Ethereum Price Pulls Back: ETH Gains Under Pressure

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,245,156,821,486	SHA-256d

Name

Symbol

Market

Market Cap ($)

Algorithm

Bitcoin

BTCUSD

Crypto

1,245,156,821,486

SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-528.87	-0.83%	63,439.09	63,429.82	63,437.40

Price Change

Price Change %

Current Price

Bid Price

Offer

-528.87

-0.83%

63,439.09

63,429.82

63,437.40

High Price	Low Price	Open Price	Prev. Close	52 Week Range
64,478.26	63,289.15	63,884.14	63,967.96	24,900.00 - 73,835.57

High Price

Low Price

Open Price

Prev. Close

52 Week Range

64,478.26

63,289.15

63,884.14

63,967.96

24,900.00 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	09:18:25	0.000221	63,446.00	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

09:18:25

0.000221

63,446.00

USD

Price x Volume	Volume	Base Symbol	Related Pairs
172,852,173.88	2,703.89	BTC	BTCEUR	BTCGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

172,852,173.88

2,703.89

Ethereum Price Pulls Back: ETH Gains Under Pressure

19/07/2024 4:38am

NEWSBTC

Ethereum price started a downside correction from the $3,500 resistance zone. ETH declined below $3,440 and might struggle to stay above $3,380. Ethereum is correcting gains from the $3,500 zone. The price is trading above $3,400 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $3,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to decline further if there is a close below the $3,350 support. Ethereum Price Retreats From $3,500 Ethereum price started a downside correction from the $3,500 resistance zone. ETH declined below the $3,450 and $3,440 support levels to enter a short-term bearish zone, like Bitcoin. There was a break below a connecting bullish trend line with support at $3,420 on the hourly chart of ETH/USD. The pair even spiked below $3,400 and the 23.6% Fib retracement level of the upward move from the $3,048 swing low to the $3,516 high. Ethereum is now trading above $3,380 and the 100-hourly Simple Moving Average. If the price stays above the 100-hourly Simple Moving Average, it could attempt a fresh increase. On the upside, the price is facing resistance near the $3,440 level. The first major resistance is near the $3,450 level. The next major hurdle is near the $3,500 level. A close above the $3,500 level might send Ether toward the $3,550 resistance. The next key resistance is near $3,620. An upside break above the $3,620 resistance might send the price higher toward the $3,750 resistance zone in the coming days. More Downsides In ETH? If Ethereum fails to clear the $3,440 resistance, it could continue to move down. Initial support on the downside is near $3,400 and the 100-hourly Simple Moving Average. The first major support sits near the $3,350 zone. A clear move below the $3,350 support might push the price toward $3,280 and the 50% Fib retracement level of the upward move from the $3,048 swing low to the $3,516 high. Any more losses might send the price toward the $3,200 support level in the near term. The next key support sits at $3,150. 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 – $3,350 Major Resistance Level – $3,440

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