ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\nThe first major resistance is near the $3,450 level. The next major hurdle is near the $3,500 level. A close above the $3,500 level might send Ether toward the $3,550 resistance. The next key resistance is near $3,620. An upside break above the $3,620 resistance might send the price higher toward the $3,750 resistance zone in the coming days.<\/p>\n
More Downsides In ETH?<\/h2>\n If Ethereum fails to clear the $3,440 resistance, it could continue to move down. Initial support on the downside is near $3,400 and the 100-hourly Simple Moving Average. The first major support sits near the $3,350 zone.<\/p>\n
A clear move below the $3,350 support might push the price toward $3,280 and the 50% Fib retracement level of the upward move from the $3,048 swing low to the $3,516 high. Any more losses might send the price toward the $3,200 support level in the near term. The next key support sits at $3,150.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\nHourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\nMajor Support Level \u2013 $3,350<\/p>\n
Major Resistance Level \u2013 $3,440<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price started a downside correction from the $3,500 resistance zone. ETH declined below $3,440 and might struggle to stay above $3,380. Ethereum is correcting gains from the $3,500 zone. The price is trading above $3,400 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $3,420 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to decline further if there is a close below the $3,350 support. Ethereum Price Retreats From $3,500 Ethereum price started a downside correction from the $3,500 resistance zone. ETH declined below the $3,450 and $3,440 support levels to enter a short-term bearish zone, like Bitcoin. There was a break below a connecting bullish trend line with support at $3,420 on the hourly chart of ETH\/USD. The pair even spiked below $3,400 and the 23.6% Fib retracement level of the upward move from the $3,048 swing low to the $3,516 high. Ethereum is now trading above $3,380 and the 100-hourly Simple Moving Average. If the price stays above the 100-hourly Simple Moving Average, it could attempt a fresh increase. On the upside, the price is facing resistance near the $3,440 level. The first major resistance is near the $3,450 level. The next major hurdle is near the $3,500 level. A close above the $3,500 level might send Ether toward the $3,550 resistance. The next key resistance is near $3,620. An upside break above the $3,620 resistance might send the price higher toward the $3,750 resistance zone in the coming days. More Downsides In ETH? If Ethereum fails to clear the $3,440 resistance, it could continue to move down. Initial support on the downside is near $3,400 and the 100-hourly Simple Moving Average. The first major support sits near the $3,350 zone. A clear move below the $3,350 support might push the price toward $3,280 and the 50% Fib retracement level of the upward move from the $3,048 swing low to the $3,516 high. Any more losses might send the price toward the $3,200 support level in the near term. The next key support sits at $3,150. 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 zone. Major Support Level \u2013 $3,350 Major Resistance Level \u2013 $3,440<\/p>\n","protected":false},"author":67,"featured_media":630508,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83362],"tags":[65296,1946,8686,78803],"class_list":["post-630506","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n
Ethereum Price Pulls Back: ETH Gains Under Pressure<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n