NEW DELHI (CoinChapter.com) — Ethereum (ETH) is struggling to start a strong uptrend. It declined over 20% and is now consolidating losses above the $2,000 support.
CoinChapter provides key takeaways on Ethereum’s technical analysis. After declining over 20%, ETH is now consolidating losses above the $2,000 support.
Key Takeaways
Ethereum price declined below the $2,800 and $2,480 support levels.
There was a medium-term bearish move as ETH dragged BTC, XRP, and many other cryptocurrencies lower.
The price even declined below the 50% Fib retracement level of the main move from the $881 swing low to the $4,084 high.
Bears managed to push the price below the $2,250 support zone and the 50-week simple moving average (blue).
Ethereum tested the $2,000 support zone and the last three weekly candles suggest a major setback for the bulls.
After declining over 20% in the past few sessions, Ethereum is now consolidating losses above the $2,000 support.
ETH price faced a massive sell-off in the past few sessions. It declined below the $2,800 and $2,480 support levels to enter a medium-term bearish zone. There was a decline below the 50% Fib retracement level of the main move from the $881 swing low to the $4,084 high. The bears even managed to push the price below the $2,250 support zone and the 50-week simple moving average (blue).
Now, the price is testing the $2,000 support zone. If the bears manage to push the price below this support and close the week below it, we could see a strong bearish move. In the stated case, the price might decline toward the $1,650 region.
On the upside, Ethereum might start a consolidation phase above the $2,000 support and later start a recovery wave. Immediate resistance is near the $2,450 level. The first major resistance is $2,600 and the 50-week simple moving average (blue).
The main resistance is now forming near the $2,800 zone. If the price clears the $2,800 resistance, it could gain pace and rise toward the $3,000 resistance. The next key resistance might be $3,150. A close above the $3,150 level could open the doors for a fresh test of the $3,550 hurdle.
The above is the detailed content of Ethereum (ETH) Price Dives To $2,000, Struggles To Start A Strong Uptrend. For more information, please follow other related articles on the PHP Chinese website!

The pending signal, if confirmed, would imply a challenging time ahead, according to analysis by Fairlead Strategies.

The Dogecoin price continues to make waves in the crypto market, with the bulls targeting a rapid price surge to $0.3.

Dogecoin is testing a critical liquidity area around $0.112 after experiencing days of choppy price action.

Bitcoin price extended its downside correction below the $66,500 level. There was a move below the $66,000 and $65,500 levels. The price even tested the $65,200 support zone.

Ethereum price surged on Wednesday as investors reacted to Donald Trump's election and the potential policy changes that are coming up. ETH surged to a high of $2,600, its highest point since Oct. 31.

Yeti Ouro (YETIO) is quickly emerging as the next big memecoin blending the fun of meme culture with real utility. The token powers the upcoming Yeti Go, a Play-to-Earn (P2E) racing game being developed on Unreal Engine.

Optimism (OP) crypto, the Layer-2 network built on the Ethereum blockchain, has shown a bounce this week, revealing accumulation.

In the past 4 days, the Telegram coin Notcoin (NOT) price has advanced more than 40%. It occurred from a lower border of the declining wedge

Hot AI Tools

Undresser.AI Undress
AI-powered app for creating realistic nude photos

AI Clothes Remover
Online AI tool for removing clothes from photos.

Undress AI Tool
Undress images for free

Clothoff.io
AI clothes remover

AI Hentai Generator
Generate AI Hentai for free.

Hot Article

Hot Tools

WebStorm Mac version
Useful JavaScript development tools

DVWA
Damn Vulnerable Web App (DVWA) is a PHP/MySQL web application that is very vulnerable. Its main goals are to be an aid for security professionals to test their skills and tools in a legal environment, to help web developers better understand the process of securing web applications, and to help teachers/students teach/learn in a classroom environment Web application security. The goal of DVWA is to practice some of the most common web vulnerabilities through a simple and straightforward interface, with varying degrees of difficulty. Please note that this software

Zend Studio 13.0.1
Powerful PHP integrated development environment

Dreamweaver Mac version
Visual web development tools

Notepad++7.3.1
Easy-to-use and free code editor
