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14 hour ago
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Ethereum Price Struggles Below $3,500 Amid Bearish Pressure

Ethereum's price is experiencing a decline below $3,500, struggling to recover from $3,050 with resistance near $3,500.

  • ETH began a bearish trend after dropping below $3,550.
  • The price is trading under $3,500 and the 100-hourly SMA.
  • A break above a bearish trend line occurred at $3,410 on the ETH/USD chart.
  • If ETH trades below $3,320, further declines are possible.

Resistance Levels

Ethereum attempted recovery but faced resistance:

  • Price dropped below $3,450 and $3,350 into a bearish zone.
  • Bulls emerged near $3,050, leading to a slight recovery.
  • Resistance remains below $3,500 and the 50% Fib retracement level of the previous downward move.
  • Key resistances are at $3,450 and $3,480.
  • Major resistance is near $3,500; surpassing this could lead to further gains towards $3,740 or $3,800.

Ethereum Price

Potential Decline

If Ethereum fails to overcome the $3,480 resistance:

  • Initial support is at $3,320, with major support at $3,260.
  • A drop below $3,260 could push the price to $3,150.
  • Further losses might bring the price down to $3,050 or even $3,000.

Technical Indicators

  • Hourly MACD: Losing momentum in the bearish zone.
  • Hourly RSI: Above the 50 zone.
  • Major Support Level: $3,260
  • Major Resistance Level: $3,500