Ethereum Price Targets a Comeback: Will the Bounce Last?
11 Octobre 2024 - 5:48AM
NEWSBTC
Ethereum price extended losses and tested the $2,320 support. ETH
is now correcting losses and might aim for a fresh increase above
the $2,420 resistance. Ethereum remained in a bearish zone and
traded below the $2,360 zone. The price is trading below $2,420 and
the 100-hourly Simple Moving Average. There is a connecting bearish
trend line forming with resistance at $2,420 on the hourly chart of
ETH/USD (data feed via Kraken). The pair must stay above the $2,350
support level to start decent increase in the near term. Ethereum
Price Aims Upside Break Ethereum price failed to start a fresh
increase above the $2,450 resistance zone. ETH remained in a
bearish zone like Bitcoin and traded below the $2,365 support zone.
There was also a move below the $2,350 level. The price tested the
$2,320 support zone. A low was formed at $2,329 and the price is
now rising. There was a move above the $2,350 and $2,365 levels.
The price climbed above the 23.6% Fib retracement level of the
downward wave from the $2,468 swing high to the $2,329 low.
Ethereum price is now trading below $2,420 and the 100-hourly
Simple Moving Average. On the upside, the price seems to be facing
hurdles near the $2,420 level. There is also a connecting bearish
trend line forming with resistance at $2,420 on the hourly chart of
ETH/USD. The trend line is close to the 61.8% Fib retracement level
of the downward wave from the $2,468 swing high to the $2,329 low.
A clear move above the $2,420 resistance might send the price
toward the $2,450 resistance. An upside break above the $2,420
resistance might call for more gains in the coming sessions. In the
stated case, Ether could rise toward the $2,500 resistance zone in
the near term. The next hurdle sits near the $2,550 level or
$2,560. More Losses In ETH? If Ethereum fails to clear the $2,420
resistance, it could start another decline. Initial support on the
downside is near the $2,380 level. The first major support sits
near the $2,350 zone. A clear move below the $2,350 support might
push the price toward $2,320. Any more losses might send the price
toward the $2,265 support level in the near term. The next key
support sits at $2,220. Technical Indicators Hourly MACD – The MACD
for ETH/USD is gaining momentum in the bullish zone. Hourly RSI –
The RSI for ETH/USD is now above the 50 zone. Major Support Level –
$2,320 Major Resistance Level – $2,420
Ethereum (COIN:ETHUSD)
Graphique Historique de l'Action
De Oct 2024 à Nov 2024
Ethereum (COIN:ETHUSD)
Graphique Historique de l'Action
De Nov 2023 à Nov 2024