TA: Why Ethereum Must Clear $3,400 For Hopes of a Fresh Increase

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	390,648,444,793	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

390,648,444,793

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	130.79	4.18%	3,260.11	3,260.45	3,260.51

Price Change

Price Change %

Current Price

Bid Price

Offer

130.79

4.18%

3,260.11

3,260.45

3,260.51

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,281.92	3,068.81	3,131.51	3,129.32	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,281.92

3,068.81

3,131.51

3,129.32

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	00:54:54	0.798432	3,260.12	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

00:54:54

0.798432

3,260.12

USD

Price x Volume	Volume	Base Symbol	Related Pairs
217,860,634.64	68,638.98	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

217,860,634.64

68,638.98

TA: Why Ethereum Must Clear $3,400 For Hopes of a Fresh Increase

14/09/2021 6:08am

NEWSBTC

Ethereum is facing a major resistance near $3,400 against the US Dollar. ETH price could start a fresh decline if it fails to clear the $3,400 resistance zone. Ethereum extended its decline below the $3,250 and $3,200 levels. The price is now trading well below $3,400 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $3,370 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend its decline unless there is a clear break above the $3,400 resistance. Ethereum Price is Facing Resistance Ethereum topped near the $3,450 level and started a fresh decline. ETH traded below the $3,220 support level and settled below the 100 hourly simple moving average. It even broke the $3,160 support and traded as low as $3,115. Recently, there was a recovery wave above the $3,220 level, similar to bitcoin. There was a break above the $3,250 and $3,280 resistance levels. Ether climbed above the 50% Fib retracement level of the recent decline from the $3,450 swing high to $3,115 low. However, the price is facing resistance near $3,350 and the 100 hourly simple moving average. There is also a key bearish trend line forming with resistance near $3,370 on the hourly chart of ETH/USD. Source: ETHUSD on TradingView.com An immediate resistance on the upside is near the $3,350 level. The first major resistance is near the $3,380 and $3,400 levels. A proper move above the $3,400 could increase the chances of a steady increase. The next major resistance sits near $3,500. Any more gains could set the pace for a move towards the $3,620 level. More Losses in ETH? If ethereum fails to continue higher above the $3,380 and $3,400 resistance levels, it could start another downward move. An initial support on the downside is near the $3,220 level. The next major support seems to be forming near the $3,150 level. A downside break below the $3,200 and $3,150 support levels might push the price further lower. In the stated case, the price could even decline below $3,100. The next stop for the bears might be near the $3,000 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is slowly gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 level. Major Support Level – $3,150 Major Resistance Level – $3,400

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ETHUSD Ethereum