CandleFocus Ethereum Price Back Above $2,500: Is a Bigger Move Coming?
2024-10-07
Author: Content Editor
The Ethereum (ETH) price has experienced an upwards trend and is aiming to surpass the $2,550 resistance level. ETH managed to surpass several key resistance levels, including $2,350 and $2,400. It is currently trading above $2,450 and the 100-hourly Simple Moving Average. A bullish trend line has formed with support at $2,435. However, the price may face obstacles near the $2,525 level, and a clear break above this resistance could lead to further gains towards the $2,550 resistance. On the other hand, if the $2,525 resistance is not overcome, ETH could experience a decline, with initial support at $2,450. Further support levels are at $2,420, $2,350, and $2,320. The MACD indicator shows bullish momentum, and the RSI is above the 50 zone.
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