{"id":21909,"date":"2024-11-20T03:38:03","date_gmt":"2024-11-20T03:38:03","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=21909"},"modified":"2024-11-20T03:38:03","modified_gmt":"2024-11-20T03:38:03","slug":"ethereum-price-faces-challenges-will-it-find-traction-soon","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=21909","title":{"rendered":"Ethereum Price Faces Challenges: Will It Find Traction Soon?"},"content":{"rendered":"

Ethereum price struggled to extend gains above the $3,220 resistance zone. ETH is slowly moving lower and approaching the $3,060 support.<\/em><\/p>\n

Ethereum is consolidating and facing hurdles near $3,200.
\nThe price is trading below $3,120 and the 100-hourly Simple Moving Average.
\nThere is a connecting bullish trend line forming with support at $3,070 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it clears the $3,120 resistance zone.<\/p>\n

Ethereum Price Dips Again<\/h2>\n

Ethereum price attempted an upside break above the $3,220 resistance but failed unlike Bitcoin<\/a>. ETH started a fresh decline below the $3,150 and $3,120 support levels.<\/p>\n

There was a move below $3,100 and the price tested $3,070. A low is formed at $3,069 and the price is now consolidating<\/a>. It tested the 23.6% Fib retracement level of the recent decline from the $3,224 swing high to the $3,069 low.<\/p>\n

Ethereum price is now trading below $3,120 and the 100-hourly Simple Moving Average. However, there is a connecting bullish trend line forming with support at $3,070 on the hourly chart of ETH\/USD.<\/p>\n

On the upside, the price seems to be facing hurdles near the $3,120 level. The first major resistance is near the $3,150 level or the 50% Fib retracement level of the recent decline from the $3,224 swing high to the $3,069 low. The main resistance is now forming near $3,220.<\/p>\n

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

A clear move above the $3,220 resistance might send the price toward the $3,350 resistance. An upside break above the $3,350 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,500 resistance zone.<\/p>\n

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

If Ethereum fails to clear the $3,150 resistance, it could start another decline. Initial support on the downside is near the $3,060 level or the trend line. 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 $2,880. Any more losses might send the price toward the $2,740 support level in the near term. The next key support sits at $2,650.<\/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 \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n

Major Support Level \u2013 $3,060<\/p>\n

Major Resistance Level \u2013 $3,150<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price struggled to extend gains above the $3,220 resistance zone. ETH is slowly moving lower and approaching the $3,060 support. Ethereum is consolidating and facing hurdles near $3,200. The price is trading below $3,120 and the 100-hourly Simple Moving Average. There is a connecting bullish trend line forming with support at $3,070 on the […]<\/p>\n","protected":false},"author":0,"featured_media":21910,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-21909","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\/21909"}],"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=21909"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/21909\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/21910"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=21909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=21909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=21909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}