Ethereum Price Rebounds, Yet $3K Remains A Brutal Resistance Test
Ethereum price extended losses and tested the $2,800 zone. ETH is now recovering some losses and might aim for more gains if it clears $2,960. The first key resistance is near the $3,000 level. The next major resistance is near the $3,020 level. A clear move above the $3,020 resistance might send the price toward the $3,065 resistance. An upside break above the $3,065 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $3,120 resistance zone or even $3,150 in the near term. If Ethereum fails to clear the $2,960 resistance, it could start a fresh decline. Initial support on the downside is near the $2,880 level. The first major support sits near the $2,840 zone. A clear move below the $2,840 support might push the price toward the $2,800 support. Any more losses might send the price toward the $2,765 region. The main support could be $2,720. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,840 Major Resistance Level – $2,960Another Decline In ETH?
About Author
