{"id":2254,"date":"2025-01-08T06:00:29","date_gmt":"2025-01-08T06:00:29","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/ethereum-price-drops-back-another-test-for-support-levels\/"},"modified":"2025-01-08T06:00:29","modified_gmt":"2025-01-08T06:00:29","slug":"ethereum-price-drops-back-another-test-for-support-levels","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/ethereum-price-drops-back-another-test-for-support-levels\/","title":{"rendered":"Ethereum Price Drops Back: Another Test for Support Levels"},"content":{"rendered":"<p><em>Ethereum price failed to clear the $3,750 resistance and trimmed gains. ETH is back to $3,350 and might struggle to start a fresh increase.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh decline from the $3,750 zone.<\/li>\n<li>The price is trading below $3,550 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break below a connecting bullish trend line with support at $3,675 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could struggle to start a fresh increase above the $3,450 resistance level.<\/li>\n<\/ul>\n<h2>Ethereum Price Dips Over 8%<\/h2>\n<p>Ethereum price remained stable above the $3,650 level and extended its upward move like Bitcoin. ETH gained pace for a move above the $3,680 and $3,700 resistance levels.<\/p>\n<p>However, the bulls failed to push the price above the $3,750 resistance. A high was formed at $3,742 and the price started a fresh decline. There was a clear move below $3,650 and $3,550. There was also a break below a connecting bullish trend line with support at $3,675 on the hourly chart of ETH\/USD.<\/p>\n<p>A low was formed at $3,356 and the price is now consolidating below the 23.6% Fib retracement level of the recent decline from the $3,742 swing high to the $3,356 low.<\/p>\n<p>Ethereum price is now trading below $3,550 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $3,450 level. The first major resistance is near the $3,500 level. The main resistance is now forming near $3,550 or the 50% Fib retracement level of the recent decline from the $3,742 swing high to the $3,356 low.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-672317\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/01\/Ethereum_c3c0ba.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>A clear move above the $3,550 resistance might send the price toward the $3,650 resistance. An upside break above the $3,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $3,750 resistance zone or even $3,880 in the near term.<\/p>\n<h2>More Losses In ETH?<\/h2>\n<p>If Ethereum fails to clear the $3,450 resistance, it could start another decline. Initial support on the downside is near the $3,350 level. The first major support sits near the $3,320.<\/p>\n<p>A clear move below the $3,320 support might push the price toward the $3,250 support. Any more losses might send the price toward the $3,150 support level in the near term. The next key support sits at $3,120.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is gaining momentum in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now below the 50 zone.<\/p>\n<p>Major Support Level \u2013 $3,350<\/p>\n<p>Major Resistance Level \u2013 $3,450<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price failed to clear the $3,750 resistance and trimmed gains. ETH is back to $3,350 and might struggle to start a fresh increase. Ethereum started a fresh decline from the $3,750 zone. The price is trading below $3,550 and the 100-hourly Simple Moving Average. There was a break below a connecting bullish trend line&hellip;<\/p>\n","protected":false},"author":1,"featured_media":2255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[141],"tags":[69,153,71,72,73],"class_list":["post-2254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/2254","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=2254"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/2254\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/2255"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=2254"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=2254"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=2254"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}