TA: Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,350

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	371,912,930,770	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

371,912,930,770

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-25.17	-0.81%	3,092.53	3,092.55	3,092.62

Price Change

Price Change %

Current Price

Bid Price

Offer

-25.17

-0.81%

3,092.53

3,092.55

3,092.62

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,126.89	3,073.70	3,117.96	3,117.70	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,126.89

3,073.70

3,117.96

3,117.70

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	05:34:32	0.097000	3,092.64	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

05:34:32

0.097000

3,092.64

USD

Price x Volume	Volume	Base Symbol	Related Pairs
27,382,266.37	8,843.40	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

27,382,266.37

8,843.40

TA: Ethereum Price Recovery Could Soon Fade If ETH Fails To Surpass $1,350

03/10/2022 7:08am

NEWSBTC

Ethereum started a fresh decline from the $1,350 resistance against the US Dollar. ETH retested $1,255 and remains at a risk of more losses. Ethereum started another decline after it failed to clear the $1,375 zone. The price is now trading below $1,320 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,300 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline sharply if it stays below the $1,350 level for a long time. Ethereum Price Turns Red Ethereum failed to gain pace above the $1,350 resistance zone. ETH started a fresh decline below the $1,320 support zone and the 100 hourly simple moving average. The bears even pushed the price below the $1,300 level. Ether price retested the $1,260 support zone. A low was formed near $1,264 and the price is now consolidating losses. It is now trading below $1,320 and the 100 hourly simple moving average. On the upside, the price is facing resistance near the $1,300 zone. There is also a key bearish trend line forming with resistance near $1,300 on the hourly chart of ETH/USD. The trend line is near the 23.6% Fib retracement level of the recent decline from the $1,373 swing high to $1,264 low. The first major resistance is near the $1,320 level and the 100 hourly simple moving average. The 50% Fib retracement level of the recent decline from the $1,373 swing high to $1,264 low is also near $1,318. Source: ETHUSD on TradingView.com A clear break above $1,320 might start a decent increase towards the $1,350 level. Any more gains may perhaps open the doors for a move towards the $1,400 resistance zone, above which the price could surge to $1,450. Fresh Decline in ETH? If ethereum fails to climb above the $1,320 resistance, it could start a fresh decline. An initial support on the downside is near the $1,260 level. The next major support is near the $1,250 level. A downside break below the $1,250 level might send the price towards the $1,220 support. Any more losses could increase selling and the price might drop to $1,200 or even towards $1,150. Technical Indicators Hourly MACD – The MACD for ETH/USD is now losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now just below the 50 level. Major Support Level – $1,260 Major Resistance Level – $1,320

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