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{"id":606826,"date":"2024-05-07T04:32:52","date_gmt":"2024-05-07T04:32:52","guid":{"rendered":"https:\/\/uniquehot.com\/?p=606826"},"modified":"2024-06-11T06:58:41","modified_gmt":"2024-06-11T06:58:41","slug":"ethereum-price-recovery-3125","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ethereum\/ethereum-price-recovery-3125\/","title":{"rendered":"Ethereum Price Recovery In Jeopardy? Decoding Major Hurdles To Upside Continuation"},"content":{"rendered":"

Ethereum price extended its recovery wave above the $3,120 zone. ETH failed to surpass the $3,220 resistance and is currently trimming gains.<\/em><\/p>\n

\n
Ethereum climbed further above the $3,150 and $3,200 levels before the bears appeared.<\/li>\n
The price is trading below $3,120 and the 100-hourly Simple Moving Average.<\/li>\n
There was a break below a major bullish trend line with support at $3,120 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair must stay above the $3,020 support to start another increase toward $3,220.<\/li>\n<\/ul>\n
Ethereum Price Dips Again<\/h2>\n
Ethereum price climbed further above the $3,150 and $3,200 levels, like Bitcoin<\/a>. ETH tested the $3,220 resistance zone before the bears appeared. A high was formed at $3,217 and the price started a downside correction.<\/p>\n
There was a move below the $3,150 level. The bears pushed it below the $3,120 support. Besides, there was a break below a major bullish trend line<\/a> with support at $3,120 on the hourly chart of ETH\/USD. The pair tested the $3,025 zone.<\/p>\n
A low was formed at $3,025 and the price is now consolidating losses. Ethereum is trading below $3,120 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,070 level or the 23.6% Fib retracement level of the recent decline from the $3,217 swing high to the $3,025 low.<\/p>\n
The first major resistance is near the $3,120 level or the 50% Fib retracement level of the recent decline from the $3,217 swing high to the $3,025 low. The next key resistance sits at $3,170, above which the price might gain traction and rise toward the $3,220 level.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
If the bulls remain in action and push the price above $3,220, there could be a drift toward the $3,350 resistance. Any more gains could send Ether toward the $3,500 resistance zone.<\/p>\n
More Losses In ETH?<\/h2>\n
If Ethereum fails to clear the $3,120 resistance, it could start another decline. Initial support on the downside is near the $3,025 level. The first major support is near the $3,000 zone.<\/p>\n
The main support is near the $2,950 level. A clear move below the $2,950 support might push the price toward $2,820. Any more losses might send the price toward the $2,650 level in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $3,025<\/p>\n
Major Resistance Level \u2013 $3,120<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price extended its recovery wave above the $3,120 zone. ETH failed to surpass the $3,220 resistance and is currently trimming gains. Ethereum climbed further above the $3,150 and $3,200 levels before the bears appeared. The price is trading below $3,120 and the 100-hourly Simple Moving Average. There was a break below a major bullish trend line with support at $3,120 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above the $3,020 support to start another increase toward $3,220. Ethereum Price Dips Again Ethereum price climbed further above the $3,150 and $3,200 levels, like Bitcoin. ETH tested the $3,220 resistance zone before the bears appeared. A high was formed at $3,217 and the price started a downside correction. There was a move below the $3,150 level. The bears pushed it below the $3,120 support. Besides, there was a break below a major bullish trend line with support at $3,120 on the hourly chart of ETH\/USD. The pair tested the $3,025 zone. A low was formed at $3,025 and the price is now consolidating losses. Ethereum is trading below $3,120 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,070 level or the 23.6% Fib retracement level of the recent decline from the $3,217 swing high to the $3,025 low. The first major resistance is near the $3,120 level or the 50% Fib retracement level of the recent decline from the $3,217 swing high to the $3,025 low. The next key resistance sits at $3,170, above which the price might gain traction and rise toward the $3,220 level. Source: ETHUSD on TradingView.com If the bulls remain in action and push the price above $3,220, there could be a drift toward the $3,350 resistance. Any more gains could send Ether toward the $3,500 resistance zone. More Losses In ETH? If Ethereum fails to clear the $3,120 resistance, it could start another decline. Initial support on the downside is near the $3,025 level. The first major support is near the $3,000 zone. The main support is near the $2,950 level. A clear move below the $2,950 support might push the price toward $2,820. Any more losses might send the price toward the $2,650 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $3,025 Major Resistance Level \u2013 $3,120<\/p>\n","protected":false},"author":67,"featured_media":457917,"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":[65296,1946,8686,78803],"class_list":["post-606826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Recovery In Jeopardy? Decoding Major Hurdles To Upside Continuation<\/title>\n<meta name=\"description\" content=\"Ethereum price extended its recovery wave above the $3,120 zone. 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