{"id":38262,"date":"2025-01-23T03:28:21","date_gmt":"2025-01-23T03:28:21","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=38262"},"modified":"2025-01-23T03:28:21","modified_gmt":"2025-01-23T03:28:21","slug":"ethereum-bears-emerge-is-a-deeper-pullback-coming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=38262","title":{"rendered":"Ethereum Bears Emerge: Is a Deeper Pullback Coming?"},"content":{"rendered":"

Ethereum price is struggling below the $3,400 resistance. ETH is showing a few bearish signs and might decline below the $3,150 support.<\/em><\/p>\n

Ethereum failed to gain pace for a close above $3,350 and $3,400.
\nThe price is trading below $3,300 and the 100-hourly Simple Moving Average.
\nThere was a break below a key contracting triangle with support at $3,270 on the hourly chart of ETH\/USD (data feed via Kraken).
\nThe pair could start another increase if it stays above the $3,120 support level.<\/p>\n

Ethereum Price Breaks Support<\/h2>\n

Ethereum price started a decent upward move from the $3,220 level but upsides were limited compared to Bitcoin<\/a>. ETH cleared the $3,300 resistance before the bears appeared.<\/p>\n

A high was formed at $3,361 and the price is now moving lower. There was a move below the $3,250 and $3,220 support levels<\/a>. Besides, there was a break below a key contracting triangle with support at $3,270 on the hourly chart of ETH\/USD.<\/p>\n

A low was formed at $3,201 and the price is now consolidating. Ethereum price is now trading below $3,300 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,280 level or the 50% Fib retracement level of the downward move from the $3,363 swing high to the $3,201 low.<\/p>\n

The first major resistance is near the $3,300 level or the 61.8% Fib retracement level of the downward move from the $3,363 swing high to the $3,201 low. The main resistance is now forming near $3,350.<\/p>\n

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

A clear move above the $3,350 resistance might send the price toward the $3,450 resistance. 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 $3,550 resistance zone or even $3,580 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 $3,200 level. The first major support sits near the $3,150.<\/p>\n

A clear move below the $3,150 support might push the price toward the $3,120 support. Any more losses might send the price toward the $3,050 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 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 $3,200<\/p>\n

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

Ethereum price is struggling below the $3,400 resistance. ETH is showing a few bearish signs and might decline below the $3,150 support. Ethereum failed to gain pace for a close above $3,350 and $3,400. The price is trading below $3,300 and the 100-hourly Simple Moving Average. There was a break below a key contracting triangle […]<\/p>\n","protected":false},"author":0,"featured_media":38263,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38262","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\/38262"}],"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=38262"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38262\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/38263"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38262"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38262"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38262"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}