CandleFocus Ethereum (ETH) Stalls at $2400 as Buyers Show Signs of Hesitation
2024-10-10
Author: Content Editor
The price of Ethereum (ETH) has fallen below its 20-day exponential moving average (EMA) and 50-day simple moving average (SMA) on October 1, indicating a bearish trend and resistance levels. This suggests a hesitation among buyers to enter the market at higher prices. Ethereum is currently trading slightly below its 20-day EMA and 50-day SMA, with a lack of demand indicated by its negative Chaikin Money Flow. The Parabolic Stop and Reverse (SAR) indicator confirms the bearish bias, and if selling pressure continues, the price could decline further. However, if buying pressure increases, Ethereum's price could break through resistance and trade higher.
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