{"id":140240,"date":"2021-09-30T07:29:18","date_gmt":"2021-09-30T07:29:18","guid":{"rendered":"https:\/\/precoinnews.com\/?p=140240"},"modified":"2021-09-30T07:29:18","modified_gmt":"2021-09-30T07:29:18","slug":"ta-ethereum-just-reversed-but-3150-presents-a-major-challenge","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/ta-ethereum-just-reversed-but-3150-presents-a-major-challenge\/","title":{"rendered":"TA: Ethereum Just Reversed But $3,150 Presents A Major Challenge"},"content":{"rendered":"<p><em>Ethereum started a fresh increase from the $2,750-2,780 support zone against the US Dollar. ETH price could revisit the main $3,150 resistance zone in the near term.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh increase above $3,000 after testing the $2,780 zone.<\/li>\n<li>The price is now trading above $3,000 and the 100 hourly simple moving average.<\/li>\n<li>There was a break above a key bearish trend line with resistance near $2,910 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could rise towards the main $3,150 and $3,165 resistance levels in the near term.<\/li>\n<\/ul>\n<h2>Ethereum Price Gains Traction<\/h2>\n<p>Ethereum remained strong near $2,780 and started a fresh increase, similar to bitcoin. ETH was able to clear the $2,880 and $2,950 resistance levels to enter a positive zone.<\/p>\n<p>There was a break above a key bearish trend line with resistance near $2,910 on the hourly chart of ETH\/USD. The pair surpassed the 50% Fib retracement level of the key decline from the $3,165 swing high to $2,788 low.<\/p>\n<p>Ether price is now trading above $3,000 and the 100 hourly simple moving average. It is consolidating near the $3,040 resistance level. The bears seem to be protecting the 61.8% Fib retracement level of the key decline from the $3,165 swing high to $2,788 low.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2021\/09\/Ethereum-18.png\"><\/p>\n<p>Source: ETHUSD on TradingView.com<\/p>\n<p>The first major resistance is near the $3,075 level. The main resistance is still near the $3,150 and $3,165 levels. A break above $3,150 and $3,165 could start a steady increase. The next key resistance is near $3,200, above which the price might accelerate higher.<\/p>\n<h2>Dips Limited in ETH?<\/h2>\n<p>If ethereum fails to continue higher above the $3,050 and $3,075 resistance levels, it could start a fresh downside correction. An initial support on the downside is near the $2,975 level.<\/p>\n<p>The first key support is now forming near the $2,950 level and the 100 hourly simple moving average. If ether fails to stay above $2,950, there is a risk of a larger decline. In the stated case, the price might slide towards the $2,800 level.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is well above the 50 level.<\/p>\n<p>Major Support Level \u2013 $2,950<\/p>\n<p>Major Resistance Level \u2013 $3,075<\/p>\n<p>&nbsp;<\/p>\n<p>Source: <a href=\"https:\/\/www.newsbtc.com\/analysis\/eth\/ethereum-just-reversed-3k\/\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum started a fresh increase from the<\/p>\n","protected":false},"author":3,"featured_media":140239,"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 Just Reversed But $3,150 Presents A Major Challenge - 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