CandleFocus Ethereum Price Battles to Bounce Back: Is a Recovery Coming?
2024-10-23
Author: Content Editor
The Ethereum price struggled to continue its upward movement above the $2,750 resistance and has now entered a correction phase. It is currently struggling to break the $2,650 level and is trading below the 100-hourly Simple Moving Average. If it fails to overcome the $2,650 resistance, it could experience further declines with initial support at $2,600 and major support at $2,550. However, a clear break above the $2,700 resistance level could lead to more gains, potentially pushing the price towards the $2,750 and $2,800 resistance levels.
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