Saturday, July 2, 2022
  • Login
Fox Finances
No Result
View All Result
  • Home
  • Business
  • Stocks
  • Investments
  • Commodities
  • Forex
  • Crypto
  • Insurance
  • PF
  • Markets
  • Startups
  • Real Estate
  • Home
  • Business
  • Stocks
  • Investments
  • Commodities
  • Forex
  • Crypto
  • Insurance
  • PF
  • Markets
  • Startups
  • Real Estate
No Result
View All Result
Fox Finances
No Result
View All Result
Home Cryptocurrency

Why Ethereum Must Clear $3,400 For Hopes of a Fresh Increase

Fox Finances by Fox Finances
September 14, 2021
in Cryptocurrency
0
0
SHARES
99
VIEWS
Share on FacebookShare on Twitter


Ethereum is facing a major resistance near $3,400 against the US Dollar. ETH price could start a fresh decline if it fails to clear the $3,400 resistance zone.

  • Ethereum extended its decline below the $3,250 and $3,200 levels.
  • The price is now trading well below $3,400 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $3,370 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could extend its decline unless there is a clear break above the $3,400 resistance.

Ethereum Price is Facing Resistance

Ethereum topped near the $3,450 level and started a fresh decline. ETH traded below the $3,220 support level and settled below the 100 hourly simple moving average.

It even broke the $3,160 support and traded as low as $3,115. Recently, there was a recovery wave above the $3,220 level, similar to bitcoin. There was a break above the $3,250 and $3,280 resistance levels. Ether climbed above the 50% Fib retracement level of the recent decline from the $3,450 swing high to $3,115 low.

However, the price is facing resistance near $3,350 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $3,370 on the hourly chart of ETH/USD.

Ethereum Price

Source: ETHUSD on TradingView.com

An immediate resistance on the upside is near the $3,350 level. The first major resistance is near the $3,380 and $3,400 levels. A proper move above the $3,400 could increase the chances of a steady increase. The next major resistance sits near $3,500. Any more gains could set the pace for a move towards the $3,620 level.

More Losses in ETH?

If ethereum fails to continue higher above the $3,380 and $3,400 resistance levels, it could start another downward move. An initial support on the downside is near the $3,220 level.

The next major support seems to be forming near the $3,150 level. A downside break below the $3,200 and $3,150 support levels might push the price further lower. In the stated case, the price could even decline below $3,100. The next stop for the bears might be near the $3,000 level.

Technical Indicators

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

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

Major Support Level – $3,150

Major Resistance Level – $3,400



Source link

Tags: ClearEthereumFreshHopesincrease
Previous Post

Offered an Advisory Role for Equity…Help Me Understand the Contract : startups

Next Post

Prudential Plc seals Jackson split

Next Post

Prudential Plc seals Jackson split

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest

The UN Just Put Up A Giant Statue In New York That Resembles A “Beast” Described In The Book Of Revelation – Investment Watch

December 9, 2021

Homeowners Insurance for First-Time Buyers

June 27, 2022

China coronavirus – Shanghai reports Covid-19 case outside quarantine area

May 28, 2022

Is the City-State Ready to Become Asia’s Next Crypto Hub?

June 25, 2022

U.S. IPO Weekly Recap: Just One Small IPO As Ivanhoe Electric Delays Pricing

June 25, 2022

The Top 11 Stocks To Start Your Retirement Portfolio

June 24, 2022

The Top 3 Ways Retirees Want to Be Remembered

June 20, 2022

Educational material for commodities

May 28, 2022

Longboat Energy, OMV complete exploration farm-in agreement offshore Norway

July 2, 2022

New baby (due in 3 weeks), 529 or IRA or something else? : personalfinance

July 2, 2022

Bitcoin will see ‘long bear market’ says trader with BTC price stuck at $19K

July 2, 2022

Celsius’ Unsuccessful Attempt to Stabilize Liquidity

July 2, 2022

How to Use Home Equity to Buy Rentals

July 2, 2022

Which ‘Strong Buy’ Dividend Stocks Face the Most Upside?

July 2, 2022

NerdWallet Small-Business Financing Index: Businesses Are Steady Amid Worries

July 2, 2022

Hartville Pet Insurance Review 2022: Pros and Cons

July 2, 2022

Ads

Fox Finances

Get the latest news and follow the coverage of Business & Financial News, Stock Market Updates, Analysis, and more from the trusted sources.

CATEGORIES

  • Business and Finance
  • Commodities
  • Cryptocurrency
  • Forex
  • Insurance
  • Investments
  • Market Research
  • Personal Finance
  • Real Estate
  • Startups
  • Stock Market

RECENT UPDATES

  • Longboat Energy, OMV complete exploration farm-in agreement offshore Norway
  • New baby (due in 3 weeks), 529 or IRA or something else? : personalfinance
  • Bitcoin will see ‘long bear market’ says trader with BTC price stuck at $19K
  • Home
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact us

Copyright © 2021 Fox Finances.

No Result
View All Result
  • Home
  • Business
  • Stocks
  • Investments
  • Commodities
  • Forex
  • Crypto
  • Insurance
  • PF
  • Markets
  • Startups
  • Real Estate

Copyright © 2021 Fox Finances.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In