{"id":484981,"date":"2022-03-03T05:28:36","date_gmt":"2022-03-03T05:28:36","guid":{"rendered":"https:\/\/uniquehot.com\/?p=484981"},"modified":"2024-06-11T12:49:03","modified_gmt":"2024-06-11T12:49:03","slug":"ethereum-prints-bearish-pattern-2800","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-prints-bearish-pattern-2800\/","title":{"rendered":"TA: Ethereum Prints Bearish Pattern, Why It Could Correct To $2.8K"},"content":{"rendered":"
Ethereum failed to surpass $3,050 and corrected lower against the US Dollar. ETH price is declining and might test the $2,800 support zone in the near term.<\/em><\/p>\n Ethereum was able to surpass the $3,000 resistance level<\/a>. However, ETH failed to gain momentum above the $3,040 level. A high was formed near $3,042 and the price started a downside correction.<\/p>\n There was a move below the $3,000 and $2,950 levels. Besides, there was a break below a key bullish trend line with support near $2,960 on the hourly chart of ETH\/USD. The pair traded below the 23.6% Fib retracement level of the recent wave from the $2,560 swing low to $3,042 high.<\/p>\n It is now trading above $2,880 and the 100 hourly simple moving average<\/a>. On the upside, ether price is facing resistance near the $2,930 level.<\/p>\n <\/a><\/p>\n The first major resistance is seen near the $2,950 and $2,960 levels. The main resistance is still near the $3,000 and $3,050 levels. A clear move above the $3,050 level might open the doors for a steady increase. In the stated case, the price may possibly rise towards the $3,120 level or even $3,200.<\/p>\n If ethereum fails to start a fresh increase above the $2,950 level, it could extend decline. An initial support on the downside is near the $2,880 level and the 100 hourly simple moving average.<\/p>\n The next major support is near the $2,840 level, below which the price might decline towards the $2,800 support. It is near the 50% Fib retracement level of the recent wave from the $2,560 swing low to $3,042 high. Any more losses might call for a move towards the $2,750 level in the near term.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n Major Support Level \u2013 $2,880<\/p>\n Major Resistance Level \u2013 $3,000<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum failed to surpass $3,050 and corrected lower against the US Dollar. ETH price is declining and might test the $2,800 support zone in the near term. Ethereum failed to continue higher above $3,040 and started a downside correction. The price is now trading above $2,880 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,960 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could extend decline towards the $2,800 support if it breaks the 100 hourly SMA. Ethereum Price Corrects Lower Ethereum was able to surpass the $3,000 resistance level. However, ETH failed to gain momentum above the $3,040 level. A high was formed near $3,042 and the price started a downside correction. There was a move below the $3,000 and $2,950 levels. Besides, there was a break below a key bullish trend line with support near $2,960 on the hourly chart of ETH\/USD. The pair traded below the 23.6% Fib retracement level of the recent wave from the $2,560 swing low to $3,042 high. It is now trading above $2,880 and the 100 hourly simple moving average. On the upside, ether price is facing resistance near the $2,930 level. Source: ETHUSD on TradingView.com The first major resistance is seen near the $2,950 and $2,960 levels. The main resistance is still near the $3,000 and $3,050 levels. A clear move above the $3,050 level might open the doors for a steady increase. In the stated case, the price may possibly rise towards the $3,120 level or even $3,200. More Downsides in ETH? If ethereum fails to start a fresh increase above the $2,950 level, it could extend decline. An initial support on the downside is near the $2,880 level and the 100 hourly simple moving average. The next major support is near the $2,840 level, below which the price might decline towards the $2,800 support. It is near the 50% Fib retracement level of the recent wave from the $2,560 swing low to $3,042 high. Any more losses might call for a move towards the $2,750 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,880 Major Resistance Level \u2013 $3,000<\/p>\n","protected":false},"author":67,"featured_media":464420,"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-484981","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 Corrects Lower<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Downsides in ETH?<\/h2>\n