{"id":480793,"date":"2022-01-11T05:08:26","date_gmt":"2022-01-11T05:08:26","guid":{"rendered":"https:\/\/uniquehot.com\/?p=480793"},"modified":"2024-06-11T14:10:31","modified_gmt":"2024-06-11T14:10:31","slug":"ethereum-prints-bullish-pattern-3200-key","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-prints-bullish-pattern-3200-key\/","title":{"rendered":"TA: Ethereum Prints Bullish Technical Pattern, Why Close Above $3,200 Is Critical"},"content":{"rendered":"
Ethereum fell to $2,930 before correcting higher against the US Dollar. ETH price is rising and a close above $3,200 could spark a strong recovery.<\/em><\/p>\n Ethereum failed to climb above $3,200 and extended its decline<\/a>. ETH declined below the $3,050 and $3,000 support levels to move further into a bearish zone.<\/p>\n The price spiked towards $2,920 and traded as low as $2,931. Recently, there was a sharp upside correction above the $3,000 and $3,050 levels. Besides, there was a break above a major bearish trend line with resistance near $3,110 on the hourly chart of ETH\/USD.<\/p>\n Ether price settled above the 61.8% Fib retracement level of the downward move from the $3,210 swing high to $2,931 low. It is now consolidating above the $3,100 level.<\/p>\n On the upside, an immediate resistance is near the $3,145 level. It is near the 76.4% Fib retracement level of the downward move from the $3,210 swing high to $2,931 low. The next major resistance is near the $3,200 level and the 100 hourly simple moving average<\/a>.<\/p>\n <\/a><\/p>\n A clear upside break above the $3,200 level could spark a decent recovery wave. The next key resistance is near the $3,300 level. Any more gains could send the price towards the $3,420 level in the near term.<\/p>\n If ethereum fails to start a fresh increase above the $3,200 level, it could start another decline. An initial support on the downside is near the $3,060 level.<\/p>\n The first key support is now forming near the $3,000 level. A downside break below the $3,000 level might put a lot of pressure on the bulls. In the stated case, there is a risk of a new monthly low below the $2,931 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is above the 50 level.<\/p>\n Major Support Level \u2013 $3,060<\/p>\n Major Resistance Level \u2013 $3,200<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum fell to $2,930 before correcting higher against the US Dollar. ETH price is rising and a close above $3,200 could spark a strong recovery. Ethereum extended decline and broke the $3,000 support zone. The price is trading below $3,200 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $3,110 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a major recovery wave if there is a close above $3,200. Ethereum Price Eyes Steady Recovery Ethereum failed to climb above $3,200 and extended its decline. ETH declined below the $3,050 and $3,000 support levels to move further into a bearish zone. The price spiked towards $2,920 and traded as low as $2,931. Recently, there was a sharp upside correction above the $3,000 and $3,050 levels. Besides, there was a break above a major bearish trend line with resistance near $3,110 on the hourly chart of ETH\/USD. Ether price settled above the 61.8% Fib retracement level of the downward move from the $3,210 swing high to $2,931 low. It is now consolidating above the $3,100 level. On the upside, an immediate resistance is near the $3,145 level. It is near the 76.4% Fib retracement level of the downward move from the $3,210 swing high to $2,931 low. The next major resistance is near the $3,200 level and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com A clear upside break above the $3,200 level could spark a decent recovery wave. The next key resistance is near the $3,300 level. Any more gains could send the price towards the $3,420 level in the near term. Fresh Decline in ETH? If ethereum fails to start a fresh increase above the $3,200 level, it could start another decline. An initial support on the downside is near the $3,060 level. The first key support is now forming near the $3,000 level. A downside break below the $3,000 level might put a lot of pressure on the bulls. In the stated case, there is a risk of a new monthly low below the $2,931 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is above the 50 level. Major Support Level \u2013 $3,060 Major Resistance Level \u2013 $3,200<\/p>\n","protected":false},"author":67,"featured_media":464597,"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-480793","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 Eyes Steady Recovery<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Decline in ETH?<\/h2>\n