NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

Ethereum Recovers 8%, But Here’s Why It Could Resume Its Decline

Aayush Jindal
Aayush Jindal
1 year ago
2 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Ethereum found support near $310 and started an upside correction against the US Dollar. ETH price recovered 8%, but it is facing many hurdles near $360 and $370.

  • Ethereum is up over 8% and it broke the $335 and $340 resistance levels.
  • The price is still well below the $370 resistance and the 100 hourly simple moving average.
  • There was a break above a key bearish trend line with resistance near $350 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could resume its decline if it fails to overcome the main $370 resistance zone.

Ethereum Price Facing Hurdles

After dropping below the $350 support, Ethereum extended its decline below the $335 support. ETH price even broke the $320 support and settled below the 100 hourly simple moving average.

A new monthly low is formed near $310 and ether recently started an upside correction (similar to bitcoin). There was a break above the $325 and $335 resistance levels. More importantly, there was a break above a key bearish trend line with resistance near $350 on the hourly chart of ETH/USD.

The pair surpassed the $350 resistance, but it faced hurdles near the $360 level (the previous support and now a major resistance). A high is formed near $360 and ether price is currently declining below $350. It broke the 23.6% Fib retracement level of the recent upward move from the $310 low to $360 swing high.

Ethereum Price

Ethereum price trades below $360. Source: TradingView.com

An initial support on the downside is near the $340 level. The first major support is near the $335 level. It is close to the 50% Fib retracement level of the recent upward move from the $310 low to $360 swing high.

To start a fresh increase, the price must break the $360 and $370 resistance levels. A successful close above $370 is must for a decent move towards the $400 barrier.

Fresh Decline in ETH?

If Ethereum fails to correct higher above the $360 and $370 resistance levels, it is likely to continue lower. An initial support on the downside is near the $335 level.

A downside break below $340 and $335 could spark a fresh decline. The next major support is near the $322 level, below which there is a risk of a breakdown below the $310 support level.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is still well below the 50 level.

Major Support Level – $335

Major Resistance Level – $371

Tweet123Share196ShareSend
Aayush Jindal
Aayush Jindal

Aayush Jindal

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

Read more

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

cz-double-sa-mise-sur-ethena

Changpeng Zhao double sa mise sur Ethena : ENA va-t-il repartir à la hausse ?

n eChangpeng Zhao a renforcé son exposition à Ethena via YZi Labs, sa structure d’investissement. Le signal tombe à un...

evanss 5 hours ago

Metaplanet a Strategy kúpili Bitcoiny za vyše 700 miliónov dolárov

Bitcoin opäť udáva tón svetovým finančným trhom. Spoločnosti Metaplanet a Strategy nakúpili kryptomenu za stovky miliónov dolárov, čím posilnili dôveru...

Nina Šefčíková 5 hours ago
deutsche-bank-compare-bitcoin-or

Deutsche Bank compare le Bitcoin à l’or : “l’histoire se répète”

Deutsche Bank avance que Bitcoin pourrait rejoindre l’or sur les bilans des banques centrales d’ici 2030, non pour le remplacer...

evanss 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

SOL XRP Bitcoin

Expert Reveals Why XRP Won’t Mirror Bitcoin’s Path And Why A Decoupling Is Imminent

Sandra White 2 hours ago
Fitell Makes Bold Crypto Pivot as Australia’s First Solana Digital Asset Treasury, Will Snorter Token Be Next 1000x Crypto?

Australia’s First Solana Digital Asset Treasury: Will Snorter Token Be Next 1000x Crypto?

Aaron Walker 4 hours ago
Bitcoin

Bitcoin Is Not Done Yet Despite Price Crash To $112,000, Here’s Why

Scott Matherson 5 hours ago

Premium Sponsors

Press Releases

  • Aster z Binance rośnie o 1800% w tydzień pomimo spadku na rynku: Czy Bitcoin Hyper będzie następny?

    Aster z Binance rośnie o 1800% w tydzień pomimo spadku na...

    2 hours ago
  • A kincstári kriptovaluta-részvények hanyatlása, miközben a kereskedők biztonságosabb kriptovaluta előértékesítések felé fordulnak, mint például a PEPENODE

    A kincstári kriptovaluta-részvények hanyatlása...

    2 hours ago
  • Aster z Binance rośnie o 1800% w tydzień pomimo spadku na rynku: Czy Bitcoin Hyper będzie następny?

    Aster z Binance rośnie o 1800% w tydzień pomimo spadku na...

    2 hours ago
  • Akcje skarbowe krypto w spadku, podczas gdy traderzy zwracają się ku bezpieczniejszym przedsprzedażom kryptowalut, takim jak PEPENODE

    Akcje skarbowe krypto w spadku, podczas gdy traderzy...

    4 hours ago
  • Binanceův Aster roste o 1800 % za týden navzdory pádu trhu: Je Bitcoin Hyper dalším na řadě?

    Binanceův Aster roste o 1800 % za týden navzdory pádu...

    4 hours ago

Newsletter

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.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 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.