{"id":20679,"date":"2024-11-15T03:28:44","date_gmt":"2024-11-15T03:28:44","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=20679"},"modified":"2024-11-15T03:28:44","modified_gmt":"2024-11-15T03:28:44","slug":"ethereum-price-at-3000-can-support-prevent-further-losses","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=20679","title":{"rendered":"Ethereum Price at $3,000: Can Support Prevent Further Losses?"},"content":{"rendered":"

Ethereum price started a downside correction below the $3,250 zone. ETH is now consolidating near $3,000 and might attempt a fresh increase.<\/em><\/p>\n

Ethereum started a short-term downside correction below the $3,250 zone.
\nThe price is trading above $3,200 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance at $3,185 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it remains stable above the $3,000 zone.<\/p>\n

Ethereum Price Hits Support<\/h2>\n

Ethereum price failed to extend gains above the $3,450 zone and started a downside correction like Bitcoin<\/a>. ETH declined below the $3,320 and $3,250 support levels.<\/p>\n

The bears even pushed the price below the $3,120 zone. It tested the $3,000 support zone. A low was formed at $3,031 and the price is now consolidating losses. It might soon test the 23.6% Fib retracement level of the recent decline from the $3,340 swing high to the $3,031 low.<\/p>\n

Ethereum price is now trading below $3,200 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,120 level.<\/p>\n

The first major resistance is near the $3,200 level. There is also a connecting bearish trend line<\/a> forming with resistance at $3,185 on the hourly chart of ETH\/USD. The main resistance is now forming near $3,265 or the 76.4% Fib retracement level of the recent decline from the $3,340 swing high to the $3,031 low.<\/p>\n

<\/a><\/p>\n

A clear move above the $3,265 resistance might send the price toward the $3,320 resistance. An upside break above the $3,320 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,450 resistance zone.<\/p>\n

More Losses In ETH?<\/h2>\n

If Ethereum fails to clear the $3,200 resistance, it could continue to move down. Initial support on the downside is near the $3,040 level. The first major support sits near the $3,000 zone.<\/p>\n

A clear move below the $3,000 support might push the price toward $2,950. Any more losses might send the price toward the $2,880 support level in the near term. The next key support sits at $2,740.<\/p>\n

Technical Indicators<\/p>\n

Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bearish zone.<\/p>\n

Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n

Major Support Level \u2013 $3,040<\/p>\n

Major Resistance Level \u2013 $3,200<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a downside correction below the $3,250 zone. ETH is now consolidating near $3,000 and might attempt a fresh increase. Ethereum started a short-term downside correction below the $3,250 zone. The price is trading above $3,200 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at […]<\/p>\n","protected":false},"author":0,"featured_media":20680,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-20679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20679"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20679"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/20679\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/20680"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}