The Ethereum price has made a significant upward move, reaching close to the $2,500 resistance level and gaining nearly 10%. It has consolidated these gains and is now trading above $2,440, supported by the 100-hourly Simple Moving Average and a bullish trend line. The immediate resistance levels are at $2,480 and $2,500, with a potential upside break leading to more gains towards $2,650 and $2,750. However, if the price fails to clear the resistance at $2,480, it could initiate a downside correction, with initial support at $2,440 and major support at $2,385. A clear move below $2,385 could push the price towards $2,320 and potentially $2,250. The technical indicators suggest that the market is currently in a bullish zone, with the MACD losing momentum and the RSI above 50.
- Content Editor ( newsbtc.com )
- 2024-09-20
Ethereum Price Reaches $2,500 Again: Will The Uptrend Hold?