CandleFocus Ethereum Price Lacks Traction: Can It Overcome The Slowdown?
2024-10-28
Author: Content Editor
The article discusses the recent performance of Ethereum (ETH) price. It states that ETH experienced a decline below the $2,250 level but has since started an upside correction. The price faced resistance near the $2,520 level and is currently trading below $2,500 and the 100-hourly Simple Moving Average. There is a short-term rising channel formed with support at $2,480. The major resistance levels to watch are $2,550 and $2,600. If ETH fails to clear the $2,520 resistance, it could see another decline with support levels at $2,480, $2,420, and $2,380. The article also mentions that the hourly MACD is losing momentum in the bullish zone, and the RSI is near the 50 zone.
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