TA: Ethereum Near Make-or-Break Levels, Why ETH Could Extend Losses

Ethereum failed to clear the $3,200 resistance against the US Dollar. ETH price is declining and might retest the $2,960 support zone in the near term.

  • Ethereum is struggling to clear the $3,190 and $3,200 resistance levels.
  • The price is now trading above $3,050 and the 100 hourly simple moving average.
  • There is a major bullish trend line forming with support near $3,060 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could extend losses if it fails to stay above the USD 3,050 support.

Ethereum Price Reaches Key Support

Ethereum attempted an upside break above the $3,200 resistance zone. However, ETH failed to gain momentum and formed a short-term top near the $3,196 level

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