CandleFocus Ethereum Price Battles Resistance: Will It Break Through and Resume Its Rise?
2024-10-25
Author: Content Editor
The Ethereum price has been experiencing losses and recently tested the support zone at $2,450. However, it is now in the process of recovering those losses but is struggling to gain momentum to move above the $2,550 level. There was a slight increase above the $2,500 level, with the price breaking a bearish trendline at $2,540. Currently, Ethereum is trading below $2,560 and the 100-hourly Simple Moving Average, facing resistance near the $2,560 and $2,580 levels. If it can break above the $2,600 resistance, it may move towards $2,650 and potentially reach the $2,750 resistance zone. On the other hand, if it fails to clear the $2,560 resistance, it could start declining again with initial support at $2,505, followed by major support near $2,485.
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