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Ethereum price is correcting gains from the $3,220 resistance. ETH could start a fresh increase if it clears the $3,055 and $3,080 resistance levels.<\/em><\/p>\n

\n
Ethereum started a fresh decline after it faced resistance near $3,220.<\/li>\n
The price is trading below $3,100 and the 100-hourly Simple Moving Average.<\/li>\n
There is a key bearish trend line forming with resistance at $3,055 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair must stay above the $3,000 support to start another increase toward $3,220.<\/li>\n<\/ul>\n
Ethereum Price Revisits $3K<\/h2>\n
Ethereum price faced resistance at $3,220 and started a downside correction, like Bitcoin<\/a>. ETH declined below the $3,120 and $3,080 levels. It even tested the $3,000 support.<\/p>\n
A low was formed at $3,005 and the price is now consolidating losses<\/a>. Ethereum is trading below $3,100 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,050 level or the 23.6% Fib retracement level of the recent drop from the $3,217 swing high to the $3,005 low.<\/p>\n
There is also a key bearish trend line forming with resistance at $3,055 on the hourly chart of ETH\/USD. The first major resistance is near the $3,080 level or the 100-hourly Simple Moving Average.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
The next key resistance sits at $3,120 or the 61.8% Fib retracement level of the recent drop from the $3,217 swing high to the $3,005 low, above which the price might gain traction and rise toward the $3,200 level. If there is a clear move above the $3,200 level, the price might rise and test the $3,350 resistance. Any more gains could send Ether toward the $3,500 resistance zone.<\/p>\n
More Losses In ETH?<\/h2>\n
If Ethereum fails to clear the $3,055 resistance, it could start another decline. Initial support on the downside is near the $3,000 level. The first major support is near the $2,950 zone.<\/p>\n
The next support is near the $2,920 level. A clear move below the $2,920 support might push the price toward $2,840. Any more losses might send the price toward the $2,720 level in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $3,000<\/p>\n
Major Resistance Level \u2013 $3,080<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price is correcting gains from the $3,220 resistance. ETH could start a fresh increase if it clears the $3,055 and $3,080 resistance levels. Ethereum started a fresh decline after it faced resistance near $3,220. The price is trading below $3,100 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,055 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must stay above the $3,000 support to start another increase toward $3,220. Ethereum Price Revisits $3K Ethereum price faced resistance at $3,220 and started a downside correction, like Bitcoin. ETH declined below the $3,120 and $3,080 levels. It even tested the $3,000 support. A low was formed at $3,005 and the price is now consolidating losses. Ethereum is trading below $3,100 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,050 level or the 23.6% Fib retracement level of the recent drop from the $3,217 swing high to the $3,005 low. There is also a key bearish trend line forming with resistance at $3,055 on the hourly chart of ETH\/USD. The first major resistance is near the $3,080 level or the 100-hourly Simple Moving Average. Source: ETHUSD on TradingView.com The next key resistance sits at $3,120 or the 61.8% Fib retracement level of the recent drop from the $3,217 swing high to the $3,005 low, above which the price might gain traction and rise toward the $3,200 level. If there is a clear move above the $3,200 level, the price might rise and test the $3,350 resistance. Any more gains could send Ether toward the $3,500 resistance zone. More Losses In ETH? If Ethereum fails to clear the $3,055 resistance, it could start another decline. Initial support on the downside is near the $3,000 level. The first major support is near the $2,950 zone. The next support is near the $2,920 level. A clear move below the $2,920 support might push the price toward $2,840. Any more losses might send the price toward the $2,720 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $3,000 Major Resistance Level \u2013 $3,080<\/p>\n","protected":false},"author":67,"featured_media":462852,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[65296,1946,8686,78803],"class_list":["post-606977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price May Have Another Chance For A Bullish Streak: Here's How<\/title>\n<meta name=\"description\" content=\"Ethereum price is correcting gains from the $3,220 resistance. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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