Ethereum Price Weakens: Can It Defend the $2,500 Level?
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Ethereum's price is facing a downside correction from the $2,700 level, currently consolidating and struggling to sustain above the $2,500 support. It has fallen below the $2,650 level and the 100-hourly Simple Moving Average. A break below a bullish trend line at $2,620 indicates potential further declines.
Despite initial support at $2,520, the price may face resistance around $2,600 and again at $2,625. A successful hold above $2,625 may push it to $2,700, with subsequent resistance at $2,720.
Failure to maintain above $2,625 might push Ethereum down toward $2,450, potentially reaching $2,320 or $2,250 in an extreme case. Technical indicators reveal a bearish momentum, with the MACD gaining in the bearish zone and the RSI below 50.
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Bài viết tương tự (219)
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