TA: Ethereum Turns Red, What Could Trigger Steady Recovery

Name	Symbol	Market	Market Cap ($)	Algorithm
TRON	TRXUSD	Crypto	10,143,336,407	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

TRON

TRXUSD

Crypto

10,143,336,407

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.002181	1.93%	0.115386	0.115387	0.115414

Price Change

Price Change %

Current Price

Bid Price

Offer

0.002181

1.93%

0.115386

0.115387

0.115414

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.11589	0.113158	0.113205	0.113205	0.064006 - 0.144371

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.11589

0.113158

0.113205

0.064006 - 0.144371

Exchange	Last Trade	Size	Trade Price	Currency
KRKN	14:36:45	85.87	0.115386	USD

Exchange

Last Trade

Size

Trade Price

Currency

KRKN

14:36:45

85.87

0.115386

USD

Price x Volume	Volume	Base Symbol	Related Pairs
148,123.73	1,293,886.98	TRX	TRXEUR	TRXGBP	TRXBTC

Price x Volume

Volume

Base Symbol

Related Pairs

148,123.73

1,293,886.98

TA: Ethereum Turns Red, What Could Trigger Steady Recovery

25/01/2022 5:18am

NEWSBTC

Ethereum extended decline below the $2,400 support zone against the US Dollar. ETH price is recovering, but it must clear $2,550 for a steady upward move. Ethereum extended decline below the $2,500 and $2,400 support levels. The price is trading below $2,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,450 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it fails to recover above $2,500 and $2,550. Ethereum Price Keeps Struggling Ethereum started a major decline after there was a close below the $3,000 level. ETH traded below the key $2,500 support zone to move into a bearish zone. The price even traded below the $2,400 level and settled below the 100 hourly simple moving average. Finally, it traded as low as $2,160 and currently correcting higher. There was a move above the $2,300 and $2,350 levels. Ether price climbed above the 50% Fib retracement level of the recent decline from the $2,547 swing high to $2,160 low. An initial resistance on the upside is near the $2,420 zone. There is also a key bearish trend line forming with resistance near $2,450 on the hourly chart of ETH/USD. The trend line is close to the 76.4% Fib retracement level of the recent decline from the $2,547 swing high to $2,160 low. The first major resistance is near the $2,500 level. The main resistance sits near the $2,550 level. Source: ETHUSD on TradingView.com If there is an upside break above $2,550 resistance, zone, the price could start a decent recovery wave. The next major resistance is near the $2,750 level. More Losses in ETH? If ethereum fails to start a recovery wave above the $2,550 level, it could continue to move down. An initial support on the downside is near the $2,320 level. The first key support is now forming near the $2,250 level. A downside break below the $2,250 level might start another strong decline. The next major support for the bulls may perhaps be near the $2,150 zone. Any more losses could push the price towards the $2,000 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 near the 50 level. Major Support Level – $2,150 Major Resistance Level – $2,550

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