{"id":26786,"date":"2024-08-15T23:00:15","date_gmt":"2024-08-15T20:00:15","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=26786"},"modified":"2024-08-15T13:33:15","modified_gmt":"2024-08-15T10:33:15","slug":"ethereum-struggles-to-break-2750-resistance","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ethereum-struggles-to-break-2750-resistance\/","title":{"rendered":"Ethereum Struggles to Break $2,750 Resistance, Faces Potential Downside Risks"},"content":{"rendered":"

Although Ethereum<\/strong>‘s price recently aimed to exceed the $2,750<\/strong> barrier, it lacked impetus and thus caused a fresh dip. Right now ETH<\/strong> is trading near to $2,600, which is strengthening its position and showing signs of likely more decline.<\/p>\n

Ethereum Faces Resistance and Potential Downside<\/h3>\n

Starting from the $2,650 support zone, Ethereum<\/strong> began a little climb that temporarily outpaced Bitcoin over the $2,720 resistance level. Strong resistance around the $2,750 level, however, blocked further development; the price peaked at $2,763 before a corrective decline began.<\/p>\n

In this change ETH<\/strong> fell below the limits of $2,720 and $2,700. Further dampening the short-term forecast was a significant contracting triangle with support around $2,695 on the ETH\/USD hourly chart shattered. Right present, Ethereum is trading below $2,700 and the 100-hour Simple Moving Average; its low happened at $2,635.<\/p>\n

To enable a probable upward advance, ETH<\/strong> would have to surpass first resistance at the $2,700 level, which corresponds with the 50% Fibonacci retrace of the current drop from $2,763 to $2,615. Should the price be able to above $2,735, it would target the levels of $2,65 and $2,800 resistance. A decent breakthrough above $2,800 may send ETH into the $2,880 zone.<\/p>\n

However, the negative effects become more evident should Ethereum<\/strong> fail to overcome the $2,700 barrier. There is mostly support at $2,600; instant assistance arrives at $2,615. A determined move below $2,600 might lead to further decline close to $2,550 or maybe $2,520. Should bearish momentum go on, $2,440 would be the next main support level below this zone.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i>Telegram, <\/span><\/i><\/a>YouTube<\/span><\/i><\/a>, and <\/span><\/i>Twitter<\/span><\/i><\/a> channels for the latest <\/span><\/i>news<\/span><\/i><\/a> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"

Although Ethereum‘s price recently aimed to exceed the $2,750 barrier, it lacked impetus and thus caused a fresh dip. Right now ETH is trading near to $2,600, which is strengthening its position and showing signs of likely more decline. Ethereum Faces Resistance and Potential Downside Starting from the $2,650 support zone, Ethereum began a little<\/p>\n","protected":false},"author":6,"featured_media":19176,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,657],"tags":[106,105,1032],"class_list":["post-26786","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coin-analysis","category-en","tag-eth","tag-ethereum","tag-ethereum-analysis"],"yoast_head":"\nEthereum Struggles to Break $2,750 Resistance, Faces Potential Downside Risks - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ethereum-struggles-to-break-2750-resistance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Struggles to Break $2,750 Resistance, Faces Potential Downside Risks - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Although Ethereum‘s price recently aimed to exceed the $2,750 barrier, it lacked impetus and thus caused a fresh dip. 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