{"id":627744,"date":"2024-07-04T03:28:24","date_gmt":"2024-07-04T03:28:24","guid":{"rendered":"https:\/\/ktsl888.com\/?p=627744"},"modified":"2024-07-04T03:12:25","modified_gmt":"2024-07-04T03:12:25","slug":"ethereum-price-plummets-3150","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-price-plummets-3150\/","title":{"rendered":"Ethereum Price Plummets: Potential Recovery Hindered by Bearish Pressure"},"content":{"rendered":"<p><em>Ethereum price failed to clear the $3,520 zone and started a fresh decline. ETH dived below the $3,250 support and even tested the $3,150 zone.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh decline below the $3,320 and $3,250 levels.<\/li>\n<li>The price is trading below $3,250 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a key bearish trend line forming with resistance near $3,325 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could correct losses, but upsides might be limited above the $3,320 zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Takes Hit<\/h2>\n<p>Ethereum price failed to continue higher above the $3,450 and $3,420 resistance levels. ETH started another decline below the $3,320 support zone like <a href=\"https:\/\/ktsl888.com\/analysis\/btc\/bitcoin-price-takes-hit-58k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>. There was a move below the $3,250 and $3,220 support levels.<\/p>\n<p>The price declined 5% and even tested the $3,150 support. A low was formed at $3,156 and the price is now consolidating losses. There was a move above the $3,200 resistance level. The price is now testing the 23.6% Fib retracement level of the downward move from the $3,426 swing high to the $3,156 low.<\/p>\n<p>Ethereum is trading below $3,300 and the <a href=\"https:\/\/ktsl888.com\/analysis\/eth\/ethereum-reverses-course-3400\/\" target=\"_blank\" rel=\"noopener \">100-hourly Simple Moving Average<\/a>. If there is a recovery wave, the price might face resistance near the $3,250 level. The first major resistance is near the $3,300 level or the 50% Fib retracement level of the downward move from the $3,426 swing high to the $3,156 low.<\/p>\n<figure id=\"attachment_627745\" aria-describedby=\"caption-attachment-627745\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum_a062c8.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-627745 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum_a062c8.png?resize=1024%2C461\" alt=\"Ethereum Price\" width=\"1024\" height=\"461\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum_a062c8.png?w=1835 1835w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum_a062c8.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum_a062c8.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum_a062c8.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum_a062c8.png?w=1536 1536w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum_a062c8.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/07\/Ethereum_a062c8.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-627745\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>There is also a key bearish trend line forming with resistance near $3,325 on the hourly chart of ETH\/USD. The next major hurdle is near the $3,365 level. A close above the $3,365 level might send Ether toward the $3,450 resistance. The next key resistance is near $3,500. An upside break above the $3,500 resistance might send the price higher. Any more gains could send Ether toward the $3,550 resistance zone.<\/p>\n<h2>Another Decline In ETH?<\/h2>\n<p>If Ethereum fails to clear the $3,320 resistance, it could continue to move down. Initial support on the downside is near $3,200. The first major support sits near the $3,150 zone.<\/p>\n<p>A clear move below the $3,150 support might push the price toward $3,080. Any more losses might send the price toward the $3,050 level in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n<p>Major Support Level \u2013 $3,150<\/p>\n<p>Major Resistance Level \u2013 $3,320<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price failed to clear the $3,520 zone and started a fresh decline. ETH dived below the $3,250 support and even tested the $3,150 zone. Ethereum started a fresh decline below the $3,320 and $3,250 levels. The price is trading below $3,250 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $3,325 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could correct losses, but upsides might be limited above the $3,320 zone. Ethereum Price Takes Hit Ethereum price failed to continue higher above the $3,450 and $3,420 resistance levels. ETH started another decline below the $3,320 support zone like Bitcoin. There was a move below the $3,250 and $3,220 support levels. The price declined 5% and even tested the $3,150 support. A low was formed at $3,156 and the price is now consolidating losses. There was a move above the $3,200 resistance level. The price is now testing the 23.6% Fib retracement level of the downward move from the $3,426 swing high to the $3,156 low. Ethereum is trading below $3,300 and the 100-hourly Simple Moving Average. If there is a recovery wave, the price might face resistance near the $3,250 level. The first major resistance is near the $3,300 level or the 50% Fib retracement level of the downward move from the $3,426 swing high to the $3,156 low. There is also a key bearish trend line forming with resistance near $3,325 on the hourly chart of ETH\/USD. The next major hurdle is near the $3,365 level. A close above the $3,365 level might send Ether toward the $3,450 resistance. The next key resistance is near $3,500. An upside break above the $3,500 resistance might send the price higher. Any more gains could send Ether toward the $3,550 resistance zone. Another Decline In ETH? If Ethereum fails to clear the $3,320 resistance, it could continue to move down. Initial support on the downside is near $3,200. The first major support sits near the $3,150 zone. A clear move below the $3,150 support might push the price toward $3,080. Any more losses might send the price toward the $3,050 level in the near term. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining momentum in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now below the 50 zone. Major Support Level \u2013 $3,150 Major Resistance Level \u2013 $3,320<\/p>\n","protected":false},"author":67,"featured_media":627746,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83362],"tags":[65296,1946,8686,78803],"class_list":["post-627744","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Plummets: Potential Recovery Hindered by Bearish Pressure<\/title>\n<meta name=\"description\" content=\"Ethereum price failed to clear the $3,520 zone and started a fresh decline. 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