Ethereum Price Presses Resistance, but Can The Recovery Survive?

The next major resistance is near the $3,150 level. A clear move above the $3,150 resistance might send the price toward the $3,220 resistance. An upside break above the $3,220 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,250 resistance zone or even $3,265 in the near term.

Another Decline In ETH?

If Ethereum fails to clear the $3,080 resistance, it could start a fresh decline. Initial support on the downside is near the $2,980 level and the trend line. The first major support sits near the $2,915 zone.

A clear move below the $2,915 support might push the price toward the $2,840 support. Any more losses might send the price toward the $2,800 region. The next key support sits at $2,775.

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 zone.

Major Support Level – $2,915

Major Resistance Level – $3,080

About Author

See author's posts