Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

NewsBTC 2022-03-03 05:28:36

TA: Ethereum Prints Bearish Pattern, Why It Could Correct To $2.8K

Ethereum failed to surpass $3,050 and corrected lower against the US Dollar. ETH price is declining and might test the $2,800 support zone in the near term. Ethereum failed to continue higher above $3,040 and started a downside correction. The price is now trading above $2,880 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,960 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend decline towards the $2,800 support if it breaks the 100 hourly SMA. Ethereum Price Corrects Lower Ethereum was able to surpass the $3,000 resistance level. However, ETH failed to gain momentum above the $3,040 level. A high was formed near $3,042 and the price started a downside correction. There was a move below the $3,000 and $2,950 levels. Besides, there was a break below a key bullish trend line with support near $2,960 on the hourly chart of ETH/USD. The pair traded below the 23.6% Fib retracement level of the recent wave from the $2,560 swing low to $3,042 high. It is now trading above $2,880 and the 100 hourly simple moving average. On the upside, ether price is facing resistance near the $2,930 level. Source: ETHUSD on TradingView.com The first major resistance is seen near the $2,950 and $2,960 levels. The main resistance is still near the $3,000 and $3,050 levels. A clear move above the $3,050 level might open the doors for a steady increase. In the state...

freebitcoin
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.