CandleFocus Ethereum Price Lags While Bitcoin Moves Toward New ATH
2024-10-30
Author: Content Editor
Ethereum's price has seen a fresh increase, surpassing the $2,580 resistance level. Despite this, it is still far from its all-time high, unlike Bitcoin, which is nearing its own ATH. Ethereum has formed a strong base above the $2,465 level and has successfully climbed above the $2,550 and $2,580 resistance levels. It is currently trading above $2,600 and the 100-hourly Simple Moving Average. However, it is facing hurdles near the $2,650 level, with major resistance forming around $2,680 and $2,720. A break above the $2,915 resistance could lead to further gains, potentially pushing Ethereum towards the $3,000 resistance zone. On the downside, if Ethereum fails to clear the $2,680 resistance, it could begin a downside correction, with initial support at $2,600 and major support near $2,560.
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