Ethereum

Resistance

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-faces-key-resistance-challenges/" data-wpel-link="internal">Ethereum Faces Key Resistance Challenges</a><br></p>
<p style="text-align: justify">In recent days, the price of <strong><a href="https://coin-turk.com/binancede-istediginiz-miktarda-eth-stake-ederek-pasif-gelir-elde-edebilirsiniz" data-wpel-link="internal">Ethereum</a></strong> has been seeking a level of balance. This situation keeps excitement alive among investors. However, it is clear that we are facing a significant test during this process: the $3,200 resistance level. So, can <a href="https://en.coin-turk.com/ethereum-price-surpasses-3000-resistance-level/" data-wpel-link="internal">Ethereum</a> withstand this pressure?</p> 
<h2 style="text-align: justify" id="ethereum-at-a-critical-level">Ethereum at a Critical Level</h2> 
<p style="text-align: justify">Recently, it has been observed that Ethereum has lost value, testing the $3,072 support region. However, in this search for balance, there seems to be a glimmer of hope in the near term. There are signs that Ethereum is experiencing a recovery wave above the $3,125 support. Yet, it seems that for a real recovery, <strong><a href="https://en.coin-turk.com/6-5-billion-dollars-worth-of-ethereum-burned-after-london-hard-fork/" data-wpel-link="internal">ETH</a></strong> needs to overcome the critical $3,200 resistance.</p> 
<p style="text-align: justify">In technical analysis, a clear rising channel formation is observed on Ethereum’s hourly chart. However, it should not be forgotten that maintaining the $3,140 support is crucial to stay within the limits of this channel. If the ETH/USD pair falls below the $3,125 support, it could trigger a downward movement.</p> 
<h2 style="text-align: justify" id="3-200-is-a-critical-resistance-for-eth">$3,200 Is a Critical Resistance for ETH</h2> 
<p style="text-align: justify">In the coming days, resistance points for Ethereum become more apparent. Especially the $3,200 resistance area stands out as a critical point. However, if Ethereum overcomes this resistance, the $3,240 level could be the next significant target. At this point, a rise towards the $3,280 level could be seen. Yet, passing this level is necessary for a real upward trend.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-344750 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/ethereum-eth-coin-turk-com-1-8.png" alt="" width="1849" height="820"></p> 
<p style="text-align: justify">Therefore, the points that need to be closely monitored for Ethereum in the coming days are becoming clear. Without surpassing the $3,200 resistance level, a true recovery may not be possible. Breaking this resistance could mean that Ethereum might target the $3,500 resistance area.</p> 
<h2 style="text-align: justify" id="if-ethereum-cannot-overcome-the-resistance">If Ethereum Cannot Overcome the Resistance</h2> 
<p style="text-align: justify">Despite recent volatility, if Ethereum cannot surpass the $3,180 resistance, it could face further declines. Currently, the first support for the downward-trending cryptocurrency is around $3,125. However, a move below this level could lead to greater losses.</p> 
<p style="text-align: justify">The first major support is positioned near $3,075. A break below this level could increase selling pressure and direct the price towards the main support area around $3,030. If this support is also broken, Ethereum could face further declines, potentially pulling back to levels around $2,880. A move below this level could drag the price to the $2,750 level in the near term.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-faces-key-resistance-challenges/" data-wpel-link="internal">Ethereum Faces Key Resistance Challenges</a></h5>

Ethereum Faces Key Resistance Challenges

Table of Contents

COINTURK NEWS

Other articles published on Apr 26, 2024

Exploring Market Reactions to Bitcoin Halving Events

Analysts Endorse These as the 3 Best DeFi Altcoins to Buy in 2024: Polkadot (DOT), Aave (AAVE), a...

DOGE Price Prediction for April 26

Slothana Presale Hits $15M and Enters Final Stage Amid Growing Industry Interest

Anthony Scaramucci Issues Important 'Buy Bitcoin' Message

Whale Movements Stir Excitement in Crypto Markets

Join our free newsletter for daily crypto updates!