• Latest
  • Trending
Ethereum Bears Keep Pushing, Why ETH Could Slide Further

Ethereum Bears Keep Pushing, Why ETH Could Slide Further

October 12, 2021
Stablecoin adoption could lead to DeFi growth, says Aave founder

Stablecoin adoption could lead to DeFi growth, says Aave founder

February 6, 2023
A Step-By-Step Guide to Understanding a Crypto Whitepaper

A Step-By-Step Guide to Understanding a Crypto Whitepaper

February 6, 2023
XRP’s Most Surprising Prediction Made by Reaper Financial CEO: Details

XRP’s Most Surprising Prediction Made by Reaper Financial CEO: Details

February 6, 2023
Seven S. Korean Brokerages Plan to Start Crypto Exchanges Next Year: Report

South Korea Issues Guidelines for Regulating Security Tokens as Legislation Looms

February 6, 2023
Binance Tax launched to prepare crypto users for the tax season

Binance Tax launched to prepare crypto users for the tax season

February 6, 2023
Understanding the Hype Around Canto NFTs

Understanding the Hype Around Canto NFTs

February 6, 2023
Ripple CTO Claims XRP Buyback Program Is a Scam

Ripple CTO Claims XRP Buyback Program Is a Scam

February 6, 2023
China doles out millions in digital yuan in bid to boost adoption: Report

China doles out millions in digital yuan in bid to boost adoption: Report

February 5, 2023
DeFi Hacks Top $6 Billion

DeFi Hacks Top $6 Billion

February 5, 2023
  • Privacy Policy
Monday, February 6, 2023
Mount Rushmore Crypto
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction
No Result
View All Result
Mount Rushmore Crypto
No Result
View All Result
Home Crypto

Ethereum Bears Keep Pushing, Why ETH Could Slide Further

J_News by J_News
October 12, 2021
in Crypto, Top News
0
Ethereum Bears Keep Pushing, Why ETH Could Slide Further
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter


Ethereum failed to clear the $3,650 resistance against the US Dollar. ETH price is moving lower and it might extend its decline below $3,450 in the near term.

  • Ethereum struggled to gain strength above the $3,600 and $3,620 levels.
  • The price is now trading below $3,550 and the 100 hourly simple moving average.
  • There is a key declining channel forming with resistance near $3,550 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could slide towards $3,350 unless it breaks the $3,550 resistance zone.

Ethereum Price Faces Hurdles

Ethereum failed to settle above the $3,600 pivot level. ETH formed a high near $3,620 and started a downside correction. There was a break below the $3,550 support and the 100 hourly simple moving average.

The price even broke the 50% Fib retracement level of the upward move from the $3,375 swing low to $3,620 high. Ether is now trading below the $3,520 level, and it is now consolidating near the $3,500 level. An initial support on the downside is near the $3,480 level.

An immediate resistance on the upside is near the $3,635 level and the 100 hourly SMA. The first major resistance is near the $3,550 level. There is also a key declining channel forming with resistance near $3,550 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com

The next major resistance is near the $3,560 level, above which the price might start a fresh surge. In the stated case, the price could climb towards the $3,620 level. The next key resistance might be $3,650.

Dips Limited in ETH?

If ethereum fails to continue higher above the $3,550 and $3,560 resistance levels, it could extend its decline. An initial support on the downside is near the $3,480 level. The first key support is now forming near the $3,450 level.

It is near the 61.8% Fib retracement level of the upward move from the $3,375 swing low to $3,620 high. A downside break could lead the price towards the $3,400 support zone in the near term. Any more losses could push ether price towards the $3,375 support zone. The next key support could be $3,300.

Technical Indicators

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

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

Major Support Level – $3,440

Major Resistance Level – $3,550



Source link

Related articles

Stablecoin adoption could lead to DeFi growth, says Aave founder

Stablecoin adoption could lead to DeFi growth, says Aave founder

February 6, 2023
A Step-By-Step Guide to Understanding a Crypto Whitepaper

A Step-By-Step Guide to Understanding a Crypto Whitepaper

February 6, 2023
ShareTweetShareShare
Previous Post

The trend in Bitcoin is changing again | by geozee | The Capital | Oct, 2021

Next Post

UK gambling watchdog scrutinises NFT game site Sorare

Related Posts

Stablecoin adoption could lead to DeFi growth, says Aave founder

Stablecoin adoption could lead to DeFi growth, says Aave founder

by J_News
February 6, 2023
0

Stani Kulechov, the founder of the decentralized finance (DeFi) protocol Aave, highlighted several issues within the DeFi space at the...

A Step-By-Step Guide to Understanding a Crypto Whitepaper

A Step-By-Step Guide to Understanding a Crypto Whitepaper

by J_News
February 6, 2023
0

Do you know why most people lose money in every new crypto project they invest in? The answer is not...

XRP’s Most Surprising Prediction Made by Reaper Financial CEO: Details

XRP’s Most Surprising Prediction Made by Reaper Financial CEO: Details

by J_News
February 6, 2023
0

Tomiwabold Olajide XRP's seven-year prediction made by Patrick L. Riley, CEO of Reaper Financial Patrick L. Riley, CEO of Reaper...

Seven S. Korean Brokerages Plan to Start Crypto Exchanges Next Year: Report

South Korea Issues Guidelines for Regulating Security Tokens as Legislation Looms

by J_News
February 6, 2023
0

Security tokens refer to the digitalization of securities under the Capital Markets Act using distributed ledger technology, according to the...

Binance Tax launched to prepare crypto users for the tax season

Binance Tax launched to prepare crypto users for the tax season

by J_News
February 6, 2023
0

For many countries, the tax season is right around the corner, which means companies in the crypto industry will need...

Load More

Enter your email address:

Delivered by FeedBurner

Quick Navigate

  • Home
  • Crypto
  • Crypto Technical Analysis
  • Top News
  • Thank You
  • Store
  • Crypto Vouchers
  • About Us
  • What Cryptocurrency Is and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

Top News

Shiba Inu Burn Rate Surges Over 1,300% In 24 Hours

5 Best Sources for Crypto News

Crypto Slang Terms – 20 Words You Should Know

© 2021 mtrushmorecrypto - Crypto Related News Blog

No Result
View All Result
  • Home
  • Top News
  • Crypto
  • Crypto Technical Analysis
  • About Us
  • Crypto Vouchers
  • Cryptocurrency and ANKR Price Prediction
  • Cosmos cryptocurrency price prediction

© 2021 mtrushmorecrypto - Crypto Related News Blog

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information.
Cookie SettingsAccept
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT