• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Bitcoin Casino ReviewsTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum
Nexo Logo

TA: Ethereum Drop 10% on the Day, and it’s Vulnerable For Bigger Decline

Aayush Jindal by Aayush Jindal
7 months ago
in ETH
Reading Time: 2 mins read
Advertisement

Ethereum declined heavily below the $3,680 support against the US Dollar. ETH price is sliding and there is a risk of a move towards the $3,200 level.

  • Ethereum started another decline from the $3,750 resistance zone.
  • The price is trading below $3,550 and the 100 hourly simple moving average.
  • There was a break below a key contracting triangle with support near $3,800 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair remains at a risk of a larger decline below the $3,400 level.

Ethereum Price Eyes More Downsides

Ethereum failed to clear the $3,850 resistance level and started a major decline. ETH declined below the $3,750 and $3,700 support levels to move into a bearish zone.

Besides, there was a break below a key contracting triangle with support near $3,800 on the hourly chart of ETH/USD. There was a close below the $3,600 level and the 100 hourly simple moving average. The bears even pushed the price below the $3,500 level.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

A low was formed near $3,411 and the price is now struggling to recover. Ether price is now trading below $3,550 and the 100 hourly simple moving average. An immediate resistance is near the $3,500 level. It is near the 23.6% Fib retracement level of the downward move from the $3,847 swing high to $3,411 low.

The next major resistance is near the $3,630 level. It is close to the 50% Fib retracement level of the downward move from the $3,847 swing high to $3,411 low.

Ethereum Price

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
Source: ETHUSD on TradingView.com

A clear upside break above the $3,630 level could spark a decent recovery wave. Any more gains could send the price towards the $3,700 level. The next main resistance is near the $3,750 level and the 100 hourly simple moving average.

More Losses in ETH?

If ethereum fails to start a fresh increase above the $3,550 level, it could continue to move down. An initial support on the downside is near the $3,420 level.

The first key support is now forming near the $3,400 level. A downside break below the $3,400 level might lead the price towards the key $3,320 support in the near term. The next major support is near the $3,200 level.

Read our comparison of 50 different crypto casinos. Find out who has most generous bonuses, best UX, knowledgeable customer support and best provably fair games.

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 in the oversold region.

Major Support Level – $3,400

Major Resistance Level – $3,550

Tags: ethereumethusdETHUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

Ethereum Price Forecast Remains Bullish As Network Nears Another Milestone

2 days ago
Ethereum

TA: Ethereum Gearing For Another Lift-Off to $2k: Rally Isn’t Over Yet

3 days ago
Ethereum

TA: Ethereum Climbs To $1,900, Why $2K Could Be Next

4 days ago
TA- Ethereum Price struggles To Breakout – Eyes $2,000

TA- Ethereum Price struggles To Breakout – Eyes $2,000

6 days ago
Ethereum

TA: Ethereum Eyes Fresh Surge As It Holds Key Uptrend Support

1 week ago
Ethereum

TA: Ethereum Eyes Fresh Rally If It Clears This Key Breakout Zone

2 weeks ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Keninah Concord And Fantom, Paired with Baby Doge Coin Will Give You a Well-Balanced Wallet!

August 14, 2022

Can Carlossy Caterpillar Achieve What Meme Coin Giants Dogecoin and Shiba Inu have?

August 14, 2022

To Take DeFi To The Next Level, We Need Killer App, says Ripple Executive. Can Youniverze Be The One?

August 14, 2022

GNOX (GNOX): Likely Top 50 Crypto Similar To EOS (EOS) And Sandbox (SAND) After Presale Sold-Out Quickly

August 14, 2022

Gnox (GNOX), Sandbox (SAND) and Decentraland (MANA): The Most Promising Investments in 2022

August 14, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Bitcoin Casino Reviews

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.