TA: Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	349,593,012,030	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

349,593,012,030

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-60.28	-2.03%	2,909.06	2,908.58	2,908.73

Price Change

Price Change %

Current Price

Bid Price

Offer

-60.28

-2.03%

2,909.06

2,908.58

2,908.73

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2,978.02	2,890.28	2,971.46	2,969.34	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2,978.02

2,890.28

2,971.46

2,969.34

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	03:21:34	0.103112	2,909.31	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

03:21:34

0.103112

2,909.31

USD

Price x Volume	Volume	Base Symbol	Related Pairs
26,180,602.41	8,947.07	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

26,180,602.41

8,947.07

TA: Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level

10/01/2022 10:18am

NEWSBTC

Ethereum declined heavily below the $3,250 support against the US Dollar. ETH price tested $3,000 before it attempted an upside correction. Ethereum started another decline and traded below the $3,150 support zone. The price is trading below $3,250 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a major recovery wave if there is a clear move above $3,300. Ethereum Price Remains At Risk Ethereum failed to clear the $3,350 resistance level and started another major decline. ETH declined below the $3,250 and $3,120 support levels to move further into a bearish zone. The price spiked towards $3,000 and traded as low as $3,006. Recently, there was a minor upside correction above the $3,120 and $3,150 levels. Besides, there was a break above a key bearish trend line with resistance near $3,100 on the hourly chart of ETH/USD. Ether price even climbed above $3,200, but there was no upside continuation. Ether price started a fresh decline and traded below $3,200. The price declined below the 23.6% Fib retracement level of the upward move from the $3,006 swing low to $3,209 high. On the upside, an immediate resistance is near the $3,200 level. The next major resistance is near the $3,250 level and the 100 hourly simple moving average. Source: ETHUSD on TradingView.com The main resistance is near the $3,000 level. A clear upside break above the $3,300 level could spark a decent recovery wave. The next key resistance is near the $3,450 level. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,250 level, it could continue to move down. An initial support on the downside is near the $3,120 level. The first key support is now forming near the $3,100 level. It is near the 50% Fib retracement level of the upward move from the $3,006 swing low to $3,209 high. A downside break below the $3,100 level might lead the price towards the key $3,000 support in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is now moving into the bearish zone. Hourly RSI – The RSI for ETH/USD is above the 50 level. Major Support Level – $3,100 Major Resistance Level – $3,300

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ETHUSD Ethereum