Fluctuations in Ethereum Price and Critical Levels

The price of Ethereum (ETH) has experienced a significant drop to $2,852 in recent times, but quickly recovered to rise above $3,000. Currently trading around $3,200, ETH is facing resistance below $3,250 and the 100-hour Simple Moving Average. A rising channel has formed with a resistance near $3,200 in the ETH/USD pair. Signs of Ethereum’s Recovery The recent decline in the Ethereum price started from the $3,550 resistance level with a drop of over 10% to below $3,000. However, with a recovery wave supported by Bitcoin, the price rose above the $2,800 and $3,000 resistance levels. Rising Channel and Resistance Levels In the ETH/USD pair, a rising channel has formed with a $3,200 resistance level and the first major resistance at $3,250. A break above the $3,300 resistance could lead to a rise towards $3,360. If the key resistance of $3,500 is surpassed, levels of $3,620 and $3,750 may be […]

Fluctuations in Ethereum Price and Critical Levels

The price of Ethereum (ETH) has experienced a significant drop to $2,852 in recent times, but quickly recovered to rise above $3,000. Currently trading around $3,200, ETH is facing resistance below $3,250 and the 100-hour Simple Moving Average. A rising channel has formed with a resistance near $3,200 in the ETH/USD pair.

Signs of Ethereum’s Recovery

The recent decline in the Ethereum price started from the $3,550 resistance level with a drop of over 10% to below $3,000. However, with a recovery wave supported by Bitcoin, the price rose above the $2,800 and $3,000 resistance levels.

Rising Channel and Resistance Levels

In the ETH/USD pair, a rising channel has formed with a $3,200 resistance level and the first major resistance at $3,250. A break above the $3,300 resistance could lead to a rise towards $3,360. If the key resistance of $3,500 is surpassed, levels of $3,620 and $3,750 may be targeted.

Critical Support and Resistance Levels for Ethereum

If Ethereum fails to surpass the $3,250 resistance, a new decline may begin. The first support level is seen at $3,080. A more significant decline could make the support below $3,000 critical, and a drop below the $2,880 support level could trigger a decline to $2,750 or even $2,550.

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