Ethereum Price Faces Recovery Hurdle: Examining The Roadblocks Ahead

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	405,016,103,925	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

405,016,103,925

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-71.63	-2.08%	3,373.83	3,373.82	3,373.83

Price Change

Price Change %

Current Price

Bid Price

Offer

-71.63

-2.08%

3,373.83

3,373.82

3,373.83

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,484.72	3,360.01	3,446.12	3,445.46	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,484.72

3,360.01

3,446.12

3,445.46

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:43:08	0.001440	3,373.83	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:43:08

0.001440

3,373.83

USD

Price x Volume	Volume	Base Symbol	Related Pairs
389,124,677.48	113,767.21	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

389,124,677.48

113,767.21

Ethereum Price Faces Recovery Hurdle: Examining The Roadblocks Ahead

26/06/2024 4:28am

NEWSBTC

Ethereum price started a recovery wave from the $3,230 zone. ETH climbed above $3,350, but it now faces strong resistance at $3,420. Ethereum started an upside correction from the $3,240 support zone. The price is trading below $3,420 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $3,420 and $3,450 resistance levels to continue higher. Ethereum Price Eyes Recovery Ethereum price extended losses and traded below the $3,350 zone. ETH even tested the $3,240 support zone before it started a recovery wave like Bitcoin. There was a decent increase above the $3,300 and $3,320 levels. The bulls pushed the price above $3,350. It even spiked above the 61.8% Fib retracement level of the downward move from the $3,518 swing high to the $3,230 low. However, the price seems to be facing strong resistance near the $3,420 zone. There is also a key bearish trend line forming with resistance near $3,410 on the hourly chart of ETH/USD. Ethereum is still trading below $3,420 and the 100-hourly Simple Moving Average. On the upside, the price is facing hurdles near the trend line and $3,420. The first major resistance is near the $3,450 level. It is close to the 76.4% Fib retracement level of the downward move from the $3,518 swing high to the $3,230 low. A close above the $3,450 level might send Ethereum toward the $3,520 resistance. The next key resistance is near $3,550. An upside break above the $3,550 resistance might send the price higher. The next key resistance sits at $3,620, above which the price might gain traction and rise toward the $3,650 level. Any more gains could send Ether toward the $3,720 resistance zone. Another Drop In ETH? If Ethereum fails to clear the $3,420 resistance, it could start another decline. Initial support on the downside is near $3,375. 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. Any more losses might send the price toward the $3,240 level in the near term. 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 above the 50 zone. Major Support Level – $3,300 Major Resistance Level – $3,420

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ETHUSD Ethereum