{"id":29290,"date":"2024-12-18T03:18:45","date_gmt":"2024-12-18T03:18:45","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=29290"},"modified":"2024-12-18T03:18:45","modified_gmt":"2024-12-18T03:18:45","slug":"ethereum-price-falls-short-above-4000-will-bulls-try-again","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=29290","title":{"rendered":"Ethereum Price Falls Short Above $4,000: Will Bulls Try Again?"},"content":{"rendered":"

Ethereum price failed to settle above the $4,000 zone. ETH is correcting gains and might struggle to stay above the $3,820 support zone.<\/em><\/p>\n

Ethereum started a downside correction from the $4,100 zone.
\nThe price is trading below $3,980 and the 100-hourly Simple Moving Average.
\nThere was a break below a key bullish trend line with support at $3,940 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could continue to move down if it fails to stay above the $2,820 support zone.<\/p>\n

Ethereum Price Fails Again<\/h2>\n

Ethereum price struggled to stay above the $4,000 level and underperformed Bitcoin<\/a>. ETH started a fresh decline and traded below the $4,000 support zone.<\/p>\n

There was a move below the $3,980 and $3,940 support levels. Besides, there was a break below a key bullish trend line with support at $3,940 on the hourly chart of ETH\/USD. The pair even dipped below the $3,850 level. A low was formed at $3,837 and the price is now consolidating losses<\/a>.<\/p>\n

Ethereum price is now trading below $3,920 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,900 level. It is close to the 23.6% Fib retracement level of the downward move from the $4,107 swing high to the $3,837 low.<\/p>\n

The first major resistance is near the $3,970 level or the 50% Fib retracement level of the downward move from the $4,107 swing high to the $3,837 low.<\/p>\n

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

The main resistance is now forming near $4,000. A clear move above the $4,000 resistance might send the price toward the $4,120 resistance. An upside break above the $4,120 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,250 resistance zone or even $4,320.<\/p>\n

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

If Ethereum fails to clear the $3,900 resistance, it could continue to move down. Initial support on the downside is near the $3,820 level. The first major support sits near the $3,780 zone.<\/p>\n

A clear move below the $3,780 support might push the price toward the $3,650 support. Any more losses might send the price toward the $3,550 support level in the near term. The next key support sits at $3,500.<\/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 $3,820<\/p>\n

Major Resistance Level \u2013 $3,970<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price failed to settle above the $4,000 zone. ETH is correcting gains and might struggle to stay above the $3,820 support zone. Ethereum started a downside correction from the $4,100 zone. The price is trading below $3,980 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with […]<\/p>\n","protected":false},"author":0,"featured_media":29291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-29290","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\/29290"}],"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=29290"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29290\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/29291"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}