Ethereum extended losses below the $3,300 support zone against the US Dollar. ETH price even traded below $3,200 and might continue to move down.<\/em><\/p>\n

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Ethereum started a major decline from the $3,450 resistance zone.<\/li>\n
The price is now trading below $3,200 and the 100 hourly simple moving average.<\/li>\n
There is a key bearish trend line forming with resistance near $3,425 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n
The pair remains at a risk of more losses below the $3,140 and $3,120 levels.<\/li>\n<\/ul>\n
Ethereum Price Extends Downsides<\/h2>\n
Ethereum formed a top and started a major decline<\/a> below the $3,400 level. ETH even traded below the $3,340 level to move further into a bearish zone.<\/p>\n
The bears gained pace for a move below the $3,300 level and the 100 hourly simple moving average. Ether even spiked below the $3,200 level and traded as low as $3,143. It is now consolidating above the $3,150 level. It is trading below $3,200 and the 100 hourly simple moving average<\/a>.<\/p>\n
On the upside, an initial resistance is seen near the $3,240 level. It is close to the 23.6% Fib retracement level of the recent decline from the $3,548 swing high to $3,143 low.<\/p>\n
The next major resistance is near the $3,345 level. It coincides with the 50% Fib retracement level of the recent decline from the $3,548 swing high to $3,143 low. The main resistance is now forming near the $3,400 level. There is also a key bearish trend line forming with resistance near $3,425 on the hourly chart of ETH\/USD.<\/p>\n
$\"Ethereum$ <\/a><\/p>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
If ether price clears the $3,400 resistance zone, it could start a decent increase. In the stated case, the price could climb above the $3,450 zone. The next key barrier is near the $3,500 level.<\/p>\n
More Losses in ETH?<\/h2>\n
If ethereum fails to start a fresh increase above the $3,400 level, it could continue to move down. An initial support on the downside is near the $3,140 zone.<\/p>\n
The next major support is near the $3,120 level. If there is a downside break below the $3,120 support, the price could gain bearish momentum. In the stated case, there is a risk of a move towards the $3,000 level.<\/p>\n
Technical Indicators<\/p>\n
Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is now gaining pace in the bearish zone.<\/p>\n
Hourly RSI \u2013 <\/strong>The RSI for ETH\/USD is now below the 50 level.<\/p>\n
Major Support Level \u2013 $3,120<\/p>\n
Major Resistance Level \u2013 $3,400<\/p>\n<\/div>\n

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Ethereum extended losses below the $3,300 support zone against the US Dollar. ETH price even traded below $3,200 and might continue to move down. Ethereum started a major decline from the $3,450 resistance zone. The price is now trading below $3,200 and the 100 hourly simple moving average. There is a key bearish trend line […]<\/p>\n","protected":false},"author":1,"featured_media":22860,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[30],"tags":[186,2219,180,44,185,187],"class_list":{"0":"post-22859","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-market","8":"tag-bias","9":"tag-dives","10":"tag-eth","11":"tag-ethereum","12":"tag-topside","13":"tag-vulnerable"},"_links":{"self":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/22859","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/comments?post=22859"}],"version-history":[{"count":0,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/posts\/22859\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media\/22860"}],"wp:attachment":[{"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/media?parent=22859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/categories?post=22859"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptocurrencypanther.com\/wp-json\/wp\/v2\/tags?post=22859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}