ETH stops climbing at $3,200, which is the key support to watch
ETH failed to break the key level at $3,200 and now the price appears to be correcting. Here is the closest support to consider.
- Major support levels: $3,000, $2,805
- Key resistance levels: $3,200, $3,400
ETH’s rally yesterday came to an abrupt end when the price failed to break above $3,200. Now the cryptocurrency is falling back to the $3,000 support. If this level fails to prevent a correction, will have nice support at $2,800.
Source: TradingView
Technical indicators
Volume: Today’s trading volume is disappointing and almost four times lower than yesterday when ETH price surged 9%.
RSI: The daily RSI has made a lower high and is declining.
MACD: The daily MACD is still bullish but is sharing the same pattern as the RSI, causing it to form a lower high on the histogram.
Source: TradingView
Perspectives
The current trend of ETH is neutral. The price seems stuck between two key levels – the $3,400 resistance and the $2,800 support.
Short term price prediction
If ETH stops the correction at $3,000, the price has a good chance to resume the uptrend and challenge the key resistance. Otherwise, a failure to hold this support could send ETH back towards $2,800 where the bulls are operating.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Author
Analysis
ETH stops climbing at $3,200, which is the key support to watch
ETH failed to break the key level at $3,200 and now the price appears to be correcting. Here is the closest support to consider.
- Major support levels: $3,000, $2,805
- Key resistance levels: $3,200, $3,400
ETH’s rally yesterday came to an abrupt end when the price failed to break above $3,200. Now the cryptocurrency is falling back to the $3,000 support. If this level fails to prevent a correction, will have nice support at $2,800.
Source: TradingView
Technical indicators
Volume: Today’s trading volume is disappointing and almost four times lower than yesterday when ETH price surged 9%.
RSI: The daily RSI has made a lower high and is declining.
MACD: The daily MACD is still bullish but is sharing the same pattern as the RSI, causing it to form a lower high on the histogram.
Source: TradingView
Perspectives
The current trend of ETH is neutral. The price seems stuck between two key levels – the $3,400 resistance and the $2,800 support.
Short term price prediction
If ETH stops the correction at $3,000, the price has a good chance to resume the uptrend and challenge the key resistance. Otherwise, a failure to hold this support could send ETH back towards $2,800 where the bulls are operating.
Disclaimer: This article is for informational purposes only, not investment advice. Investors should research carefully before making a decision. We are not responsible for your investment decisions.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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