Ethereum Still Threatening to Fall to $ 3,000: Price Analysis

Ethereum is still at risk of falling to $ 3,000 as it is struggling to move higher so it is moving down and could continue to fall below that support as we can see more in the future. Our latest Ethereum news today.

Ethereum remained at risk, struggling to climb above $ 3500 against the US dollar and failed to break above $ 3450, initiating another decline. The price is currently trading below the USD 3400 level and the 100 hour simple moving average and a major downtrend line is forming with resistance near USD 3400 on the hourly chart of ETH / USD. The pair can extend the decline if there is another break below the USD 3,200 support area. ETH struggled to break the USD 3450 resistance and failed to hold above the simple 100 hour average, but a new high was formed near USD 3450 and the price began a new decline similar to BTC. There was even a break below the $ 3350 level and the $ 3250 support as ETH trades below the 50% retracement of the 50% retracement of the $ 3148 move and swings all the way to $ 3450.

It is currently trading below the $ 3400 level and 100-hour simple moving average, but a large bearish trendline is also forming with resistance near $ 3400 on the pair’s hourly chart. It is also currently trading below $ 3,400 above the 100-hour simple moving average and immediate resistance to the upside is near the $ 3,320 level. The first major resistance remains near the USD 3380 level, where appropriate move above that level could propel the coin higher.

The next major resistance is at $ 3500, but if ETH does not stay above the $ 3400 resistance it could usher in a new downward move and the immediate support will see a decline near the $ 3220 level and the high is also near the level of $ 3,220. Another break below these supports could push the price down. A fresh downside break below the $ 3,220 level and the $ 3,200 support may push the price down even further, with the next big support forming near the $ 3,150 region below which the ether price is could fall back to the $ 3,000 level.

As recently reported, the average cost of a transaction at ETH is currently $ 12.2, according to Etherscan. Pay-per-transaction and most network burn fees can increase depending on the time of day as the average transaction fee was $ 29 according to BitInfoCharts yesterday. This is a significant drop from the $ 59 average on September 11th four days ago, and the $ 59 high is the highest for a single transaction on Ethereum since May 19, when the fees

.