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{"id":605909,"date":"2024-05-01T04:06:15","date_gmt":"2024-05-01T04:06:15","guid":{"rendered":"https:\/\/ktsl888.com\/?p=605909"},"modified":"2024-06-11T07:17:03","modified_gmt":"2024-06-11T07:17:03","slug":"ethereum-price-plunges-2800","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-price-plunges-2800\/","title":{"rendered":"Ethereum Price Plunges Over 5%, Can Bears Push ETH Under $2,800?"},"content":{"rendered":"

Ethereum price started another decline and traded below $3,000. ETH must stay above the $2,800 and $2,850 support levels to avoid a major drop.<\/em><\/p>\n

\n
Ethereum started another decline and tested the $2,900 zone.<\/li>\n
The price is trading below $3,120 and the 100-hourly Simple Moving Average.<\/li>\n
There is a connecting bearish trend line forming with resistance at $3,120 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair could continue to move down if it settles below the $2,850 support.<\/li>\n<\/ul>\n
Ethereum Price Dives Again<\/h2>\n
Ethereum price struggled to gain pace for a move above the $3,250 level and started another decline, like Bitcoin<\/a>. ETH traded below the $3,120 level. The bears even pushed the price below the $3,000 level.<\/p>\n
A low was formed at $2,916 and the price is now consolidating. There was a minor increase above the $3,000 level. The price tested the 23.6% Fib retracement level of the downward move from the $3,356 swing high to the $2,916 low. However, the bears were active near the $3,000 and $3,020 levels.<\/p>\n
Ethereum is now trading below $3,120 and the 100-hourly Simple Moving Average<\/a>. Immediate resistance is near the $3,020 level. The first major resistance is near the $3,120 level and the 100-hourly Simple Moving Average.<\/p>\n
There is also a connecting bearish trend line forming with resistance at $3,120 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the downward move from the $3,356 swing high to the $2,916 low.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/p>\n
The next key resistance sits at $3,185, above which the price might gain traction and rise toward the $3,250 level. A close above the $3,250 resistance could send the price toward the $3,350 resistance. If there is a move above the $3,350 resistance, Ethereum could even test the $3,500 resistance. Any more gains could send Ether toward the $3,620 resistance zone.<\/p>\n
More Downsides In ETH?<\/h2>\n
If Ethereum fails to clear the $3,120 resistance, it could continue to move down. Initial support on the downside is near the $2,940 level and the channel zone. The first major support is near the $2,850 zone.<\/p>\n
The main support is near the $2,800 level. A clear move below the $2,800 support might push the price toward $2,650. Any more losses might send the price toward the $2,540 level in the near term.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n
Hourly RSI – <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $2,940<\/p>\n
Major Resistance Level \u2013 $3,120<\/p>\n","protected":false},"excerpt":{"rendered":"
Ethereum price started another decline and traded below $3,000. ETH must stay above the $2,800 and $2,850 support levels to avoid a major drop. Ethereum started another decline and tested the $2,900 zone. The price is trading below $3,120 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,120 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could continue to move down if it settles below the $2,850 support. Ethereum Price Dives Again Ethereum price struggled to gain pace for a move above the $3,250 level and started another decline, like Bitcoin. ETH traded below the $3,120 level. The bears even pushed the price below the $3,000 level. A low was formed at $2,916 and the price is now consolidating. There was a minor increase above the $3,000 level. The price tested the 23.6% Fib retracement level of the downward move from the $3,356 swing high to the $2,916 low. However, the bears were active near the $3,000 and $3,020 levels. Ethereum is now trading below $3,120 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,020 level. The first major resistance is near the $3,120 level and the 100-hourly Simple Moving Average. There is also a connecting bearish trend line forming with resistance at $3,120 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the downward move from the $3,356 swing high to the $2,916 low. Source: ETHUSD on TradingView.com The next key resistance sits at $3,185, above which the price might gain traction and rise toward the $3,250 level. A close above the $3,250 resistance could send the price toward the $3,350 resistance. If there is a move above the $3,350 resistance, Ethereum could even test the $3,500 resistance. Any more gains could send Ether toward the $3,620 resistance zone. More Downsides In ETH? If Ethereum fails to clear the $3,120 resistance, it could continue to move down. Initial support on the downside is near the $2,940 level and the channel zone. The first major support is near the $2,850 zone. The main support is near the $2,800 level. A clear move below the $2,800 support might push the price toward $2,650. Any more losses might send the price toward the $2,540 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH\/USD is now below the 50 level. Major Support Level \u2013 $2,940 Major Resistance Level \u2013 $3,120<\/p>\n","protected":false},"author":67,"featured_media":487709,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[65296,1946,8686,78803],"class_list":["post-605909","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Price Plunges Over 5%, Can Bears Push ETH Under $2,800?<\/title>\n<meta name=\"description\" content=\"Ethereum price started another decline and traded below $3,000. 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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. 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