Ethereum Dips Further: Will the Slide Stop or Is ETH on a Rollercoaster?

2024-5-30 04:28

Ethereum price extended its downside correction below the $3,800 support. ETH is now approaching the $3,720 support and might aim for a fresh increase.

Ethereum extended its decline after it failed to stay above the $3,880 zone. The price is trading below $3,880 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it breaks the $3,720 support. Ethereum Price Dips Further

Ethereum price started a downside correction below the $3,880 support zone, like Bitcoin. ETH dipped below the $3,850 and $3,800 support levels to move into a short-term bearish zone.

There was also a clear move below the 50% Fib retracement level of the upward wave from the $3,630 swing low to the $3,974 high. Finally, the price dipped below the $3,780 level. The bears are now aiming for a move toward the $3,720 support.

Ethereum price is now trading above $3,800 and the 100-hourly Simple Moving Average. If there is a fresh increase, ETH might face resistance near the $3,800 level. There is also a key bearish trend line forming with resistance at $3,800 on the hourly chart of ETH/USD.

The first major resistance is near the $3,840 level. An upside break above the $3,840 resistance might send the price higher. The next key resistance sits at $3,900, above which the price might gain traction and rise toward the $3,940 level. If there is a clear move above the $3,940 level, the price might rise and test the $4,000 resistance. Any more gains could send Ether toward the $4,080 resistance zone.

More Losses In ETH?

If Ethereum fails to clear the $3,800 resistance, it could continue to move down. Initial support on the downside is near the $3,720 level or the 76.4% Fib retracement level of the upward wave from the $3,630 swing low to the $3,974 high.

The next major support is near the $3,625 zone. A clear move below the $3,625 support might push the price toward $3,550. Any more losses might send the price toward the $3,500 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now below the 50 zone.

Major Support Level – $3,720

Major Resistance Level – $3,800

origin »

Ethereum (ETH) на Currencies.ru

$ 3390.93 (+0.14%)
Объем 24H $25.63b
Изменеия 24h: -0.65 %, 7d: -0.39 %
Cегодня L: $3314.94 - H: $3396.54
Капитализация $408.515b Rank 2
Цена в час новости $ 3781.66 (-10.33%)

ethereum eth extended support increase might aim

Источник: newsbtc.com

ethereum eth → Результатов: 126


Фото:

Ethereum Spot ETFs Attract Record $295 Million Daily Inflows – Is ETH Set For New Highs?

Ethereum (ETH) appears to be finally waking from its slumber, surging nearly 37% in the past week following Bitcoin’s (BTC) all-time-high (ATH) rally. Spot Ethereum ETFs Record Daily Inflows Ethereum, the second-largest cryptocurrency with a market cap of approximately $404 billion, is now gaining ground on BTC, with the platform’s ETH token jumping more than 35% over the past week.

2024-11-13 12:30


Bitwise CIO Calls Ethereum The ‘Microsoft Of Blockchains’, Can ETH Make A Comeback?

Bitwise Chief Investment Officer Matt Hougan dubbed Ethereum (ETH) the ‘Microsoft of blockchains’, adding that none of the smart contract platform’s challenges are existential. Ethereum Has Challenges, But None Of Them Are Existential In a recent memo titled ‘A Contrarian Bet on Ethereum’, Hougan highlighted the tumbling ETH/BTC trading pair, indicating the weakening Ethereum price versus Bitcoin (BTC).

2024-9-19 07:30


Киты отправили Ethereum на $73 млн на биржи

На фоне общего спада криптовалютного рынка крупные инвесторы активно избавляются от Ethereum (ETH). Однако сторонники второй по капитализации криптовалюты сохраняют оптимизм. В то время как криптокиты распродают Ethereum, спотовые биржевые фонды (ETF) на ETH фиксируют оттоки.

2024-8-27 13:09


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Market Turns Optimistic: Funding Rates Hint At Potential $4K Comeback

Amid the broader decline in the global crypto market, Ethereum emerged as one of the major cryptocurrencies that has been impacted significantly. Despite already being underperformed in the recent bull run, Ethereum has now experienced a notable correction, dropping to as low as below the $3,500 price level in recent weeks.