Ethereum Trades Steady at $3K as Market Eyes Imminent Volatility Shift
Analysis
Price Impact
HighThe article highlights 'imminent volatility shift' and outlines critical resistance ($3,080) and support ($2,950, $2,880) levels. a clear break in either direction is expected to trigger a significant price movement.
Trustworthiness
HighThe source explicitly states a strict editorial policy focused on accuracy, relevance, and impartiality, with content created by industry experts and meticulously reviewed, upholding the highest reporting standards.
Price Direction
NeutralEthereum is in a recovery wave, having surged above $3,000 and trading above key support levels. however, it faces strong resistance at $3,080. while there's potential for further gains if this resistance is cleared, the macd is losing bullish momentum and the rsi is below 50, suggesting a struggle or potential decline if the resistance holds.
Time Effect
ShortThe analysis focuses on immediate resistance and support levels, discussing potential price movements 'in the coming days' and 'in the near term'.
Original Article:
Article Content:
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Ethereum price started a recovery wave and surged above $3,00 0. ETH might continue to rise if it clears the $3,080 resistance. Ethereum started a recovery wave above $2,980 and $3,000. The price is trading above $2,960 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support at $2,950 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it settles above the $3,080 zone. Ethereum Price Eyes More Gains Ethereum price managed to stay above $2,880 and started a recovery wave, like Bitcoin . ETH price was able to climb above the $2,920 and $2,950 levels. The bulls were able to push the price above the 61.8% Fib retracement level of the downward move from the $3,165 swing high to the $2,620 low. The bulls even pumped the price above $3,000 but they struggled to clear the $3,080 zone. The price failed to settle above the 76.4% Fib retracement level of the downward move from the $3,165 swing high to the $2,620 low. Ethereum price is now trading above $2,960 and the 100-hourly Simple Moving Average. Besides, there is a key bullish trend line forming with support at $2,950 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com If there is another upward move, the price could face resistance near the $3,050 level. The next key resistance is near the $3,080 level. The first major resistance is near the $3,120 level. A clear move above the $3,120 resistance might send the price toward the $3,165 resistance. An upside break above the $3,165 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,220 resistance zone or even $3,250 in the near term. Another Decline In ETH? If Ethereum fails to clear the $3,080 resistance, it could start a fresh decline. Initial support on the downside is near the $2,950 level. The first major support sits near the $2,880 zone. A clear move below the $2,880 support might push the price toward the $2,840 support. Any more losses might send the price toward the $2,800 region in the near term. The next key support sits at $2,750 and $2,740. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,950 Major Resistance Level – $3,080