{"id":139444,"date":"2021-09-22T06:30:14","date_gmt":"2021-09-22T06:30:14","guid":{"rendered":"https:\/\/precoinnews.com\/?p=139444"},"modified":"2021-09-22T06:30:14","modified_gmt":"2021-09-22T06:30:14","slug":"ta-ethereum-topside-bias-vulnerable-if-it-struggles-below-3k","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-topside-bias-vulnerable-if-it-struggles-below-3k\/","title":{"rendered":"TA: Ethereum Topside Bias Vulnerable If It Struggles Below $3K"},"content":{"rendered":"<p><em>Ethereum settled below the $3,000 support zone against the US Dollar. ETH price could resume its decline unless there is a clear break above the $3,000 resistance zone.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh decline below the $3,100 and $3,000 support levels.<\/li>\n<li>The price is now trading below $3,000 and the 100 hourly simple moving average.<\/li>\n<li>There is a major bearish trend line forming with resistance near $3,000 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could resume its decline unless there is a clear break above the $3,000 resistance zone.<\/li>\n<\/ul>\n<h2>Ethereum Price Remains At Risk<\/h2>\n<p>Ethereum started another decline from the $3,100 resistance zone. ETH traded below many important support zones near $3,000 and the 100 hourly simple moving average, similar to bitcoin.<\/p>\n<p>The price even broke the $2,800 support level to move further into a bearish zone. A low is formed near $2,651 and the price is now correcting losses. There was a break above the $2,800 and $2,850 resistance levels.<\/p>\n<p>The price recovered above the 23.6% Fib retracement level of the recent drop from the $3,105 swing high to $2,651 low. An immediate resistance on the upside is near the $2,880 level. There is also a major bearish trend line forming with resistance near $3,000 on the hourly chart of ETH\/USD.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/09\/Ethereum-12.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The trend line is close to the 50% Fib retracement level of the recent drop from the $3,105 swing high to $2,651 low. A close above the $3,000 resistance could start a decent recovery. The next major resistance might be near the $3,105 level. A clear break and close above the $3,105 level could start a steady increase. The next major resistance sits near $3,135 and the 100 hourly SMA.<\/p>\n<h2>More Losses in ETH?<\/h2>\n<p>If ethereum fails to correct higher above the $2,880 and $3,000 resistance levels, it could start another decline. An initial support on the downside is near the $2,800 level.<\/p>\n<p>The next major support seems to be forming near the $2,650 level. A downside break below the $2,650 support zone could lead the price towards the $2,550 zone. The next major support is near the $2,500 level, below which ether price might decline towards the $2,420 support zone.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly losing pace in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is still below the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,650<\/p>\n<p>Major Resistance Level \u2013 $3,000<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-struggles-below-3k\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum settled below the $3,000 support zone<\/p>\n","protected":false},"author":3,"featured_media":139443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TA: Ethereum Topside Bias Vulnerable If It Struggles Below $3K - 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