Ethereum Price Recovery In Jeopardy? Decoding Major Hurdles To Upside Continuation

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	371,079,012,944	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

371,079,012,944

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-47.67	-1.53%	3,076.41	3,076.11	3,076.37

Price Change

Price Change %

Current Price

Bid Price

Offer

-47.67

-1.53%

3,076.41

3,076.11

3,076.37

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,137.64	3,075.38	3,123.05	3,124.06	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,137.64

3,075.38

3,123.05

3,124.06

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	13:52:58	0.005505	3,076.39	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

13:52:58

0.005505

3,076.39

USD

Price x Volume	Volume	Base Symbol	Related Pairs
61,830,904.74	19,883.36	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

61,830,904.74

19,883.36

Ethereum Price Recovery In Jeopardy? Decoding Major Hurdles To Upside Continuation

07/05/2024 5:32am

NEWSBTC

Ethereum price extended its recovery wave above the $3,120 zone. ETH failed to surpass the $3,220 resistance and is currently trimming gains. Ethereum climbed further above the $3,150 and $3,200 levels before the bears appeared. The price is trading below $3,120 and the 100-hourly Simple Moving Average. There was a break below a major bullish trend line with support at $3,120 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $3,020 support to start another increase toward $3,220. Ethereum Price Dips Again Ethereum price climbed further above the $3,150 and $3,200 levels, like Bitcoin. ETH tested the $3,220 resistance zone before the bears appeared. A high was formed at $3,217 and the price started a downside correction. There was a move below the $3,150 level. The bears pushed it below the $3,120 support. Besides, there was a break below a major bullish trend line with support at $3,120 on the hourly chart of ETH/USD. The pair tested the $3,025 zone. A low was formed at $3,025 and the price is now consolidating losses. Ethereum is trading below $3,120 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,070 level or the 23.6% Fib retracement level of the recent decline from the $3,217 swing high to the $3,025 low. The first major resistance is near the $3,120 level or the 50% Fib retracement level of the recent decline from the $3,217 swing high to the $3,025 low. The next key resistance sits at $3,170, above which the price might gain traction and rise toward the $3,220 level. Source: ETHUSD on TradingView.com If the bulls remain in action and push the price above $3,220, there could be a drift toward the $3,350 resistance. Any more gains could send Ether toward the $3,500 resistance zone. More Losses In ETH? If Ethereum fails to clear the $3,120 resistance, it could start another decline. Initial support on the downside is near the $3,025 level. The first major support is near the $3,000 zone. The main support is near the $2,950 level. A clear move below the $2,950 support might push the price toward $2,820. Any more losses might send the price toward the $2,650 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 below the 50 level. Major Support Level – $3,025 Major Resistance Level – $3,120

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ETHUSD Ethereum