TA: Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $3.2K

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	350,383,671,870	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

350,383,671,870

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	8.66	0.30%	2,918.18	2,918.18	2,918.19

Price Change

Price Change %

Current Price

Bid Price

Offer

8.66

0.30%

2,918.18

2,918.19

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2,935.79	2,904.52	2,913.23	2,909.52	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2,935.79

2,904.52

2,913.23

2,909.52

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	06:59:42	0.002322	2,918.19	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

06:59:42

0.002322

2,918.19

USD

Price x Volume	Volume	Base Symbol	Related Pairs
22,967,675.87	7,874.07	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

22,967,675.87

7,874.07

TA: Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $3.2K

19/01/2022 9:50am

NEWSBTC

Ethereum extended decline below the $3,200 support zone against the US Dollar. ETH price remains at a risk of a sharp decline below $3,000. Ethereum extended decline below the $3,200 and $3,150 support levels. The price is trading below $3,200 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $3,120 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $3,120 and $3,150 resistance levels. Ethereum Price Faces Resistance Ethereum extended decline below the $3,200 support zone. ETH even broke the $3,150 support level and settled below the 100 hourly simple moving average. There was even a break below the $3,120 level. A low is formed near $3,050 and currently correcting losses. It is now approaching the $3,085 resistance. The stated level is near the 23.6% Fib retracement level of the recent drop from the $3,192 swing high to $3,050 low. The first major resistance is near the $3,120 level. There is also a major bearish trend line forming with resistance near $3,120 on the hourly chart of ETH/USD. The trend line is near the 50% Fib retracement level of the recent drop from the $3,192 swing high to $3,050 low. Source: ETHUSD on TradingView.com If there is an upside break above the trend line, the price could rise towards the $3,200 resistance zone. The next major resistance is near the $3,225 level, above which ether price could gain bullish momentum. In the stated case, the price could rise towards $3,350 in the near term. More Losses in ETH? If ethereum fails to start a fresh increase above the $3,120 level, it could continue to move down. An initial support on the downside is near the $3,050 level. The first key support is now forming near the $3,000 level. A downside break below the $3,000 level might accelerate losses in the near term. The next major support for the bulls may perhaps be near the $2,880 handle. Any more losses may perhaps push the price towards the $2,750 level in the coming days. Technical Indicators Hourly MACD – The MACD for ETH/USD is now gaining pace in the bearish zone. Hourly RSI – The RSI for ETH/USD is still well below the 50 level. Major Support Level – $3,050 Major Resistance Level – $3,120

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ETHUSD Ethereum