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  • Home
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  • Ethereum Dip: Will the Slide End or Is ETH on a Rollercoaster? 🎢
Ethereum Dip: Will the Slide End or Is ETH on a Rollercoaster? 🎢

Ethereum Dip: Will the Slide End or Is ETH on a Rollercoaster? 🎢

Key Highlights 🌟

🔹 Ethereum price plunges below $3,880 and the 100-hourly Simple Moving Average, sparking concerns among investors
🔹 A bearish trend line emerges with resistance at $3,800 on the hourly chart of ETH/USD
🔹 The crypto pair may continue downward if the $3,720 support level is breached

Ethereum Price Dips Further 📉

As with Bitcoin, Ethereum witnessed a downward correction below the critical $3,880 support level. The price slumped below $3,850 and $3,800, entering a short-term bearish territory.

A significant move was seen below the 50% Fibonacci retracement level of the recent upward surge from $3,630 to $3,974. Further, ETH dipped beneath $3,780, with bearish pressure mounting towards the $3,720 support region.

Currently, Ethereum is trading under $3,800 and the 100-hourly Simple Moving Average. Any potential climb may face resistance near $3,800, while a bearish trend line with a barrier at $3,800 on the hourly ETH/USD chart remains a key obstacle.

The primary resistance is positioned near $3,840, and a breakthrough above this level could bolster the price. Subsequently, the next hurdle lies at $3,900, beyond which an uptrend may push Ether towards $3,940. Surpassing $3,940 could pave the way for a test of the formidable $4,000 barrier, potentially guiding ETH towards $4,080.

More Losses In ETH? 📉

Should Ethereum fail to surpass the $3,800 barrier, a continuation of downward momentum can be expected. Initial support is predicted near $3,720 or the 76.4% Fibonacci retracement level calculated from the recent low of $3,630 to the high of $3,974.

Subsequently, a key support zone is identified around $3,625. Breaching this level might propel the price towards $3,550, leading to further decline towards $3,500 in the short term.

Technical Indicators 📊

Hourly MACD – Showing an uptick in bearish momentum for ETH/USD
Hourly RSI – Positioned below the 50 threshold for ETH/USD

Major Support Level – $3,720
Major Resistance Level – $3,800

Read Disclaimer
This content is aimed at sharing knowledge, it's not a direct proposal to transact, nor a prompt to engage in offers. Lolacoin.org doesn't provide expert advice regarding finance, tax, or legal matters. Caveat emptor applies when you utilize any products, services, or materials described in this post. In every interpretation of the law, either directly or by virtue of any negligence, neither our team nor the poster bears responsibility for any detriment or loss resulting. Dive into the details on Critical Disclaimers and Risk Disclosures.

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Ethereum Dip: Will the Slide End or Is ETH on a Rollercoaster? 🎢