Ethereum price started a recovery wave from the $2,820 zone. ETH is rising and now facing a major hurdle near the 100-hourly simple moving average.

Ethereum found support at $2,820 and started a recovery wave.

The price is trading below $3,050 and the 100-hourly Simple Moving Average.

There was a break above a key bearish trend line with resistance at $3,000 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start a fresh decline if it fails to clear the $3,050 resistance.

Ethereum Price Faces Key Hurdle

Ethereum price extended losses below the $3,000 level, like Bitcoin. ETH even tested the $2,820 support zone. A low was formed at $2,813 and the price started a recovery wave.

There was a decent move above the $2,880 and $2,950 resistance levels. The price cleared the 23.6% Fib retracement level of the downward move from the $3,355 swing high to the $2,813 low. Besides, there was a break above a key bearish trend line with resistance at $3,000 on the hourly chart of ETH/USD.

However, the bears are active near the 100-hourly Simple Moving Average. Ethereum is now trading below $3,030 and the 100-hourly Simple Moving Average. Immediate resistance is near the $3,030 level. The first major resistance is near the $3,050 level.

The next key resistance sits at $3,085 or the 50% Fib retracement level of the downward move from the $3,355 swing high to the $2,813 low, above which the price might gain traction and rise toward the $3,150 level.

Source: ETHUSD on TradingView.com

If the bulls remain in action and push the price above $3,150, there could be a drift toward the $3,250 resistance. Any more gains could send Ether toward the $3,350 resistance zone.

Another Decline In ETH?

If Ethereum fails to clear the $3,050 resistance, it could start another decline. Initial support on the downside is near the $2,940 level. The first major support is near the $2,880 zone.

The main support is near the $2,820 level. A clear move below the $2,820 support might push the price toward $2,740. Any more losses might send the price toward the $2,650 level in the near term.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is losing momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 level.

Major Support Level – $2,940

Major Resistance Level – $3,050

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Source: NewsBTC.com

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Title: Binance: The Global Cryptocurrency Exchange Revolutionizing the Trading World

Introduction:
In the rapidly evolving world of cryptocurrency, Binance has emerged as a leading global exchange, revolutionizing the way people trade and invest in digital assets. Founded in 2017, Binance has quickly become the largest cryptocurrency exchange by trading volume, with a presence in over 180 countries and regions. In this article, we'll delve into the world of Binance and explore its impact on the global trading landscape.
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The Rise of Binance:
Binance's success can be attributed to its innovative approach to cryptocurrency trading. By offering a user-friendly platform, competitive fees, and a vast array of digital assets, Binance has attracted millions of users worldwide. Its meteoric rise is a testament to the growing demand for cryptocurrency trading and the need for a reliable, secure, and efficient exchange.

Key Features:

1. *User-Friendly Interface*: Binance's platform is designed for ease of use, making it accessible to both novice and experienced traders.
2. *Extensive Asset Selection*: With over 500 digital assets listed, Binance offers one of the widest selections of cryptocurrencies for trading.
3. *Competitive Fees*: Binance's fees are among the lowest in the industry, making it an attractive option for traders.
4. *Security*: Binance prioritizes security, utilizing advanced encryption and multi-tiered protection to safeguard users' assets.
5. *Global Reach*: With a presence in over 180 countries and regions, Binance has established itself as a truly global exchange.

Impact on the Trading World:

1. *Increased Accessibility*: Binance has made cryptocurrency trading more accessible to people worldwide, contributing to the growing adoption of digital assets.
2. *Global Liquidity*: Binance's massive user base and trading volume have created a liquid market, enabling users to buy and sell assets quickly and efficiently.
3. *Innovation*: Binance's innovative approach has driven the development of new trading tools and features, raising the bar for the entire industry.
4. *Competition*: Binance's success has sparked competition among exchanges, driving innovation and improvement across the board.

Challenges and Future Directions:

1. *Regulatory Compliance*: Binance faces the challenge of navigating complex regulatory environments worldwide, ensuring compliance with varying laws and regulations.
2. *Scalability*: As the exchange continues to grow, Binance must invest in infrastructure and technology to maintain performance and efficiency.
3. *Security*: With the ever-present threat of cyber attacks, Binance must remain vigilant and proactive in protecting users' assets.

Conclusion:
Binance has revolutionized the cryptocurrency trading landscape, offering a secure, efficient, and innovative platform for users worldwide. As the exchange continues to evolve and improve, it's clear that Binance will remain a driving force in the global trading world. Whether you're a seasoned trader or just starting out, Binance is an exchange worth considering. Join the millions of users already trading on Binance and experience the future of cryptocurrency trading today.
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