Ethereum Price Recovery May Stall Near 100-SMA: Is a Drop Coming?
09 Septembre 2024 - 5:18AM
NEWSBTC
Ethereum price is attempting a recovery wave above $2,280. ETH must
clear the $2,360 resistance to continue higher in the near term.
Ethereum is attempting a recovery wave from the $2,150 zone. The
price is trading below $2,320 and the 100-hourly Simple Moving
Average. There was a break above a key bearish trend line with
resistance at $2,280 on the hourly chart of ETH/USD (data feed via
Kraken). The pair must clear the $2,360 resistance to continue
higher in the near term. Ethereum Price Faces Resistance Ethereum
price attempted a recovery wave above the $2,400 level. However,
ETH failed to clear the $2,450 resistance zone. There was a fresh
decline below $2,320 like Bitcoin. It tested the $2,150 support
zone. A low was formed at $2,150 and the price is now attempting a
recovery wave. There was a move above the $2,220 and $2,280
resistance levels. The price climbed above the 23.6% Fib
retracement level of the downward wave from the $2,488 swing high
to the $2,150 low. There was a break above a key bearish trend line
with resistance at $2,280 on the hourly chart of ETH/USD. Ethereum
price is now trading below $2,320 and the 100-hourly Simple Moving
Average. On the upside, the price seems to be facing hurdles near
the $2,320 level. The first major resistance is near the $2,360
level or the 61.8% Fib retracement level of the downward wave from
the $2,488 swing high to the $2,150 low. A close above the $2,360
level might send Ether toward the $2,420 resistance. The next key
resistance is near $2,480. An upside break above the $2,480
resistance might send the price higher toward the $2,550 resistance
zone in the near term. Another Decline In ETH? If Ethereum fails to
clear the $2,360 resistance, it could start another decline.
Initial support on the downside is near $2,250. The first major
support sits near the $2,180 zone. A clear move below the $2,180
support might push the price toward $2,150. Any more losses might
send the price toward the $2,050 support level in the near term.
The next key support sits at $2,000. 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 zone. Major
Support Level – $2,180 Major Resistance Level – $2,360
Ethereum (COIN:ETHUSD)
Graphique Historique de l'Action
De Sept 2024 à Oct 2024
Ethereum (COIN:ETHUSD)
Graphique Historique de l'Action
De Oct 2023 à Oct 2024