Bittime - ETH price is declining below $3,550 against the US Dollar. ETH/USD remains at risk of more downside below the $3,300 support zone. This of course makes traders or investors have to make careful steps because price movements are not easy to predict!
Ethereum Price Analysis
In the last few days, Ethereum started a decent increase above the $3,450 resistance zone against the US Dollar. ETH price rose above the $3,500 and $3,550 resistance levels. Finally, it tested the $3,680 resistance zone. A high was formed near $3,681 before any downside correction. There is a move below the $3,550 support zone. The price even traded below the 50% Fib retracement level of the upward wave from the $3,057 swing low to $3,680 high.
There was also a breach below the main bullish trend line with support at $3,535 on the 4-hour chart. ETH is now trading below $3,550 and the 55 simple moving average (4-hours).
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ETH Price Prediction
On the upside, the price is now facing resistance near the $3,500 level. The first major resistance is near the $3,550 level. The next major resistance is near the $3,680 zone. A clear move above the $3,650 and $3,680 resistance levels may require a fresh move to $3,880.
Further upside may even push the price towards the $4,000 or even $4,100 resistance zone in the near term. On the downside, initial support is near the $3,300 level and the 61.8% Fib retracement level of the upward wave from the $3,057 swing low to $3,680 high.
The next major support is now near the $3,200 level. A break below the $3,200 support could push the price to $3,050. If bulls fail to protect the $3,050 support, the price could drop to $2,880. Looking at the chart, Ethereum price is clearly trading below $3,550 and the 55 simple moving average (4-hours). Overall, Ether price could continue to fall if it breaks the $3,300 support zone.
Technical Indicators
Source: livebitcoinnews.com
- 4-hour MACD - MACD for ETH/USD is now gaining momentum in the bearish zone.
- 4-hour RSI (Relative Strength Index) – The RSI for ETH/USD is now below the 50 level.
- Key Support Level - $3,300, followed by the $3,200 zone.
- Key Resistance Levels - $3,500 and $3,550.
Ethereum (ETH) Price Today
Source: Bittime.com
On April 02, 2024, the price of Ethereum (ETH) was at $3,364 per coin, down 6.88% in the last 24 hours.
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ETH Price Trend Analysis
Ethereum price has been on a rollercoaster ride in recent weeks. After hitting an all-time high above $4,000, the price has dropped below $3,550. This latest decline was driven by a combination of factors, including increasing regulatory uncertainty around cryptocurrencies and general selling pressure in the crypto asset market .
Despite the recent price decline, the long-term outlook for Ethereum remains bullish. Ethereum is one of the most mature and established blockchain platforms, and has huge potential to disrupt various industries.
Conclusion
ETH price has experienced significant volatility in recent weeks. However, the long-term outlook for Ethereum remains bullish. There are many factors that could drive ETH prices higher in the future, including the development of Ethereum 2.0, institutional adoption, demand for DApps, and the growth of the cryptocurrency market as a whole.
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How to Buy Ethereum (ETH) on Bittime
You can buy and sell Ethereum (ETH) in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
Ethereum (ETH) is available on Bittime with the market pair ETH/IDR .To be able to buy ETH/IDR at Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn the complete guide on how to buy Ethereum (ETH) on Bittime.
Monitor price chart movements for Ethereum (ETH), Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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