Latest News

The price of Ethereum has dropped below the $3000 threshold

Against the US Dollar, ethereum has recently seen a significant bearish move from well above the $3,000 barrier. The price of ETH has been trading below the $2,950 support level and the 55 simple moving average (4-hours).

On the 4-hours chart, there was a break below a significant bullish trend line with support near $2,930. The bears gained strength in preparation for a move below $2,800. Ethereum price has now fallen below the $2,675 support level and is approaching the $2,500 level.

The next major support level for Ethereum is now approaching $2,480. If the price falls below the $2,480 support level, it could drop below $2,350. Any further losses could push Ethereum price up to $2,340. The bulls may take a stand near $2,100, which is the next big support level.

On the upside, Ethereum $2,600 price level, or the 23.6 percent Fib retracement level of the current slide from the $3,199 swing high to the $2,512 swing low, is proving to be resistance.

Near the $2,855 level and the 55 simple moving average, the first major resistance is building (4-hours). It’s approaching the 50% Fib retracement level of the latest drop from the $3,199 swing high to the $2,512 swing low. A close above $2,855 could signal the start of a new upward trend. The bulls’ next major roadblock could be near the $3,000 mark.

The price of Ethereum is obviously trading below the $3,050 zone and the 55 simple moving average on the chart (4-hours). Overall, if the price of ether does not stay above the $2,480 support zone, it may continue to fall.

Related Posts – Ferrari joins the NFT universe through a collaboration with a Swiss…

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.