CandleFocus Ethereum Price Next Move Hinges on Clearing This Crucial Hurdle
2024-10-04
Author: Content Editor
The Ethereum price has been declining and recently fell below the $2,350 level. However, it is now starting to recover and faces a major hurdle around the $2,300 zone. The price is still below the 23.6% Fib retracement level and the 100-hourly Simple Moving Average. If it can break above the trend line resistance at $2,400, it could potentially reach the $2,480 and $2,550 resistance levels. On the other hand, if it fails to clear the $2,400 resistance, it may start another decline with initial support around $2,350 and major support near $2,300.
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