CandleFocus Ethereum Price Extends Losses: Is The Downtrend Set to Continue?
2024-10-02
Author: Content Editor
The Ethereum price has been in a bearish zone and has dropped below $2,600. It is currently trading below $2,520 and the 100-hourly Simple Moving Average. The price seems to be facing resistance at $2,520 and there is a short-term consolidation pattern forming with resistance at $2,500. If the price breaks above $2,550, it could see further gains towards $2,620. However, if it fails to clear the $2,520 resistance, it could continue to move down and the first major support is near $2,420.
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