The price of Ethereum is going down. Will it go back up?

Ethereum had a hard time breaking through the $3,220 barrier. It's getting closer to $3,060 for ETH.

Ethereum is getting stronger and is facing $3,200 problems.

The 100-hour SMA costs less than $3,120.

The ETH/USD hourly chart shows a trend line that points up, with $3,070 acting as support.

The pair may go up again if it breaks the $3,120 mark.
Ethereum Price Going Down Another attempt to break the $3,220 limit failed for Ethereum, but not for Bitcoin. ETH fell again below $3,150 and $3,120.

The price fell below $3,100 and hit $3,070. Since it hit a low of $3,069, the price is now stable. After the most recent drop from the $3,224 swing high to the $3,069 low, it tested the 23.6% Fib retracement of that drop.

With the 100-hour SMA behind it, Ethereum has dropped below $3,120. On the other hand, the ETH/USD hourly chart shows a rising trend line with support at $3,070.

On the way up, the price might run into trouble at $3,120. This drop from the swing high of $3,224 to the low of $3,069 was a 50% Fib retracement level, which is the first big obstacle. The main resistance is around $3,220.

If the price breaks clearly above $3,220, it could go above $3,350. If the price goes above $3,350, it could mean bigger gains in the next sessions. Ether could go through the roof above the $3,500 mark.

More losses in ETH?
If Ethereum can't break $3,150, it might go down again. The trend line, which is $3,060, is the first point of downward support. The first big gift is about $3,000 in value.

If the price really falls below $3,000, it could go below $2,880. If the price keeps going down, it may hit support at $2,740. The next important stop is $2,650.

Signs of Tech

For ETH/USD, the negative MACD is getting bigger.

RSI for one hour shows that ETH/USD is less than 50.

A lot of help: $3,060

The main obstacle is $3,150.

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