{"id":31420,"date":"2024-12-27T03:18:39","date_gmt":"2024-12-27T03:18:39","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31420"},"modified":"2024-12-27T03:18:39","modified_gmt":"2024-12-27T03:18:39","slug":"ethereum-price-falls-again-is-the-decline-gaining-momentum","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31420","title":{"rendered":"Ethereum Price Falls Again: Is the Decline Gaining Momentum?"},"content":{"rendered":"

Ethereum price started a fresh decline from the $3,550 resistance. ETH is now showing bearish signs and might slide below the $3,300 level.<\/em><\/p>\n

Ethereum started a fresh decline from the $3,550 zone.
\nThe price is trading below $3,450 and the 100-hourly Simple Moving Average.
\nThere was a break below a connecting bullish trend line with support at $3,450 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could gain bearish momentum if it settles below the $3,300 level.<\/p>\n

Ethereum Price Dips To Support<\/h2>\n

Ethereum price struggled to continue higher above the $3,550 resistance<\/a> and started a fresh decline like Bitcoin<\/a>. ETH traded below the $3,450 and $3,420 support levels.<\/p>\n

There was a break below a connecting bullish trend line with support at $3,450 on the hourly chart of ETH\/USD. The pair even dipped below the 50% Fib retracement level of the upward wave from the $3,225 swing low to the $3,543 high.<\/p>\n

Ethereum price is now trading below $3,450 and the 100-hourly Simple Moving Average. It is now testing the $3,300 support and is above the 76.4% Fib retracement level of the upward wave from the $3,225 swing low to the $3,543 high.<\/p>\n

On the upside, the price seems to be facing hurdles near the $3,380 level. The first major resistance is near the $3,420 level. The main resistance is now forming near $3,500. A clear move above the $3,500 resistance might send the price toward the $3,550 resistance.<\/p>\n

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

An upside break above the $3,550 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,650 resistance zone or even $3,720 in the near term.<\/p>\n

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

If Ethereum fails to clear the $3,420 resistance, it could continue to move down. Initial support on the downside is near the $3,320 level. The first major support sits near the $3,300.<\/p>\n

A clear move below the $3,300 support might push the price toward the $3,250 support. Any more losses might send the price toward the $3,220 support level in the near term. The next key support sits at $3,110.<\/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 $3,300<\/p>\n

Major Resistance Level \u2013 $3,420<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a fresh decline from the $3,550 resistance. ETH is now showing bearish signs and might slide below the $3,300 level. Ethereum started a fresh decline from the $3,550 zone. The price is trading below $3,450 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line with […]<\/p>\n","protected":false},"author":0,"featured_media":31421,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31420","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\/31420"}],"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=31420"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31420\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31421"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31420"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31420"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31420"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}