Ethereum Price Inches Higher, Building Pressure for a Follow-Through
Analysis
Price Impact
MedEthereum's price is at a critical juncture, attempting to recover from a dip while facing significant resistance levels. a clear break above or below key price points ($3,180, $3,050) could lead to noticeable price swings.
Trustworthiness
HighThe source explicitly states strict editorial policy, expert review, and high standards in reporting, which indicates strong reliability.
Price Direction
NeutralEth is currently consolidating losses after a dip and is attempting a recovery. while a bearish trend line was broken, the price is still below major resistance levels ($3,150, $3,180) and the 100-hourly sma. the macd is bullish, but rsi is below 50, indicating mixed signals. the outcome depends on whether it can clear $3,180 or falls below $3,050.
Time Effect
ShortThe analysis focuses on immediate resistance and support levels, discussing potential movements in the 'coming days' and 'near term' based on hourly chart data.
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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 failed to clear the $3,220 resistance and dipped. ETH is now attempting to recover and faces an uphill task near the $3,150 level. Ethereum started a downside correction below $3,220 and $3,200. The price is trading below $3,180 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $3,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move up if it stays above the $3,050 zone. Ethereum Price Attempts Fresh Increase Ethereum price failed to remain stable above $3,220 and dipped further, like Bitcoin . ETH price declined below $3,200 and $3,120 to enter a short-term bearish zone. The price even dipped below $3,120. A low was formed at $3,050, and the price is now consolidating losses. It tested the 23.6% Fib retracement level of the recent decline from the $3,308 swing high to the $3,050 low. Besides, there was a break above a connecting bearish trend line with resistance at $3,100 on the hourly chart of ETH/USD. Ethereum price is now trading below $3,180 and the 100-hourly Simple Moving Average . If the bulls can protect more losses below $3,050, the price could attempt another increase. Immediate resistance is seen near the $3,150 level. The first key resistance is near the $3,180 level and the 50% Fib retracement level of the recent decline from the $3,308 swing high to the $3,050 low. The next major resistance is near the $3,210 level. Source: ETHUSD on TradingView.com A clear move above the $3,210 resistance might send the price toward the $3,250 resistance. An upside break above the $3,250 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,300 resistance zone or even $3,320 in the near term. Another Decline In ETH? If Ethereum fails to clear the $3,180 resistance, it could start a fresh decline. Initial support on the downside is near the $3,080 level. The first major support sits near the $3,050 zone. A clear move below the $3,050 support might push the price toward the $3,020 support. Any more losses might send the price toward the $3,000 region. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,050 Major Resistance Level – $3,180