Ethereum Price Trapped Under $3,250, Momentum Tilts Lower
Ethereum price started a fresh decline from the $3,300 resistance. ETH is now consolidating losses and is at risk of more losses below $3,150. Immediate resistance is seen near the $3,220 level. The first key resistance is near the $3,260 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 $3,220 resistance, it could start a fresh decline. Initial support on the downside is near the $3,160 level. The first major support sits near the $3,140 zone or the 76.4% Fib retracement level of the recent wave from the $3,060 swing low to the $3,402 high. A clear move below the $3,140 support might push the price toward the $3,080 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 gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,160 Major Resistance Level – $3,220Downside Continuation In ETH?
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