The Ethereum price has continued to decline below the $2,450 level and is now consolidating. It is currently struggling to recover above the $2,425 level. The price is still below the 23.6% Fib retracement level and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,425. If the price can break above the $2,535 resistance, it may experience more gains and rise towards the $2,650 resistance. However, if it fails to clear the $2,420 resistance, it could continue to move down. The major support levels are at $2,350 and $2,320, while the major resistance levels are at $2,420 and $2,500.
- Content Editor ( newsbtc.com )
- 2024-10-03
Ethereum Price Grinds Lower: Is the Bullish Momentum Fading?