Ethereum Price Battles Resistance: Can ETH Regain Momentum?
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Ethereum price corrected gains and is currently trading below the $3,300 level after failing to break the $3,400 resistance. ETH entered a short-term bearish zone and is consolidating losses. It recovered slightly but faces resistance near $3,300 and the 100-hourly Simple Moving Average.
The price might rise if it clears the $3,330 and $3,350 resistance levels, potentially pushing Ether towards the $3,400 and $3,500 resistance zones. However, if Ethereum fails to overcome these hurdles, it could experience further declines.
Key support levels on the downside include $3,250, $3,230, and $3,080, with potential declines towards $3,020 if bearish momentum continues. Technical indicators such as the MACD and RSI suggest limited upward momentum at present.
Source: www.newsbtc.com ↗
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