CandleFocus Ethereum Pauses Above $2,500 As It Heads For The Resistance Line Again
2024-10-16
Author: Content Editor
The price of Ethereum (ETH) has experienced positive momentum recently, rising above moving average lines and attempting to regain its upward trend. The altcoin's decline has been halted at the $2,500 support level and it is expected to rise and potentially break through the $2,800 barrier, indicating continuation of the positive momentum. However, if Ether loses the $2,500 support, there is a risk of further decline, testing the previous low at $2,300. The resistance levels for ETH are at $4,000 and $4,500, while support levels are at $3,500 and $3,000. On the 4-hour chart, Ether has been trading sideways between the support at $2,300 and the resistance at $2,700 since September 23. The analysis and forecast provided are the personal opinions of the author and not a recommendation to buy or sell cryptocurrency. Readers are advised to do their own research before investing.
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