CCT - Crypto Currency Tracker logo CCT - Crypto Currency Tracker logo
NewsBTC 2024-03-11 04:29:33

Ethereum Price Starts Consolidation – Why Pullbacks Could Be Limited

Ethereum price is still struggling to clear the $4,000 resistance zone. ETH might consolidate for some time above $3,600 before the bulls gain strength. Ethereum traded to a new multi-month high above $3,980. The price is trading near $3,850 and the 100-hourly Simple Moving Average. There is a short-term breakout pattern forming with resistance at $3,950 on the hourly chart of ETH/USD (data feed via Kraken). The pair could resume its increase if it clears the $3,950 resistance zone. Ethereum Price Revisits $4K Ethereum price extended its rally above the $3,900 level, like Bitcoin. ETH cleared the $3,950 level and traded close to the $4,000 resistance zone. It traded to a new multi-month high above $3,990 and recently started a consolidation phase. There was a pullback below the $3,920 level. The price tested the 23.6% Fib retracement level of the recent wave from the $3,211 swing low to the $3,9983 high. Ethereum price is now consolidating near $3,850 and the 100-hourly Simple Moving Average. There is also a short-term breakout pattern forming with resistance at $3,950 on the hourly chart of ETH/USD. If the pair stays above the $3,800 level, it could attempt another increase. Immediate resistance on the upside is near the $3,900 level. Source: ETHUSD on TradingView.com The first major resistance is near the $3,940 level. The next major resistance is near $4,000, above which the price might gain bullish momentum. In the stated case, Ether could rally toward the $4,120 level. If there is a move above the $4,120 resistance, Ethereum could even rise toward the $4,220 resistance. Any more gains might call for a test of $4,350. Are Dips Limited In ETH? If Ethereum fails to clear the $3,950 resistance, it could start another downside correction. Initial support on the downside is near the $3,800 level. The first major support is near the $3,600 zone or the 50% Fib retracement level of the recent wave from the $3,211 swing low to the $3,9983 high. The next key support could be the $3,400 zone. A clear move below the $3,400 support might send the price toward $3,250. Any more losses might send the price toward the $3,120 level. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 level. Major Support Level – $3,800 Major Resistance Level – $3,950

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta