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Este artículo también está disponible en español. Ethereum price started a downside correction below the $3,250 zone. ETH is now consolidating near $3,000 and might attempt a fresh increase. Ethereum started a short-term downside correction below the $3,250 zone. The price is trading above $3,200 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,185 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it remains stable above the $3,000 zone. Ethereum Price Hits Support Ethereum price failed to extend gains above the $3,450 zone and started a downside correction like Bitcoin. ETH declined below the $3,320 and $3,250 support levels. The bears even pushed the price below the $3,120 zone. It tested the $3,000 support zone. A low was formed at $3,031 and the price is now consolidating losses. It might soon test the 23.6% Fib retracement level of the recent decline from the $3,340 swing high to the $3,031 low. Ethereum price is now trading below $3,200 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,120 level. The first major resistance is near the $3,200 level. There is also a connecting bearish trend line forming with resistance at $3,185 on the hourly chart of ETH/USD. The main resistance is now forming near $3,265 or the 76.4% Fib retracement level of the recent decline from the $3,340 swing high to the $3,031 low. Source: ETHUSD on TradingView.com A clear move above the $3,265 resistance might send the price toward the $3,320 resistance. An upside break above the $3,320 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,450 resistance zone. More Losses…

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Filed under: News - @ November 15, 2024 4:21 am