TA: Ethereum Nosedives, Indicators Show Signs of Larger Downtrend

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	377,573,718,774	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

377,573,718,774

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-10.54	-0.33%	3,145.33	3,145.89	3,146.09

Price Change

Price Change %

Current Price

Bid Price

Offer

-10.54

-0.33%

3,145.33

3,145.89

3,146.09

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,164.37	3,125.11	3,155.17	3,155.87	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,164.37

3,125.11

3,155.17

3,155.87

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GEMN	10:07:22	0.001900	3,144.39	USD

Exchange

Last Trade

Size

Trade Price

Currency

GEMN

10:07:22

0.001900

3,144.39

USD

Price x Volume	Volume	Base Symbol	Related Pairs
85,425,969.74	27,184.22	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

85,425,969.74

27,184.22

TA: Ethereum Nosedives, Indicators Show Signs of Larger Downtrend

21/01/2022 5:08am

NEWSBTC

Ethereum extended decline below the $3,000 support zone against the US Dollar. ETH price could extend losses towards the $2,650 support in the near term. Ethereum extended decline below the $3,050 and $3,000 support levels. The price is trading below $3,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $3,120 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if there is a clear move below the $2,800 support zone. Ethereum Price Dives 8% Ethereum failed to gain strength above the $3,250 level and started a major decline. ETH formed a high near $3,272 before there was a major decline. There was a sharp move below the $3,120 and $3,050 support levels. Besides, there was a break below a key bullish trend line with support near $3,120 on the hourly chart of ETH/USD. Ether price even settled below the $3,000 level and the 100 hourly simple moving average. The price spiked below the $2,900 level and traded as low as $2,808. It is now consolidating losses above the $2,800 level. An initial resistance is near the $2,900 zone. It is close to the 23.6% Fib retracement level of the recent decline from the $3,272 swing high to $2,808 low. The first major resistance is near the $3,000 level or the 50% Fib retracement level of the recent decline from the $3,272 swing high to $2,808 low. Source: ETHUSD on TradingView.com If there is an upside break above $3,000 resistance, zone, the price could rise towards the 100 hourly simple moving average. The next major resistance is near the $3,200 level. More Losses in ETH? If ethereum fails to start a recovery wave above the $2,900 level, it could continue to move down. An initial support on the downside is near the $2,820 level. The first key support is now forming near the $2,800 level. A downside break below the $2,800 level might start another strong decline. The next major support for the bulls may perhaps be near the $2,650 zone. Any more losses could push the price towards the $2,500 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is now in the oversold zone. Major Support Level – $2,800 Major Resistance Level – $3,000

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