{"id":37223,"date":"2025-01-20T03:38:45","date_gmt":"2025-01-20T03:38:45","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=37223"},"modified":"2025-01-20T03:38:45","modified_gmt":"2025-01-20T03:38:45","slug":"ethereum-price-faces-another-rejection-will-momentum-return","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=37223","title":{"rendered":"Ethereum Price Faces Another Rejection: Will Momentum Return?"},"content":{"rendered":"

Ethereum price started a downside correction from the $3,500 resistance. ETH is consolidating above $3,120 and facing many hurdles.<\/em><\/p>\n

Ethereum failed to gain pace for a close above $3,500 and corrected gains.
\nThe price is trading below $3,320 and the 100-hourly Simple Moving Average.
\nThere is a short-term connecting bearish trend line forming with resistance at $3,380 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it clears the $3,300 resistance level.<\/p>\n

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

Ethereum price started a decent upward move above the $3,320 level but upsides were limited compared to Bitcoin<\/a>. ETH failed to gain pace for a close above $3,500 and corrected gains.<\/p>\n

There was a move below the $3,320 and $3,300 support levels. A low was formed at $3,141 and the price is now consolidating losses. There was a minor increase above the $3,200 level. The price climbed above the 23.6% Fib retracement level of the recent decline from the $3,445 swing high to the $3,141 low.<\/p>\n

Ethereum price is now trading below $3,280 and the 100-hourly Simple Moving Average<\/a>. On the upside, the price seems to be facing hurdles near the $3,240 level. The first major resistance is near the $3,300 level or the 50% Fib retracement level of the recent decline from the $3,445 swing high to the $3,141 low.<\/p>\n

The main resistance is now forming near $3,380. There is also a short-term connecting bearish trend line forming with resistance at $3,380 on the hourly chart of ETH\/USD. A clear move above the $3,380 resistance might send the price toward the $3,450 resistance.<\/p>\n

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

An upside break above the $3,450 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,500 resistance zone or even $3,550 in the near term.<\/p>\n

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

If Ethereum fails to clear the $3,300 resistance, it could start another decline. Initial support on the downside is near the $3,150 level. The first major support sits near the $3,120.<\/p>\n

A clear move below the $3,120 support might push the price toward the $3,050 support. Any more losses might send the price toward the $3,020 support level in the near term. The next key support sits at $3,000.<\/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 $3,120<\/p>\n

Major Resistance Level \u2013 $3,300<\/p>","protected":false},"excerpt":{"rendered":"

Ethereum price started a downside correction from the $3,500 resistance. ETH is consolidating above $3,120 and facing many hurdles. Ethereum failed to gain pace for a close above $3,500 and corrected gains. The price is trading below $3,320 and the 100-hourly Simple Moving Average. There is a short-term connecting bearish trend line forming with resistance […]<\/p>\n","protected":false},"author":0,"featured_media":37224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-37223","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\/37223"}],"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=37223"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/37223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/37224"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}