Ethereum Price Falls Back to $3,200, Recovery Faces Its First Real Test
Ethereum price started a fresh decline from the $3,400 resistance. ETH is now consolidating losses and holding the key support at $3,200. Immediate resistance is seen near the $3,230 level. The first key resistance is near the $3,250 level. The next major resistance is near the $3,280 level. A clear move above the $3,280 resistance might send the price toward the $3,320 resistance. An upside break above the $3,320 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,400 resistance zone or even $3,450 in the near term. If Ethereum fails to clear the $3,250 resistance, it could start a fresh decline. Initial support on the downside is near the $3,200 level. The first major support sits near the $3,180 zone. A clear move below the $3,180 support might push the price toward the $3,120 support. Any more losses might send the price toward the $3,050 region. The main support could be $3,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,180 Major Resistance Level – $3,280More Losses In ETH?
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