BPOI Banner
Will It Find a Way Back Up? Will It Find a Way Back Up?

Will It Find a Way Back Up?


Este artículo también está disponible en español.

Ethereum price started a fresh decline from the $2,720 resistance. ETH is back below $2,550 and might struggle to start a fresh increase in the short term.

  • Ethereum started a fresh decline from the $2,720 resistance zone.
  • The price is trading below $2,550 and the 100-hourly Simple Moving Average.
  • There was a break below a key bullish trend line with support at $2,560 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could extend losses if it fails to stay above the $2,450 support zone.

Ethereum Price Dives Below $2,550

Ethereum price struggled to stay above $2,650 and started a fresh decline like Bitcoin. ETH declined heavily below the $2,620 and $2,600 levels.

There was a break below a key bullish trend line with support at $2,560 on the hourly chart of ETH/USD. The pair declined below the 50% Fib retracement level of the upward wave from the $2,488 swing low to the $2,719 high. The bears even pushed the price below $2,550.

Ethereum price is now trading below $2,550 and the 100-hourly Simple Moving Average. It is now approaching the $2,460 support zone and the 61.8% Fib retracement level of the upward wave from the $2,488 swing low to the $2,719 high.

On the upside, the price seems to be facing hurdles near the $2,550 level. The first major resistance is near the $2,580 level. The main resistance is now forming near $2,610. A clear move above the $2,610 resistance might send the price toward the $2,650 resistance.

Source: ETHUSD on TradingView.com

An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2.720 resistance zone.

More Downsides In ETH?

If Ethereum fails to clear the $2,550 resistance, it could continue to move down. Initial support on the downside is near the $2,480 level. The first major support sits near the $2,450 zone.

A clear move below the $2,450 support might push the price toward $2,380. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSIThe RSI for ETH/USD is now below the 50 zone.

Major Support Level – $2,450

Major Resistance Level – $2,550

Source link

Aayush Jindal

https://www.newsbtc.com/analysis/eth/ethereum-price-tumbles-2550/

2024-11-01 04:08:28

bitcoin
Bitcoin (BTC) $ 97,054.00 0.37%
ethereum
Ethereum (ETH) $ 3,376.57 1.01%
tether
Tether (USDT) $ 0.999836 0.00%
xrp
XRP (XRP) $ 2.26 0.47%
bnb
BNB (BNB) $ 666.25 0.53%
solana
Solana (SOL) $ 186.03 1.04%
dogecoin
Dogecoin (DOGE) $ 0.320919 1.21%
usd-coin
USDC (USDC) $ 1.00 0.04%
staked-ether
Lido Staked Ether (STETH) $ 3,369.10 0.97%
cardano
Cardano (ADA) $ 0.909977 1.42%
tron
TRON (TRX) $ 0.248198 0.48%
avalanche-2
Avalanche (AVAX) $ 38.00 2.99%
chainlink
Chainlink (LINK) $ 22.42 2.54%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,008.01 1.31%
the-open-network
Toncoin (TON) $ 5.46 1.67%
sui
Sui (SUI) $ 4.48 4.03%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 96,781.93 0.30%
shiba-inu
Shiba Inu (SHIB) $ 0.000022 1.53%
hyperliquid
Hyperliquid (HYPE) $ 33.16 0.94%
stellar
Stellar (XLM) $ 0.364984 0.10%
polkadot
Polkadot (DOT) $ 7.05 2.35%
hedera-hashgraph
Hedera (HBAR) $ 0.262533 1.14%
weth
WETH (WETH) $ 3,370.65 1.29%
bitcoin-cash
Bitcoin Cash (BCH) $ 455.90 0.16%
leo-token
LEO Token (LEO) $ 9.34 0.55%
uniswap
Uniswap (UNI) $ 13.96 3.68%
litecoin
Litecoin (LTC) $ 103.01 1.93%
pepe
Pepe (PEPE) $ 0.000018 0.29%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,557.34 1.06%
near
NEAR Protocol (NEAR) $ 5.09 2.38%
ethena-usde
Ethena USDe (USDE) $ 0.999604 0.05%
bitget-token
Bitget Token (BGB) $ 4.17 0.63%
aptos
Aptos (APT) $ 9.46 7.70%
usds
USDS (USDS) $ 1.00 0.08%
internet-computer
Internet Computer (ICP) $ 10.15 3.14%
aave
Aave (AAVE) $ 306.67 1.80%
crypto-com-chain
Cronos (CRO) $ 0.159523 1.99%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.485953 0.08%
mantle
Mantle (MNT) $ 1.18 0.76%
ethereum-classic
Ethereum Classic (ETC) $ 26.44 0.77%
vechain
VeChain (VET) $ 0.04658 0.36%
render-token
Render (RENDER) $ 7.27 1.62%
mantra-dao
MANTRA (OM) $ 3.75 3.73%
whitebit
WhiteBIT Coin (WBT) $ 24.40 0.14%
monero
Monero (XMR) $ 190.38 1.38%
bittensor
Bittensor (TAO) $ 466.98 1.60%
dai
Dai (DAI) $ 1.00 0.02%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.29 2.17%
arbitrum
Arbitrum (ARB) $ 0.762626 2.05%
ethena
Ethena (ENA) $ 1.06 6.34%