Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $3.5K

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	399,951,158,661	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

399,951,158,661

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-7.00	-0.21%	3,329.23	3,329.13	3,329.27

Price Change

Price Change %

Current Price

Bid Price

Offer

-7.00

-0.21%

3,329.23

3,329.13

3,329.27

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,400.23	3,272.45	3,323.24	3,336.23	2,080.02 - 4,109.67

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,400.23

3,272.45

3,323.24

3,336.23

2,080.02 - 4,109.67

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	16:34:39	0.015075	3,329.45	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

16:34:39

0.015075

3,329.45

USD

Price x Volume	Volume	Base Symbol	Related Pairs
158,074,320.24	47,308.87	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

158,074,320.24

47,308.87

Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $3.5K

30/04/2024 5:12am

NEWSBTC

Ethereum price struggled to recover above $3,350 and corrected gains. ETH is consolidating near $3,200 and facing many hurdles. Ethereum started another decline and tested the $3,120 zone. The price is trading below $3,220 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $3,170 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below the $3,170 support. Ethereum Price Faces Uphill Task Ethereum price failed to settle above the $3,250 level and started another decline, like Bitcoin. ETH traded below the $3,200 level and even spiked below $3,120. A low was formed at $3,113 and the price is now consolidating. There was a minor increase above the $3,200 level. The price broke the 23.6% Fib retracement level of the recent decline from the $3,355 swing high to the $3,113 low. However, the bears were active near the $3,240 and $3,250 levels. The 50% Fib retracement level of the recent decline from the $3,355 swing high to the $3,113 low acted as a hurdle. There was a fresh decline below the $3,200 level. Ethereum is now trading below $3,200 and the 100-hourly Simple Moving Average. There is also a short-term rising channel forming with support at $3,170 on the hourly chart of ETH/USD. Immediate resistance is near the $3,200 level and the 100-hourly Simple Moving Average. Source: ETHUSD on TradingView.com The first major resistance is near the $3,240 level. The next key resistance sits at $3,300, above which the price might gain traction and rise toward the $3,350 level. A close above the $3,350 resistance could send the price toward the $3,450 resistance. If there is a move above the $3,450 resistance, Ethereum could even test the $3,550 resistance. Any more gains could send Ether toward the $3,620 resistance zone. More Downsides In ETH? If Ethereum fails to clear the $3,250 resistance, it could continue to move down. Initial support on the downside is near the $3,170 level and the channel zone. The first major support is near the $3,120 zone. The main support is near the $3,070 level. A clear move below the $3,070 support might push the price toward $3,030. Any more losses might send the price toward the $2,880 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 level. Major Support Level – $3,170 Major Resistance Level – $3,250

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ETHUSD Ethereum