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Ethereum Price Gains in Danger: Will the Decline Continue? Newsbtc 05 сен 2024

Ethereum Price Gains in Danger: Will the Decline Continue? 📉

Ethereum price is trying to break above $2,420, aiming for recovery. However, it must surpass the $2,500 resistance to keep the momentum going. It's currently below $2,480 and the 100-hourly Simple Moving Average, which poses significant hurdles.

After hitting a low at $2,308, Ethereum managed to climb above $2,350 and $2,400 resistance levels. It even broke above a key bearish trend line at $2,430. The price now faces challenges near the $2,465 level, corresponding to the 61.8% Fib retracement level of the last downward wave.

A major resistance lies at $2,500, and if conquered, could send Ethereum to the next resistance at $2,550 and potentially $2,620. An upside break above $2,620 might lead to $2,780 in the near term.

If Ethereum cannot clear $2,465 resistance, another decline is possible. Initial support is at $2,435, with further support at $2,400. Falling below this could push the price towards $2,340 and further down to $2,300. Key support stands at $2,250.

Technical indicators show the hourly MACD losing momentum, but the RSI is above the 50 zone, indicating mixed signals.

Булак: www.newsbtc.com ↗

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Could Ethereum (ETH) Overcome Current Challenges to Reclaim the $2,600 Level?
Exploring the Possibilities: Could Ethereum (ETH) Break Resistance at $2,836 or Slip to $2,062? Coinotag 10 окт 2024
Exploring the Possibilities: Could Ethereum (ETH) Break Resistance at $2,836 or Slip to $2,062?
Ethereum (ETH) Navigates Potential Price Shifts: Could It Drop to $2,320 or Rise to $3,102? Coinotag 15 окт 2024
Ethereum (ETH) Navigates Potential Price Shifts: Could It Drop to $2,320 or Rise to $3,102?
Ethereum Tests Key Support Level as Market Eyes Potential Recovery Towards $6,000 Coinotag 2 апта мурун
Ethereum Tests Key Support Level as Market Eyes Potential Recovery Towards $6,000
Ethereum Price Targets $3,562 Amid Strong Bullish Momentum and Potential for Further Gains Coinotag 3 күн мурун
Ethereum Price Targets $3,562 Amid Strong Bullish Momentum and Potential for Further Gains
Ethereum Surpasses $3,000 Amid Gains While Trader Suggests Potential Reversal Coinotag 1 апта мурун
Ethereum Surpasses $3,000 Amid Gains While Trader Suggests Potential Reversal
Ethereum Price Predictions: Will ETH Rebound Above $3,000 or Face a Downturn? Coinotag 4 апта мурун
Ethereum Price Predictions: Will ETH Rebound Above $3,000 or Face a Downturn?
Could Ethereum’s Support at $2,300 Signal a Potential Rally Towards $6,000? Coinotag 08 окт 2024
Could Ethereum’s Support at $2,300 Signal a Potential Rally Towards $6,000?