The post Ethereum Price Recovery May Stall Near 100-SMA: Is a Drop Coming? appeared on BitcoinEthereumNews.com.

Este artículo también está disponible en español. Ethereum price is attempting a recovery wave above $2,280. ETH must clear the $2,360 resistance to continue higher in the near term. Ethereum is attempting a recovery wave from the $2,150 zone. The price is trading below $2,320 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,280 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,360 resistance to continue higher in the near term. Ethereum Price Faces Resistance Ethereum price attempted a recovery wave above the $2,400 level. However, ETH failed to clear the $2,450 resistance zone. There was a fresh decline below $2,320 like Bitcoin. It tested the $2,150 support zone. A low was formed at $2,150 and the price is now attempting a recovery wave. There was a move above the $2,220 and $2,280 resistance levels. The price climbed above the 23.6% Fib retracement level of the downward wave from the $2,488 swing high to the $2,150 low. There was a break above a key bearish trend line with resistance at $2,280 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,320 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,320 level. The first major resistance is near the $2,360 level or the 61.8% Fib retracement level of the downward wave from the $2,488 swing high to the $2,150 low. A close above the $2,360 level might send Ether toward the $2,420 resistance. Source: ETHUSD on TradingView.com The next key resistance is near $2,480. An upside break above the $2,480 resistance might send the price higher toward the $2,550 resistance zone in the near term. Another Decline In ETH? If…

---

Filed under: News - @ September 9, 2024 3:19 am