{"id":480708,"date":"2022-01-10T10:18:09","date_gmt":"2022-01-10T10:18:09","guid":{"rendered":"https:\/\/uniquehot.com\/?p=480708"},"modified":"2024-06-11T14:10:30","modified_gmt":"2024-06-11T14:10:30","slug":"ta-ethereum-could-avoid-a-major-downtrend-if-it-closes-above-one-key-level","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ta-ethereum-could-avoid-a-major-downtrend-if-it-closes-above-one-key-level\/","title":{"rendered":"TA: Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level"},"content":{"rendered":"
Ethereum declined heavily below the $3,250 support against the US Dollar. ETH price tested $3,000 before it attempted an upside correction.<\/em><\/p>\n Ethereum failed to clear the $3,350 resistance level and started another major decline<\/a>. ETH declined below the $3,250 and $3,120 support levels to move further into a bearish zone.<\/p>\n The price spiked towards $3,000 and traded as low as $3,006. Recently, there was a minor upside correction above the $3,120 and $3,150 levels. Besides, there was a break above a key bearish trend line with resistance near $3,100 on the hourly chart of ETH\/USD.<\/p>\n Ether price even climbed above $3,200, but there was no upside continuation. Ether price started a fresh decline and traded below $3,200.<\/p>\n The price declined below the 23.6% Fib retracement level of the upward move from the $3,006 swing low to $3,209 high. On the upside, an immediate resistance is near the $3,200 level. The next major resistance is near the $3,250 level and the 100 hourly simple moving average<\/a>.<\/p>\n <\/a><\/p>\n The main resistance is near the $3,000 level. A clear upside break above the $3,300 level could spark a decent recovery wave. The next key resistance is near the $3,450 level.<\/p>\n If ethereum fails to start a fresh increase above the $3,250 level, it could continue to move down. An initial support on the downside is near the $3,120 level.<\/p>\n The first key support is now forming near the $3,100 level. It is near the 50% Fib retracement level of the upward move from the $3,006 swing low to $3,209 high. A downside break below the $3,100 level might lead the price towards the key $3,000 support in the near term.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now moving into the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is above the 50 level.<\/p>\n Major Support Level \u2013 $3,100<\/p>\n Major Resistance Level \u2013 $3,300<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum declined heavily below the $3,250 support against the US Dollar. ETH price tested $3,000 before it attempted an upside correction. Ethereum started another decline and traded below the $3,150 support zone. The price is trading below $3,250 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,100 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a major recovery wave if there is a clear move above $3,300. Ethereum Price Remains At Risk Ethereum failed to clear the $3,350 resistance level and started another major decline. ETH declined below the $3,250 and $3,120 support levels to move further into a bearish zone. The price spiked towards $3,000 and traded as low as $3,006. Recently, there was a minor upside correction above the $3,120 and $3,150 levels. Besides, there was a break above a key bearish trend line with resistance near $3,100 on the hourly chart of ETH\/USD. Ether price even climbed above $3,200, but there was no upside continuation. Ether price started a fresh decline and traded below $3,200. The price declined below the 23.6% Fib retracement level of the upward move from the $3,006 swing low to $3,209 high. On the upside, an immediate resistance is near the $3,200 level. The next major resistance is near the $3,250 level and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com The main resistance is near the $3,000 level. A clear upside break above the $3,300 level could spark a decent recovery wave. The next key resistance is near the $3,450 level. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,250 level, it could continue to move down. An initial support on the downside is near the $3,120 level. The first key support is now forming near the $3,100 level. It is near the 50% Fib retracement level of the upward move from the $3,006 swing low to $3,209 high. A downside break below the $3,100 level might lead the price towards the key $3,000 support in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now moving into the bearish zone. Hourly RSI – The RSI for ETH\/USD is above the 50 level. Major Support Level \u2013 $3,100 Major Resistance Level \u2013 $3,300<\/p>\n","protected":false},"author":67,"featured_media":461426,"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-480708","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 Remains At Risk<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n