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Ethereum Price Recovery May Stall Near 100-SMA: Is a Drop Coming?
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 ... (full story)
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- Posted: Sep 8, 2024 11:39pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 155
