Ethereum

Convergence

Resistance

Divergence

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-struggles-to-break-resistance-as-prices-fluctuate" rel="noopener noreferrer nofollow">Ethereum Struggles to Break Resistance as Prices Fluctuate</a><br></p>
<p style="text-align: justify">The volatility of the <a href="https://en.bitcoinhaber.net/bitcoins-path-in-2024-analysts-predictions-amidst-market-movements" rel="noopener noreferrer nofollow">cryptocurrency</a> market is once again at the forefront, with <a href="https://en.bitcoinhaber.net/ethereums-innovative-erc-404-token-standard-a-new-era-for-digital-assets" rel="noopener noreferrer nofollow">Ethereum</a> (ETH) experiencing difficulty in overcoming a major price hurdle. Despite attempts to surpass the resistance level of $3,650, Ethereum’s price has been unsuccessful, leading to a notable decline and investor unease. The price action reflects a significant pullback from the resistance, with subsequent support levels also being breached.</p>
<h2 id="ethereum-s-resistance-battle-and-potential-recovery">Ethereum’s Resistance Battle and Potential Recovery</h2>
<p style="text-align: justify">Ethereum has faced a setback after being rejected at the $3,650 mark, sliding below several key price points, including $3,550, $3,500, and $3,450. The cryptocurrency went on to test the support at $3,320, where it showed signs of a tentative recovery, pricing slightly above $3,360. Nevertheless, the challenge remains, as Ethereum continues to trade below the crucial $3,500 level and the 100-hour Simple Moving Average, signaling potential resistance to upward movement.</p>
<h2 id="crucial-resistances-and-the-path-forward-for-ethereum">Crucial Resistances and the Path Forward for Ethereum</h2>
<p style="text-align: justify">For Ethereum, breaking above $3,400 represents an immediate challenge, with the $3,420 level acting as the first major resistance near the trend line. A breach of the $3,450 level could catalyze a rally towards higher price points. A significant milestone would be overcoming the $3,650 resistance, potentially setting the stage for Ethereum to aim for the $3,720 resistance level and possibly higher targets.</p>
<h2 id="implications-for-the-reader">Implications for the Reader</h2>
<ul>
 <li>ETH faces critical resistance levels; surpassing $3,650 is key for positive momentum.</li>
 <li>Short-term trends show potential for continued decline if resistances hold firm.</li>
 <li>Key support levels to watch are $3,320 and $3,220, with the risk of dropping to $3,120 or even $3,040.</li>
</ul>
<h2 id="short-term-challenges-and-support-levels">Short-Term Challenges and Support Levels</h2>
<p style="text-align: justify">The immediate future for Ethereum appears challenging, as failure to breach the $3,420 level could lead to a continuation of the downward trend. In such a scenario, Ethereum could find support at $3,320, but a break below this could trigger a descent to $3,250 and potentially the pivotal support at $3,220. A dip below this threshold might result in a drop to $3,120 or even to the lower level of $3,040.</p>
<p style="text-align: justify">Technical analysis further indicates a bearish outlook, with the hourly Moving Average Convergence Divergence (MACD) showing a loss of upward momentum and the Relative Strength Index (RSI) situated below the midway mark of 50. The breach of either the $3,320 support or the $3,420 resistance will be critical in determining Ethereum’s price trajectory in the near term.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-struggles-to-break-resistance-as-prices-fluctuate" rel="noopener noreferrer nofollow">Ethereum Struggles to Break Resistance as Prices Fluctuate</a></h5>

Ethereum Struggles to Break Resistance as Prices Fluctuate

목차

BH NEWS

2024년 4월 2일에 게재된 다른 기사

Bitget Announces Listing of Wormhole (W): Pioneering Cross-Chain Interoperability

Battle Showdown: Gambit Introduces Innovative SkillFi Ecosystem, Redefining Gaming in the Blockch...

Finerca Revolutionizing Trading Education for Today’s Market Dynamics

Best and Worst ETF Zones of Q1

CoinSwitch’s Parent PeepalCo Set To Rival Zerodha, Groww With Zero Brokerage

Could Raboo (RABT) Presale Outperform Bitcoin and Ethereum in the Bull Market Rush?

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!