hurdle is near the $4,175 level. A clear break and close above the $4,175 level could stage a steady increase in the near term. In the stated case, the price might even surpass the $4,250 resistance in the near term. The next major resistance is near the $4,350 level. Dips Limited in ETH? If ethereum fails to start a fresh increase above the $4,100 level, it could extend its downside correction. An initial support on the downside is near the $4,000 level. The key support is now forming near the $3,960 level. The 61.8% Fib retracement level of the recovery wave from the $3,833 swing low to $4,176 swing high is also near the $3,960 support zone. If there is a clear break below the $3,960 support, the price could extend losses. The next major breakdown support is $3,850, below which the price could decline towards $3,600. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is below the 50 level. Major Support Level \u2013 $3,960 Major Resistance Level \u2013 $4,175<\/p>\n","protected":false},"author":67,"featured_media":459497,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-478744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Struggle Continues<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Limited in ETH?<\/h2>\n