Ethereum resting on a weak support

Ethereum plunges again to $3000 key support level and bulls are trying hard to reserve this level to avoid further damage. 

Ethereum price today is $3,191.13 USD with a 24-hour trading volume of $8,971,799,474 USD. Ethereum is up 2.00% in the last 24 hours, with a market cap of $380,505,196,087 USD. It has a circulating supply of 119,238,465 ETH coins.   

Ethereum resting
Source: Tradingview

Ethereum Resting: Analysis

Ethereum is trading below EMA 100 on the 4-hour chart. There is a key bearish trend line acting as resistance right above the lower lows of Ethereum. The Ethereum price is struggling to break above the $3200 resistance but failed. Once it does, we might see a decent increase in the price rising towards the final resistance at $3769, fib 0.786 level.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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