#比特币市场波动观察
Ethereum Plunge Warning! Will the price hit new lows?
The price of Ethereum has dropped again, now below $3550. It looks like it will continue to fall, possibly breaking below $3150.
The price has fallen below $3500 and has broken the 100-hour simple moving average. A bearish trend line has appeared on the hourly chart of ETH/USD, with resistance at $3420.
If this currency pair cannot hold above $3550, it will continue to drop.
The price of Ethereum just can't get above $3550, just like Bitcoin, both are falling. ETH has dropped below $3450 and is now even trading below $3300.
It has also fallen below $3220, hitting a low of $3100. The price is currently retracing, but the closing price is still below the 50% Fibonacci retracement level of the increase from $3100 to $3553.
Now the price of Ethereum is below $3500 and the 100-hour simple moving average. On the hourly chart of ETH/USD, there is also a key bearish trend line, with resistance at $3420.
This currency pair is now testing the 76.4% Fibonacci retracement level of the increase from $3100 to $3553. If it goes up, it may encounter resistance around $3350, with the first significant resistance level at $3400.
The main resistance level is now at $3420. If it can break through this resistance, the price may rise to $3500, and further, it could reach $3550 or even $3650 within a few trading days.
If Ethereum cannot break through the resistance level of $3420, it will continue to fall. The first support level is at $3200, and below that, the main support level is at $3120.
If it breaks below $3120, the price may drop to $3050, and further, in the short term, it may fall to $3000, with the next significant support level at $2880.
Technical indicators show:
Hourly MACD - The MACD for ETH/USD is in the bearish zone.
Hourly RSI - The RSI for ETH/USD is currently below 50.
Main support level - $3120
Main resistance level - $3420
For the upcoming layout direction, I will guide everyone to aim for the lucrative opportunities in altcoins, especially those with high potential projects, expecting a space of more than 10 times is not a problem. If you want to make big money in the bull market, like + comment, and I will take you to layout the entire bull market!
