CandleFocus Ethereum Price Nosedives Over 5%, Pressure Mounts on Bulls
2024-09-16
Author: Content Editor
The price of Ethereum (ETH) has dropped over 5%, falling below $2,350 and indicating increased selling pressure. It failed to surpass the $2,450 resistance and has broken key support levels at $2,400. The current price is below $2,320 and the 100-hourly Simple Moving Average, with potential hurdles at the $2,300 and $2,320 levels. Failure to clear the $2,320 resistance could lead to further declines, with initial support at $2,250 and major support at $2,200. Technical indicators like MACD and RSI are showing bearish signals.
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