{"id":487923,"date":"2022-04-12T05:08:57","date_gmt":"2022-04-12T05:08:57","guid":{"rendered":"https:\/\/uniquehot.com\/?p=487923"},"modified":"2024-06-11T07:21:31","modified_gmt":"2024-06-11T07:21:31","slug":"ethereum-breaks-key-support","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/cardano\/ethereum-breaks-key-support\/","title":{"rendered":"TA: Ethereum Breaks Key Support, Why Decline Isn\u2019t Over Yet"},"content":{"rendered":"
Ethereum gained bearish momentum below the $3,100 level against the US Dollar. ETH price extended decline and settled below the $3,000 support zone.<\/em><\/p>\n Ethereum remained in a bearish zone<\/a> below the $3,120 level. ETH broke the key $3,000 support zone to move further into a bearish zone.<\/p>\n The bears even pushed the price below $2,980. A low is formed near $2,951 and the price is now consolidating losses. Besides, ether price now trading below $3,050 and the 100 hourly simple moving average<\/a>. On the upside, an initial resistance is seen near the $2,990 level.<\/p>\n There is also a connecting bearish trend line forming with resistance near $2,990 on the hourly chart of ETH\/USD. The next major resistance is near the $3,035 level. It is near the 23.6% Fib retracement level of the recent decline from the $3,308 swing high to $2,951 low.<\/p>\n A close above the $3,035 level might start a decent recovery wave. The next major resistance could be near the $3,130 level. The 50% Fib retracement level of the recent decline from the $3,308 swing high to $2,951 low is also near $3,130.<\/p>\n <\/a><\/p>\n A clear move above the $3,130 resistance could increase the chances of a trend change. In the stated case, the price could climb above the $3,150 zone.<\/p>\n If ethereum fails to start a recovery wave above the $3,035 level, it could continue to move down. An initial support on the downside is near the $2,965 zone.<\/p>\n The next major support is near the $2,950 level. If there is a downside break below the $2,950 support, the price could resume its decline. In the stated case, the price could drop towards the $2,820 level or even $2,800 in the near term.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bearish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is now correcting higher towards the 40 level.<\/p>\n Major Support Level \u2013 $2,950<\/p>\n Major Resistance Level \u2013 $3,035<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum gained bearish momentum below the $3,100 level against the US Dollar. ETH price extended decline and settled below the $3,000 support zone. Ethereum started another decline and traded below the key $3,000 support. The price is now trading below $3,050 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $2,990 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could recover, but upsides might be capped near the $3,035 level. Ethereum Price Extends Decline Ethereum remained in a bearish zone below the $3,120 level. ETH broke the key $3,000 support zone to move further into a bearish zone. The bears even pushed the price below $2,980. A low is formed near $2,951 and the price is now consolidating losses. Besides, ether price now trading below $3,050 and the 100 hourly simple moving average. On the upside, an initial resistance is seen near the $2,990 level. There is also a connecting bearish trend line forming with resistance near $2,990 on the hourly chart of ETH\/USD. The next major resistance is near the $3,035 level. It is near the 23.6% Fib retracement level of the recent decline from the $3,308 swing high to $2,951 low. A close above the $3,035 level might start a decent recovery wave. The next major resistance could be near the $3,130 level. The 50% Fib retracement level of the recent decline from the $3,308 swing high to $2,951 low is also near $3,130. Source: ETHUSD on TradingView.com A clear move above the $3,130 resistance could increase the chances of a trend change. In the stated case, the price could climb above the $3,150 zone. More Losses in ETH? If ethereum fails to start a recovery wave above the $3,035 level, it could continue to move down. An initial support on the downside is near the $2,965 zone. The next major support is near the $2,950 level. If there is a downside break below the $2,950 support, the price could resume its decline. In the stated case, the price could drop towards the $2,820 level or even $2,800 in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly losing pace in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now correcting higher towards the 40 level. Major Support Level \u2013 $2,950 Major Resistance Level \u2013 $3,035<\/p>\n","protected":false},"author":67,"featured_media":476803,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16896],"tags":[1946,8686,78803],"class_list":["post-487923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cardano","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Extends Decline<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n