Ethereum Faces an Uphill Battle: Can It Overcome the Challenges?

2024-5-31 04:38

Ethereum price extended its decline and tested the $3,720 support. ETH is now consolidating and facing many hurdles near the $3,800 level.

Ethereum extended its decline and tested the $3,720 zone. The price is trading below $3,820 and the 100-hourly Simple Moving Average. There is a new bearish trend line forming with resistance at $3,810 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 Holds Support

Ethereum price remained in a short-term bearish zone and declined below the $3,800 support zone, like Bitcoin. ETH even traded below the 50% Fib retracement level of the upward move from the $3,631 swing low to the $3,975 high.

However, the bulls were active near the $3,720 support zone. They protected the 76.4% Fib retracement level of the upward move from the $3,631 swing low to the $3,975 high.

Ethereum price is now trading below $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 new bearish trend line forming with resistance at $3,810 on the hourly chart of ETH/USD.

The first major resistance is near the $3,850 level. An upside break above the $3,850 resistance might send the price higher. The next key resistance sits at $3,890, above which the price might gain traction and rise toward the $3,950 level.

If the bulls push Ether above the $3,950 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.

The next major support is near the $3,640 zone. A clear move below the $3,640 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 losing 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

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3147.81 (+0.77%)
Объем 24H $35.677b
Изменеия 24h: 1.57 %, 7d: -1.07 %
Cегодня L: $3039.69 - H: $3148.32
Капитализация $379.083b Rank 2
Цена в час новости $ 3769.24 (-16.49%)

ethereum decline tested 720 price extended average

Источник: newsbtc.com

ethereum decline → Результатов: 126


Фото:

Ethereum Price may Drop Below $140 as ProgPoW Implementation Rumors Swell

As the top markets try to claw their way out of the hole again, it remains to be seen how successful these attempts will be in the end. For Ethereum, there is a lot of pressure to contend with. Part of the reason is Bitcoin’s decline, but there is also some concern over the implementation […] The post Ethereum Price may Drop Below $140 as ProgPoW Implementation Rumors Swell appeared first on NullTX.

2019-3-17 12:12


Bitcoin Price Analysis: BTC bulls Raved, $4,500 Defining

Latest Bitcoin News By dropping 8,540.4082 BTC, the number of Bitcoin open short positions at BitFinex is down 26 percent at the time of press in the last two days. This decline hint of capital flight and as a major player in the space, a downtime that would see the exchange move their servers from […] The post Bitcoin Price Analysis: BTC bulls Raved, $4,500 Defining appeared first on Ethereum World News.

2019-1-8 15:30


Bitcoin Price Analysis: BTC bulls Raved, BitFinex Server Migration in Progress

Latest Bitcoin News By dropping 8,540.4082 BTC, the number of Bitcoin open short positions at BitFinex is down 26 percent at the time of press in the last two days. This decline hint of capital flight and as a major player in the space, a downtime that would see the exchange move their servers from […] The post Bitcoin Price Analysis: BTC bulls Raved, BitFinex Server Migration in Progress appeared first on Ethereum World News.

2019-1-7 15:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum Holders Endure Unrealized Losses – Is ETH Undervalued?

Ethereum (ETH) has been underperforming in this cycle, trailing far behind Bitcoin’s impressive rally to new all-time highs. While Bitcoin captures headlines with its continued surge, ETH struggles to reclaim its yearly highs, leaving many investors questioning its next move.

Is Ethereum Undervalued? Investors Hold Firm While Price Targets Rise

Ethereum has experienced a noticeable surge in its price recently, trading above the psychological $3,000 price mark, which has reignited interest in the crypto market. According to on-chain analysis, retail investors appear to be adopting a “hold” strategy, resisting the urge to sell despite the increase in ETH’s value.