{"id":22238,"date":"2024-11-21T03:28:18","date_gmt":"2024-11-21T03:28:18","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=22238"},"modified":"2024-11-21T03:28:18","modified_gmt":"2024-11-21T03:28:18","slug":"ethereum-price-under-pressure-struggles-could-signal-rising-risks","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=22238","title":{"rendered":"Ethereum Price Under Pressure: Struggles Could Signal Rising Risks?"},"content":{"rendered":"

Ethereum price started another decline below the $3,150 zone. ETH is struggling and might decline further below the $3,000 support zone.<\/em><\/p>\n

Ethereum is slowly moving lower below the $3,150 zone.
\nThe price is trading below $3,100 and the 100-hourly Simple Moving Average.
\nThere is a connecting bearish trend line forming with resistance at $3,080 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could extend losses if there is a close below the $3,000 support zone.<\/p>\n

Ethereum Price Struggle Continues<\/h2>\n

Ethereum price attempted an upside break above the $3,200 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 $3,080 and the price tested $3,040. A low is formed at $3,033 and the price is now consolidating. It tested the 23.6% Fib retracement level of the recent drop from the $3,225 swing high to the $3,033 low.<\/p>\n

Ethereum price is now trading below $3,000 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price seems to be facing hurdles near the $3,080 level.<\/p>\n

The first major resistance is near the $3,120 level or the 50% Fib retracement level of the recent drop from the $3,225 swing high to the $3,033 low. The main resistance is now forming near $3,180. A clear move above the $3,180 resistance might send the price toward the $3,220 resistance.<\/p>\n

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

An upside break above the $3,220 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 $3,100 resistance, it could start another decline. Initial support on the downside is near the $3,030 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 $2,920. 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 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 $3,030<\/p>\n

Major Resistance Level \u2013 $3,100<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started another decline below the $3,150 zone. ETH is struggling and might decline further below the $3,000 support zone. Ethereum is slowly moving lower below the $3,150 zone. The price is trading below $3,100 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $3,080 on […]<\/p>\n","protected":false},"author":0,"featured_media":22239,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-22238","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\/22238"}],"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=22238"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/22238\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/22239"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22238"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22238"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22238"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}