Ethereum is currently trading at $3531, holding above the critical support level of $3221. Traders are closely watching this movement for clear signals in the chart, with potential price targets on the horizon.
Ethereum Support and Resistance Levels
| Level | Price (USD) | Description |
|---|---|---|
| Support 1 | $3250 | The 100-day Exponential Moving Average (EMA) represents the average price over the last 100 days and indicates mid to long-term market trends. |
| Support 2 | $3000 | Bollinger Bands are volatility indicators that expand and contract based on market fluctuations. The lower Bollinger Band is a set deviation below the 20-day simple moving average. |
| Resistance 1 | $3600 | The 50-day Exponential Moving Average (EMA) represents the average price over the last 50 days and indicates short to mid-term market trends. |
| Resistance 2 | $3850 | The Upper Bollinger Band is a set deviation above the 20-day simple moving average. |
Frequently Asked Questions about Ethereum Price
- What Ethereum price targets should I consider?
- With support at $3250 holding and resistance near $3600, a potential extension target for buyers is $5823.
- Is Ethereum Bullish?
- The Stochastic RSI is currently at 15, suggesting oversold conditions. Momentum appears to favor bears, with resistance at $3600. Traders may consider placing stop-losses below $3200.
- How do I set stop-loss levels for Ethereum?
- It is advisable to place stop-loss orders below the $3200 support level. Swing lows can also serve as effective reference points for setting these levels.
- What are the Ethereum moving averages indicating?
- The EMA50 is positioned at $3600, and the EMA100 is at $3250. Ethereum is currently trading between these two moving averages, and their relative positions can help determine the trend direction.
- Should I buy or sell ETH?
- Buyers might consider entering positions near the $3250 or $3221 support levels, with stops placed below $3200. Sellers could look to exit near $3600 or $3850, and a profit target could be set at $5823. Careful risk management is essential.
- How do Fibonacci levels affect the Ethereum price?
- The Fibonacci 61.8% retracement level is located at $3221, while the 138.2% extension level targets $5823.
- What does $ETH momentum show?
- The Stochastic RSI K-line is reading 15, indicating oversold conditions. Generally, values above 80 suggest overbought conditions, values below 20 suggest oversold conditions, and values between 20-80 indicate neutral momentum.
Conclusion
Ethereum is exhibiting weakness below the $3221 support level, with eyes on $3200 as a potential breakdown point. The current momentum favors bears, suggesting that another sell-off may follow. It is crucial to remain cautious and prioritize capital protection.