Ethereum extended its decline below the $3,200 support against the US Dollar. ETH price is at a risk of more downsides below the $3,120 support zone.
Ethereum Price Corrects Lower
Ethereum failed to stay above the $3,300 support zone and extended its losses. ETH price broke the key $3,250 support zone to enter a bearish zone, similar to bitcoin.
The price even broke the $3,200 support level and the 100 hourly simple moving average. Ether traded as low as $3,150 and it is now consolidating losses. It recovered above the $3,170 and $3,180 levels. There was a break above the 23.6% Fib retracement level of the recent decline from the $3,380 swing high to $3,150 low.
It is now consolidating below $3,250 and the 100 hourly simple moving average. There is also a key bearish continuation pattern forming with support near $3,170 on the hourly chart of ETH/USD.
On the upside, an initial resistance is near the $3,200 and $3,220 levels. A clear break above the triangle resistance and $3,220 might call for a steady increase. The next key resistance is now forming near the $3,265 level. It is close to the 50% Fib retracement level of the recent decline from the $3,380 swing high to $3,150 low.
Source: ETHUSD on TradingView.com
Any more gains may possibly call for a move towards the $3,300 level in the near term. An intermediate resistance may possibly be near the $3,292 level.
More Losses in ETH?
If ethereum fails to continue higher above the $3,200 and $3,220 resistance levels, it could extend its decline. An immediate support on the downside is near the $3,150 level.
The key support is now forming near the $3,120 zone. A downside break below the $3,120 support zone could push the price further lower. The next major support could be $3,000.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is slowly losing pace in the bearish zone.
Hourly RSI – The RSI for ETH/USD is still below the 50 level.
Major Support Level – $3,120
Major Resistance Level – $3,265
Mutsamudu, Comoros, September 25, 2026 – MEXC, a pioneer in 0-fee digital asset trading, recorded…
Solana could be gearing up for another major growth catalyst as a long-awaited network upgrade…
The pseudonymous Bitcoin creator Satoshi Nakamoto has been a major topic of conversation amongst market…
On-Chain Protocol Reports 427,000+ Campaign Impressions, $10,000 Prize Pool Payout, and Ongoing Push for Broader…
Bitcoin (BTC) traded weaker Wednesday after the U.S. Senate failed to advance the CLARITY Act,…
Cardano (ADA) founder Charles Hoskinson has urged the crypto industry to move past the stalled…