Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hreflang-tags-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
[www-stage.newsbtc.com/analysis/eth/ethereum-price-struggles-3220/amp/]
[wp-includes/functions.php:6121 trigger_error(), wp-includes/functions.php:6061 wp_trigger_error(), wp-includes/l10n.php:1371 _doing_it_wrong(), wp-includes/l10n.php:1409 _load_textdomain_just_in_time(), wp-includes/l10n.php:195 get_translations_for_domain(), wp-includes/l10n.php:307 translate(), wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php:24 __(), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php:45 include_once('wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php'), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php:40 require_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php'), wp-settings.php:545 include_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php'), wp-config.php:53 require_once('wp-settings.php'), wp-load.php:50 require_once('wp-config.php'), wp-blog-header.php:13 require_once('wp-load.php'), index.php:17 require('wp-blog-header.php')]

Ethereum Price Struggles Ahead: Key Hurdles Blocking Its Path?

Ethereum Price Struggles Ahead: Key Hurdles Blocking Its Path?

Ethereum Price Struggles Ahead

Ethereum Price Struggles Ahead

Ethereum price struggled to continue higher above $3,350 and dipped. ETH is now correcting losses and might face resistance near the $3,220 zone.

Ethereum Price Dips Further

Ethereum price started a fresh decline below the $3,320 and $3,220 levels, like Bitcoin. ETH even declined below the $3,050 level before the bulls appeared.

A low was formed at $3,021 and the price is now correcting losses. There was a move above the $3,050 and $3,120 levels. The price surpassed the 23.6% Fib retracement level of the downward move from the $3,427 swing high to the $3,021 low.

Ethereum price is now trading below $3,220 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,220 level or the 50% Fib retracement level of the downward move from the $3,427 swing high to the $3,021 low.

The first major resistance is near the $3,250 level. There is also a key bearish trend line forming with resistance at $3,270 on the hourly chart of ETH/USD. The main resistance is now forming near $3,300.

Source: ETHUSD on TradingView.com

A clear move above the $3,300 resistance might send the price toward the $3,350 resistance. An upside break above the $3,350 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,420 resistance zone or even $3,500 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $3,220 resistance, it could start another decline. Initial support on the downside is near the $3,120 level. The first major support sits near the $3,050.

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 support level in the near term. The next key support sits at $2,950.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now above the 50 zone.

Major Support Level – $3,120

Major Resistance Level – $3,220

Exit mobile version