CandleFocus

Ethereum Faces A First Barrier Of $2,700 And Falls Back

Author: Content Editor
The price of Ethereum (ETH) has recently surged above the moving average lines and reached a high of $2,629, with predictions that it could reach $3,000. However, resistance is expected at the $2,800 level. The altcoin's current upward trend suggests it may continue to move higher, potentially reaching the 2.618 Fibonacci extension at $2,959.15. However, if the current upswing fails to break through the $2,800 resistance level, Ether may fall. The altcoin is currently in an uptrend, but an end to this trend could occur if the price falls below the moving average lines. Resistance levels are projected at $4,000 and $4,500, while support levels are at $3,500 and $3,000. On the 4-hour chart, Ethereum appears to be experiencing bullish fatigue, with a downward movement starting after reaching resistance at $2,700. It is currently consolidating above the $2,600 level. This analysis and forecast are personal opinions and not a recommendation to invest.

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