CandleFocus Ethereum Continues Its Upward Trend And Remains Above $2,300
2024-09-18
Author: Content Editor
The price of Ethereum (ETH) remains above the critical support level of $2,300. The bears had previously breached key support levels, but the bulls bought the dips, preventing a further decline. Ether rebounded from the support level and retested the 21-day SMA, but the moving average lines have halted the uptrend. The current value of Ether is $2,378. The moving average lines act as price barriers to the upside, and if Ether is rejected at the 21-day moving average line, it may fall further. The resistance levels for Ether are $4,000 and $4,500, while the support levels are $3,500 and $3,000. Ethereum is currently trading in a narrow range, and the upside will depend on the bulls' ability to defend the $2,300 support level. This analysis and forecast are the personal opinions of the author and should not be seen as investment advice.
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