{"id":3314,"date":"2025-03-07T05:11:07","date_gmt":"2025-03-07T05:11:07","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/ethereum-price-retreats-will-it-find-support-or-drop-further\/"},"modified":"2025-03-07T05:11:07","modified_gmt":"2025-03-07T05:11:07","slug":"ethereum-price-retreats-will-it-find-support-or-drop-further","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/ethereum-price-retreats-will-it-find-support-or-drop-further\/","title":{"rendered":"Ethereum Price Retreats\u2014Will It Find Support or Drop Further?"},"content":{"rendered":"<p><em>Ethereum price failed to clear the $2,320 resistance and trimmed gains. ETH is now consolidating and facing hurdles near the $2,220 resistance.<\/em><\/p>\n<ul>\n<li>Ethereum started a fresh upward move above the $2,120 support zone.<\/li>\n<li>The price is trading below $2,220 and the 100-hourly Simple Moving Average.<\/li>\n<li>There was a break below a key rising channel with support at $2,220 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair must clear the $2,220 and $2,320 resistance levels to start a decent increase.<\/li>\n<\/ul>\n<h2>Ethereum Price Dips Again<\/h2>\n<p>Ethereum price started a decent increase from the $2,000 zone, like Bitcoin. ETH climbed above the $2,120 and $2,200 resistance levels. However, the bears were active near $2,320 and pushed the price back below $2,220.<\/p>\n<p>There was a break below a key rising channel with support at $2,220 on the hourly chart of ETH\/USD. A low was formed at $2,103 and the price is now attempting a recovery wave. There was a move above the $2,120 and $2,150 resistance levels.<\/p>\n<p>It cleared the 23.6% Fib retracement level of the downward move from the $2,319 swing high to the $2,103 low. Ethereum price is now trading below $2,220 and the 100-hourly Simple Moving Average.<\/p>\n<p>On the upside, the price seems to be facing hurdles near the $2,220 level. It is close to the 50% Fib retracement level of the downward move from the $2,319 swing high to the $2,103 low. The next key resistance is near the $2,275 level.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-708402\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/03\/Ethereum_0dd262.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" \/><\/p>\n<p>The first major resistance is near the $2,320 level. A clear move above the $2,320 resistance might send the price toward the $2,420 resistance. An upside break above the $2,420 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,500 resistance zone or even $2,550 in the near term.<\/p>\n<h2>Another Drop In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,220 resistance, it could start another decline. Initial support on the downside is near the $2,100 level. The first major support sits near the $2,050 zone.<\/p>\n<p>A clear move below the $2,050 support might push the price toward the $2,000 support. Any more losses might send the price toward the $1,880 support level in the near term. The next key support sits at $1,740.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish 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 $2,100<\/p>\n<p>Major Resistance Level \u2013 $2,220<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price failed to clear the $2,320 resistance and trimmed gains. ETH is now consolidating and facing hurdles near the $2,220 resistance. Ethereum started a fresh upward move above the $2,120 support zone. The price is trading below $2,220 and the 100-hourly Simple Moving Average. There was a break below a key rising channel with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":3315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[147],"tags":[138,148,102,104,105],"class_list":["post-3314","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:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=3314"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/3315"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=3314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=3314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=3314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}