{"id":117135,"date":"2024-06-25T13:44:28","date_gmt":"2024-06-25T10:44:28","guid":{"rendered":"https:\/\/cryptodnes.bg\/eng\/?p=117135"},"modified":"2024-06-25T20:10:52","modified_gmt":"2024-06-25T17:10:52","slug":"ethereum-may-have-bottomed-out-is-it-time-for-recovery","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/","title":{"rendered":"Ethereum May Have Bottomed Out – is it Time for Recovery?"},"content":{"rendered":"

ETH tested support at $3,240 and is now poised for a potential rally above resistance at $3,380.<\/p>\n

The price of Ethereum<\/strong><\/b><\/a> <\/b>has encountered difficulty for a new advance above the $3,500 area. Following Bitcoin’<\/strong><\/b><\/a>s bearish trend, ETH dropped below $3,350 and bears pushed it below the $3,320 support level.<\/p>\n

A low of $3,230 was established and the price is now correcting its losses. There is a minor upside move above the $3,300 and $3,320 levels. The value of the altcoin has climbed above the 23.6% Fib retracement level of the recent decline, moving from a high of $3,517 to a low at $3,230.<\/p>\n

At the time of writing, Ethereum is trading below $3,400 and the 100-hour simple moving average. On the upside, resistance could be encountered near the $3,375 level or the 50% Fib retracement level.<\/p>\n

The first significant resistance is near the $3,450 level. In addition, a key bearish trend line is forming on the hourly chart of ETH\/USD with resistance around $3,440. At the time of writing, the altcoin price is hovering around $3,370.<\/p>\n

Potential upside and key resistances<\/b><\/h2>\n

If ETH manages to break above the $3,540 resistance, it could head higher. The next key resistance is at the $3,620 level, which if overcome, could lead to a price rise towards the $3,650 level. Further gains could push the cryptocurrency towards the $3,720 resistance zone in the coming days.\u00a0\"\"<\/a><\/p>\n

Potential for a new decline<\/b><\/h2>\n

If Ethereum fails to overcome the $3,450 resistance level, it could face another decline. Initial downside support is near $3,325 and the first major support is around the $3,240 area.<\/p>\n

A clear move below the $3,240 support could see the price fall to $3,200. Any further losses could bring the price to the $3,120 level in the short term.<\/p>\n","protected":false},"excerpt":{"rendered":"

The value of Ethereum continued to fall, dropping below the support level of $3,320.<\/p>\n","protected":false},"author":3,"featured_media":112073,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24],"tags":[],"class_list":["post-117135","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins"],"acf":[],"yoast_head":"\nEthereum May Have Bottomed Out - is it Time for Recovery?<\/title>\n<meta name=\"description\" content=\"The value of Ethereum continued to fall, dropping below the support level of $3,320.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum May Have Bottomed Out - is it Time for Recovery?\" \/>\n<meta property=\"og:description\" content=\"The value of Ethereum continued to fall, dropping below the support level of $3,320.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/\" \/>\n<meta property=\"og:site_name\" content=\"Cryptodnes EN\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-25T10:44:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-25T17:10:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/05\/ethereum-eth-f1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1022\" \/>\n\t<meta property=\"og:image:height\" content=\"655\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Alexander Stefanov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Alexander Stefanov\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/\",\"url\":\"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/\",\"name\":\"Ethereum May Have Bottomed Out - is it Time for Recovery?\",\"isPartOf\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/05\/ethereum-eth-f1.jpg\",\"datePublished\":\"2024-06-25T10:44:28+00:00\",\"dateModified\":\"2024-06-25T17:10:52+00:00\",\"author\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5\"},\"description\":\"The value of Ethereum continued to fall, dropping below the support level of $3,320.\",\"breadcrumb\":{\"@id\":\"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/#primaryimage\",\"url\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/05\/ethereum-eth-f1.jpg\",\"contentUrl\":\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/05\/ethereum-eth-f1.jpg\",\"width\":1022,\"height\":655},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cryptodnes.bg\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Altcoins\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#website\",\"url\":\"https:\/\/cryptodnes.bg\/en\/\",\"name\":\"Cryptodnes EN\",\"description\":\"Crypto News, Bitcoin Analysis and More\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cryptodnes.bg\/en\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5\",\"name\":\"Alexander Stefanov\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g\",\"caption\":\"Alexander Stefanov\"},\"url\":\"https:\/\/cryptodnes.bg\/en\/author\/alex100oo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Ethereum May Have Bottomed Out - is it Time for Recovery?","description":"The value of Ethereum continued to fall, dropping below the support level of $3,320.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/","og_locale":"en_US","og_type":"article","og_title":"Ethereum May Have Bottomed Out - is it Time for Recovery?","og_description":"The value of Ethereum continued to fall, dropping below the support level of $3,320.","og_url":"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/","og_site_name":"Cryptodnes EN","article_published_time":"2024-06-25T10:44:28+00:00","article_modified_time":"2024-06-25T17:10:52+00:00","og_image":[{"width":1022,"height":655,"url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/05\/ethereum-eth-f1.jpg","type":"image\/jpeg"}],"author":"Alexander Stefanov","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Alexander Stefanov","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/","url":"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/","name":"Ethereum May Have Bottomed Out - is it Time for Recovery?","isPartOf":{"@id":"https:\/\/cryptodnes.bg\/en\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/#primaryimage"},"image":{"@id":"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/05\/ethereum-eth-f1.jpg","datePublished":"2024-06-25T10:44:28+00:00","dateModified":"2024-06-25T17:10:52+00:00","author":{"@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5"},"description":"The value of Ethereum continued to fall, dropping below the support level of $3,320.","breadcrumb":{"@id":"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/#primaryimage","url":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/05\/ethereum-eth-f1.jpg","contentUrl":"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2024\/05\/ethereum-eth-f1.jpg","width":1022,"height":655},{"@type":"BreadcrumbList","@id":"https:\/\/cryptodnes.bg\/en\/ethereum-may-have-bottomed-out-is-it-time-for-recovery\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptodnes.bg\/en\/"},{"@type":"ListItem","position":2,"name":"Altcoins"}]},{"@type":"WebSite","@id":"https:\/\/cryptodnes.bg\/en\/#website","url":"https:\/\/cryptodnes.bg\/en\/","name":"Cryptodnes EN","description":"Crypto News, Bitcoin Analysis and More","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptodnes.bg\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/121029bf2ce7d5bbdab7f447d5aeebb5","name":"Alexander Stefanov","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cryptodnes.bg\/en\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6dd8585c9881c74e639b0a3d0a889929?s=96&d=mm&r=g","caption":"Alexander Stefanov"},"url":"https:\/\/cryptodnes.bg\/en\/author\/alex100oo\/"}]}},"modified_by":"C0323492922","_links":{"self":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/117135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/comments?post=117135"}],"version-history":[{"count":2,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/117135\/revisions"}],"predecessor-version":[{"id":117138,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/posts\/117135\/revisions\/117138"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/media\/112073"}],"wp:attachment":[{"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/media?parent=117135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/categories?post=117135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptodnes.bg\/en\/wp-json\/wp\/v2\/tags?post=117135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}