Ethereum Price Recovery In Jeopardy? Decoding Key Hurdles To Fresh Increase

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	362,416,601,413	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

362,416,601,413

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-16.59	-0.55%	3,018.84	3,018.74	3,018.88

Price Change

Price Change %

Current Price

Bid Price

Offer

-16.59

-0.55%

3,018.84

3,018.74

3,018.88

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,041.71	2,997.12	3,035.64	3,035.43	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,041.71

2,997.12

3,035.64

3,035.43

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	08:05:38	0.009000	3,018.76	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

08:05:38

0.009000

3,018.76

USD

Price x Volume	Volume	Base Symbol	Related Pairs
96,603,176.37	32,028.52	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

96,603,176.37

32,028.52

Ethereum Price Recovery In Jeopardy? Decoding Key Hurdles To Fresh Increase

16/04/2024 5:15am

NEWSBTC

Ethereum price is facing many hurdles near $3,200. ETH could gain bearish momentum if the price stays below $3,200 and $3,280. Ethereum is struggling to recover above the $3,200 resistance zone. The price is trading below $3,200 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with support at $3,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start another decline if there is a close below the $3,000 support zone. Ethereum Price Faces Hurdles Ethereum price started a recovery wave above the $3,000 resistance zone. ETH was able to climb above the $3,120 level. However, the bears were active near the $3,280 resistance zone. A high was formed at $3,278 and the price started a fresh decline, like Bitcoin. There was a move below the $3,200 support zone. The price declined below the 23.6% Fib retracement level of the recovery wave from the $2,537 swing low to the $3,278 high. There was also a break below a connecting bullish trend line with support at $3,100 on the hourly chart of ETH/USD. Ethereum is now trading below $3,200 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,200 level. The first major resistance is near the $3,250 level. The next key resistance sits at $3,280, above which the price might test the $3,350 level. The key hurdle could be $3,500, above which Ether could gain bullish momentum. Source: ETHUSD on TradingView.com In the stated case, the price could rise toward the $3,620 zone. If there is a move above the $3,620 resistance, Ethereum could even rise toward the $3,750 resistance. More Losses In ETH? If Ethereum fails to clear the $3,200 resistance, it could continue to move down. Initial support on the downside is near the $3,000 level. The first major support is near the $2,900 zone or the 50% Fib retracement level of the recovery wave from the $2,537 swing low to the $3,278 high. The next key support could be the $2,820 zone. A clear move below the $2,820 support might send the price toward $2,650. Any more losses might send the price toward the $2,550 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $3,000 Major Resistance Level – $3,200

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