CandleFocus Ethereum Price Aims for Key Upside: Can Bulls Push Past $2,400?
2024-09-12
Author: Content Editor
The Ethereum price is currently trading above $2,320 and has the potential to gain bullish momentum if it can clear the $2,400 resistance level. Ethereum formed a base and started another increase, breaking above a short-term declining channel with resistance at $2,350. However, it has stayed below the $2,400 resistance level with a high at $2,390, and is now consolidating near the 23.6% Fib retracement level. On the upside, Ethereum faces hurdles at $2,380 and $2,400, with key resistances at $2,450 and $2,500. If Ethereum fails to clear the $2,380 resistance, it could start another decline, with initial support at $2,350 and major support at $2,330. Technical indicators show that the MACD is losing bullish momentum while the RSI is above 50.
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