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21 hour ago
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BEARISH 📉 : Ethereum struggles to clear $2,960 resistance amid recovery efforts

Ethereum's price has been experiencing fluctuations, testing the $2,800 zone before beginning a recovery. Key points include:

  • Ethereum stayed in a bearish zone, trading below $2,960.
  • Price is slightly above $2,900 and the 100-hourly Simple Moving Average.
  • A break occurred above a bearish trend line at $2,910 on the hourly ETH/USD chart.
  • A fresh increase could start if the price remains above $2,880.

Recovery Potential:

  • ETH tested $2,780 and is attempting a recovery wave.
  • Resistance observed near $2,960 or the 61.8% Fib retracement level.
  • Key resistance at $3,000 and major resistance around $3,020.
  • An upside break above $3,065 might lead to further gains, potentially reaching $3,120 or $3,150.

Potential Decline:

  • If unable to clear $2,960 resistance, a decline may occur.
  • Initial support around $2,880; major support at $2,840.
  • Further losses could see prices drop to $2,765, with main support at $2,720.

Technical Indicators:

  • Hourly MACD: Gaining momentum in bullish zone.
  • Hourly RSI: Above the 50 zone.
  • Major Support Level: $2,840
  • Major Resistance Level: $2,960

Ethereum Price