{"id":480287,"date":"2022-01-04T06:18:16","date_gmt":"2022-01-04T06:18:16","guid":{"rendered":"https:\/\/uniquehot.com\/?p=480287"},"modified":"2024-06-11T14:10:21","modified_gmt":"2024-06-11T14:10:21","slug":"ethereum-plunges-3680","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-plunges-3680\/","title":{"rendered":"TA: Ethereum Plunges After Rejection: Technicals Remain Bullish"},"content":{"rendered":"
Ethereum failed to clear the $3,850 resistance and resumed decline against the US Dollar. ETH price is holding the $3,680 support, but there is a risk of more downsides.<\/em><\/p>\n Ethereum struggled to gain strength<\/a> above the $3,850 level. As a result, ETH reacted to the downside and traded below the $3,800 level.<\/p>\n There was a break below a major bullish trend line with support near $3,800 on the hourly chart of ETH\/USD. The pair declined below the $3,750 support level and the 100 hourly simple moving average. Ether even spiked below the $3,700 level, but the bulls were active near the $3,680 level.<\/p>\n A low was formed near $3,680 and the price is now correcting higher. There was a break above the $3,720 level. The price even spiked above the 50% Fib retracement level of the downward move from the $3,850 swing high to $3,681 low.<\/p>\n It seems like the bears are active near the $3,750 level and the 100 hourly simple moving average<\/a>. The next major resistance is near the $3,785 level. It is near the 61.8% Fib retracement level of the downward move from the $3,850 swing high to $3,681 low.<\/p>\n <\/a><\/p>\n A clear upside break above the $3,785 level could pump the price towards $3,850. Any more gains could send the price towards the $4,000 level. The next main resistance is near the $4,200 level.<\/p>\n If ethereum fails to start a fresh increase above the $3,750 level, it could continue to move down. An initial support on the downside is near the $3,700 level.<\/p>\n The first key support is now forming near the $3,680 level. A downside break below the $3,680 level might spark a sharp decline in the near term. The next major support is near the $3,620 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now losing 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 $3,680<\/p>\n Major Resistance Level \u2013 $3,750<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum failed to clear the $3,850 resistance and resumed decline against the US Dollar. ETH price is holding the $3,680 support, but there is a risk of more downsides. Ethereum started another decline from the $3,850 resistance zone. The price is trading below $3,750 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $3,800 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must clear the $3,750 zone and the 100 hourly SMA to turn green in the near term Ethereum Price Starts Fresh Decline Ethereum struggled to gain strength above the $3,850 level. As a result, ETH reacted to the downside and traded below the $3,800 level. There was a break below a major bullish trend line with support near $3,800 on the hourly chart of ETH\/USD. The pair declined below the $3,750 support level and the 100 hourly simple moving average. Ether even spiked below the $3,700 level, but the bulls were active near the $3,680 level. A low was formed near $3,680 and the price is now correcting higher. There was a break above the $3,720 level. The price even spiked above the 50% Fib retracement level of the downward move from the $3,850 swing high to $3,681 low. It seems like the bears are active near the $3,750 level and the 100 hourly simple moving average. The next major resistance is near the $3,785 level. It is near the 61.8% Fib retracement level of the downward move from the $3,850 swing high to $3,681 low. Source: ETHUSD on TradingView.com A clear upside break above the $3,785 level could pump the price towards $3,850. Any more gains could send the price towards the $4,000 level. The next main resistance is near the $4,200 level. Downside Break in ETH? If ethereum fails to start a fresh increase above the $3,750 level, it could continue to move down. An initial support on the downside is near the $3,700 level. The first key support is now forming near the $3,680 level. A downside break below the $3,680 level might spark a sharp decline in the near term. The next major support is near the $3,620 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now losing pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is below the 50 level. Major Support Level \u2013 $3,680 Major Resistance Level \u2013 $3,750<\/p>\n","protected":false},"author":67,"featured_media":459191,"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-480287","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 Starts Fresh Decline<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Downside Break in ETH?<\/h2>\n