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Ethereum Faces Renewed Pressure — More Losses Possible If Trend Persists
Ethereum price started a fresh decline below $3,850. ETH is moving lower below $3,800 and might decline further if it trades below $3,680. Ethereum started another bearish wave after it failed to clear $3,920. The price is trading below $3,800 and the 100-hourly Simple Moving Average. There was a break below a rising channel with support at $3,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below $3,680. Ethereum Price Dips Again Ethereum price failed to stay in a positive zone and started a fresh decline, like Bitcoin. ETH price declined below $3,880 and $3,850 to enter a bearish zone. There was a clear move below the 61.8% Fib retracement level of the upward move from the $3,678 swing low to the $3,916 high. Besides, there was a break below a rising channel with support at $3,840 on the hourly chart of ETH/USD. Ethereum price is now trading below $3,800 and the 100-hourly Simple Moving Average. The current price action is bearish below the 76.4% Fib retracement level of the upward move from the $3,678 swing low to the $3,916 high. If there is another increase, the price could face resistance near the $3,840 level. The next key resistance is near the $3,860 level and the 100-hourly Simple Moving Average. The first major resistance is near the $3,920 level. A clear move above the $3,920 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,120 resistance zone or even $4,200 in the near term. More Losses In ETH? If Ethereum fails to clear the $3,840 resistance, it could start a fresh decline. Initial support on the downside is near the $3,680 level. The first major support sits near the $3,650 zone. A clear move below the $3,650 support might push the price toward the $3,550 support. Any more losses might send the price toward the $3,500 region in the near term. The next key support sits at $3,450 and $3,440. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,680 Major Resistance Level – $3,840
Bitcoin Breaks Down Again — Bearish Momentum Intensifies Across Crypto Market
Bitcoin price is again declining below $110,000. BTC could continue to move down if it stays below the $110,000 resistance. Bitcoin started a fresh decline below the $109,500 support. The price is trading below $109,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $109,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move down if it trades below the $107,400 zone. Bitcoin Price Faces Rejection Bitcoin price failed to stay above the $110,500 pivot level and started a fresh decline. BTC dipped below $110,000 and $109,500 to enter a bearish zone. The decline was such that the price traded below the 50% Fib retracement level of the upward move from the $106,312 swing low to the $111,000 high. Besides, there is a bearish trend line forming with resistance at $109,800 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $109,000 and the 100 hourly Simple moving average. If the bulls attempt a fresh increase, the price could face resistance near the $109,500 level. The first key resistance is near the $109,800 level and the trend line. The next resistance could be $110,500. A close above the $110,500 resistance might send the price further higher. In the stated case, the price could rise and test the $111,200 resistance. Any more gains might send the price toward the $113,500 level. The next barrier for the bulls could be $115,000 and $115,500. More Losses In BTC? If Bitcoin fails to rise above the $109,800 resistance zone, it could continue to move down. Immediate support is near the $107,400 level or the 76.4% Fib retracement level of the upward move from the $106,312 swing low to the $111,000 high. The first major support is near the $106,500 level. The next support is now near the $105,500 zone. Any more losses might send the price toward the $104,200 support in the near term. The main support sits at $103,500, below which BTC might struggle to recover in the short term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $107,400, followed by $106,500. Major Resistance Levels – $109,800 and $110,500.
Ethereum Faces Renewed Pressure — More Losses Possible If Trend Persists
Ethereum price started a fresh decline below $3,850. ETH is moving lower below $3,800 and might decline further if it trades below $3,680. Ethereum started another bearish wave after it failed to clear $3,920. The price is trading below $3,800 and the 100-hourly Simple Moving Average. There was a break below a rising channel with support at $3,840 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if it trades below $3,680. Ethereum Price Dips Again Ethereum price failed to stay in a positive zone and started a fresh decline, like Bitcoin. ETH price declined below $3,880 and $3,850 to enter a bearish zone. There was a clear move below the 61.8% Fib retracement level of the upward move from the $3,678 swing low to the $3,916 high. Besides, there was a break below a rising channel with support at $3,840 on the hourly chart of ETH/USD. Ethereum price is now trading below $3,800 and the 100-hourly Simple Moving Average. The current price action is bearish below the 76.4% Fib retracement level of the upward move from the $3,678 swing low to the $3,916 high. If there is another increase, the price could face resistance near the $3,840 level. The next key resistance is near the $3,860 level and the 100-hourly Simple Moving Average. The first major resistance is near the $3,920 level. A clear move above the $3,920 resistance might send the price toward the $4,000 resistance. An upside break above the $4,000 region might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,120 resistance zone or even $4,200 in the near term. More Losses In ETH? If Ethereum fails to clear the $3,840 resistance, it could start a fresh decline. Initial support on the downside is near the $3,680 level. The first major support sits near the $3,650 zone. A clear move below the $3,650 support might push the price toward the $3,550 support. Any more losses might send the price toward the $3,500 region in the near term. The next key support sits at $3,450 and $3,440. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $3,680 Major Resistance Level – $3,840
Bitcoin Breaks Down Again — Bearish Momentum Intensifies Across Crypto Market
Bitcoin price is again declining below $110,000. BTC could continue to move down if it stays below the $110,000 resistance. Bitcoin started a fresh decline below the $109,500 support. The price is trading below $109,000 and the 100 hourly Simple moving average. There is a bearish trend line forming with resistance at $109,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move down if it trades below the $107,400 zone. Bitcoin Price Faces Rejection Bitcoin price failed to stay above the $110,500 pivot level and started a fresh decline. BTC dipped below $110,000 and $109,500 to enter a bearish zone. The decline was such that the price traded below the 50% Fib retracement level of the upward move from the $106,312 swing low to the $111,000 high. Besides, there is a bearish trend line forming with resistance at $109,800 on the hourly chart of the BTC/USD pair. Bitcoin is now trading below $109,000 and the 100 hourly Simple moving average. If the bulls attempt a fresh increase, the price could face resistance near the $109,500 level. The first key resistance is near the $109,800 level and the trend line. The next resistance could be $110,500. A close above the $110,500 resistance might send the price further higher. In the stated case, the price could rise and test the $111,200 resistance. Any more gains might send the price toward the $113,500 level. The next barrier for the bulls could be $115,000 and $115,500. More Losses In BTC? If Bitcoin fails to rise above the $109,800 resistance zone, it could continue to move down. Immediate support is near the $107,400 level or the 76.4% Fib retracement level of the upward move from the $106,312 swing low to the $111,000 high. The first major support is near the $106,500 level. The next support is now near the $105,500 zone. Any more losses might send the price toward the $104,200 support in the near term. The main support sits at $103,500, below which BTC might struggle to recover in the short term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level. Major Support Levels – $107,400, followed by $106,500. Major Resistance Levels – $109,800 and $110,500.