CandleFocus

Ethereum Holds Above $2,300 And Approaches Bearish Exhaustion

Author: Content Editor
The price of Ethereum (ETH) has been trading steadily below the moving average lines since October 1, but has held above support levels of $2,300 and $2,400. Selling pressure is easing at lower price levels, and Ether is now trading above the support of $2,400. If the price rises above this level, it is expected to push Ether above the moving average lines and continue its positive trend towards the next resistance at $2,800. If buyers are successful in breaking above this resistance, Ether could reach a high of $3,400. The current price bars are above the moving average lines on the 4-hour chart, indicating a potential rise for Ether. The next resistance levels are $4,000 and $4,500, while support levels are at $3,500 and $3,000. After a drop in price on October 3, Ether has been moving sideways with limited price movement. However, it has now broken above the moving average lines and is facing an initial barrier at $2,400. This analysis and forecast are the author's personal opinions and not a recommendation to buy or sell cryptocurrency.

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