{"id":27132,"date":"2024-12-10T03:18:57","date_gmt":"2024-12-10T03:18:57","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=27132"},"modified":"2024-12-10T03:18:57","modified_gmt":"2024-12-10T03:18:57","slug":"ethereum-price-faces-pressure-bulls-tested-after-setback","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=27132","title":{"rendered":"Ethereum Price Faces Pressure: Bulls Tested After Setback"},"content":{"rendered":"

Ethereum price corrected gains below the $3,880 zone. ETH is now recovering some losses and facing hurdles near the $3,800 resistance zone.<\/em><\/p>\n

Ethereum started a downside correction below $3,880 and $3,800.
\nThe price is trading below $3,880 and the 100-hourly Simple Moving Average.
\nThere is a key bearish trend line forming with resistance at $3,815 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start a fresh increase if it stays above the $3,600 support zone.<\/p>\n

Ethereum Price Dips Further<\/h2>\n

Ethereum price failed to stay above the $4,000 zone and started a downside correction like Bitcoin<\/a>. ETH declined below the $3,880 and $3,800 support levels. It even spiked below $3,600.<\/p>\n

A low was formed at $3,488 and the price is now recovering some losses<\/a>. It climbed above the $3,550 and $3,620 levels. The price surpassed the $3,700 level and tested the 50% Fib retracement level of the downward move from the $4,017 swing high to the $3,488 low.<\/p>\n

Ethereum price is now trading below $3,880 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,780 level. The first major resistance is near the $3,800 level.<\/p>\n

There is also a key bearish trend line forming with resistance at $3,815 on the hourly chart of ETH\/USD. The trend line is close to the 61.8% Fib retracement level of the downward move from the $4,017 swing high to the $3,488 low.<\/p>\n

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

The main resistance is now forming near $3,880. A clear move above the $3,880 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,050 resistance zone or even $4,120.<\/p>\n

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

If Ethereum fails to clear the $3,780 resistance, it could start another decline. Initial support on the downside is near the $3,620 level. The first major support sits near the $3,560 zone.<\/p>\n

A clear move below the $3,560 support might push the price toward the $3,480 support. Any more losses might send the price toward the $3,350 support level in the near term. The next key support sits at $3,250.<\/p>\n

Technical Indicators<\/p>\n

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

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

Major Support Level \u2013 $3,620<\/p>\n

Major Resistance Level \u2013 $3,880<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price corrected gains below the $3,880 zone. ETH is now recovering some losses and facing hurdles near the $3,800 resistance zone. Ethereum started a downside correction below $3,880 and $3,800. The price is trading below $3,880 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $3,815 […]<\/p>\n","protected":false},"author":0,"featured_media":27133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-27132","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\/27132"}],"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=27132"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/27132\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/27133"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}