Ethereum Price Slippery Slope: More Downside Risks in Sight

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	413,674,910,625	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

413,674,910,625

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	73.32	2.18%	3,442.86	3,442.78	3,442.86

Price Change

Price Change %

Current Price

Bid Price

Offer

73.32

2.18%

3,442.86

3,442.78

3,442.86

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,474.12	3,359.23	3,367.41	3,369.54	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,474.12

3,359.23

3,367.41

3,369.54

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GEMN	00:53:59	0.142400	3,443.48	USD

Exchange

Last Trade

Size

Trade Price

Currency

GEMN

00:53:59

0.142400

3,443.48

USD

Price x Volume	Volume	Base Symbol	Related Pairs
401,690,468.78	117,262.18	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

401,690,468.78

117,262.18

Ethereum Price Slippery Slope: More Downside Risks in Sight

13/06/2024 4:58am

NEWSBTC

Ethereum price failed to clear the $3,650 resistance. ETH declined again after the Fed decision and now shows bearish signs below the $3,550 level. Ethereum started a fresh decline below the $3,580 support zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There is a major bearish trend line forming with resistance near $3,610 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it stays below the $3,600 resistance zone. Ethereum Price Dips Again Ethereum price attempted a recovery wave above the $3,550 and $3,580 resistance levels. However, ETH failed to settle above the $3,650 level and started another decline. There was a steady decline below the $3,580 level, like Bitcoin. The price declined below the $3,550 support level. There was a move below the 61.8% Fib retracement level of the upward move from the $3,431 swing low to the $3,655 high. Ethereum is now trading below $3,550 and the 100-hourly Simple Moving Average. There is also a major bearish trend line forming with resistance near $3,610 on the hourly chart of ETH/USD. If there is a fresh increase, the price might face resistance near the $3,580 level. The first major resistance is near the $3,600 level and the trend line. An upside break above the $3,600 resistance might send the price higher. The next key resistance sits at $3,650, above which the price might gain traction and rise toward the $3,720 level. A clear move above the $3,720 level might call for a test of the $3,800 resistance. Any more gains could send Ether toward the $3,880 resistance zone. More Downsides In ETH? If Ethereum fails to clear the $3,600 resistance, it could continue to move down. Initial support on the downside is near $3,480 and the 76.4% Fib retracement level of the upward move from the $3,431 swing low to the $3,655 high. The next major support is near the $3,420 zone. A clear move below the $3,420 support might push the price toward $3,320. Any more losses might send the price toward the $3,250 level in the near term. 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 zone. Major Support Level – $3,420 Major Resistance Level – $3,600

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ETHUSD Ethereum