TA: Ethereum Struggles Below $2.5K, Why 100 SMA Is The Key

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	395,364,766,788	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

395,364,766,788

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	38.58	1.19%	3,290.69	3,290.73	3,290.88

Price Change

Price Change %

Current Price

Bid Price

Offer

38.58

1.19%

3,290.69

3,290.73

3,290.88

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,336.42	3,239.72	3,254.47	3,252.11	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,336.42

3,239.72

3,254.47

3,252.11

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	13:48:04	0.404899	3,290.17	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

13:48:04

0.404899

3,290.17

USD

Price x Volume	Volume	Base Symbol	Related Pairs
130,328,619.78	39,548.37	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

130,328,619.78

39,548.37

TA: Ethereum Struggles Below $2.5K, Why 100 SMA Is The Key

28/01/2022 5:08am

NEWSBTC

Ethereum is consolidating below $2,500 against the US Dollar. ETH price could continue to move down if there is no break above $2,500 and $2,550. Ethereum managed to stay above the $2,320 and $2,300 support levels. The price is still trading below $2,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,450 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a clear move above $2,450 and $2,500. Ethereum Price Holds Support Ethereum declined below the $2,550 support after there was no upside break above $2,700. ETH even declined below the $2,400 level and the 100 hourly simple moving average. However, the bulls were active near the $2,300 zone. A low is formed near $2,316 and the price is now correcting higher. There was a move above the $2,400 level. Ether price even climbed above the 23.6% Fib retracement level of the downward move from the $2,729 swing high to $2,316 low. It is still trading below $2,500 and the 100 hourly simple moving average. An immediate resistance on the upside is near the $2,450 level. Besides, there is a major bearish trend line forming with resistance near $2,450 on the hourly chart of ETH/USD. The first major resistance is near the $2,500 level. A clear move above the $2,500 resistance might start a steady increase. In the stated case, the pair could even surpass the $2,550 level. Source: ETHUSD on TradingView.com The next key hurdle could be $2,630. It is near the 76.4% Fib retracement level of the downward move from the $2,729 swing high to $2,316 low. More Losses in ETH? If ethereum fails to start a fresh increase above the $2,500 level, it could start a fresh decline. An initial support on the downside is near the $2,350 level. The first key support is now forming near the $2,315 level. If there is a downside break below the $2,315 and $2,300 levels, the price could accelerate lower. The next major support for the bulls may perhaps be near the $2,220 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now just above the 50 level. Major Support Level – $2,315 Major Resistance Level – $2,500

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ETHUSD Ethereum