Ethereum In A Holding Pattern: Will It Break Out To Higher Levels?

Jul 24, 2024 04:00 am Cryptocurrency 42

Ethereum price failed to continue higher above the $3,500 resistance zone. ETH corrected gains and is now trading in a range above the $3,400 level.

Ethereum is consolidating below the $3,500 resistance zone.

The price is trading below $3,480 and the 100-hourly Simple Moving Average.

There is a key declining channel forming with resistance at $3,470 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start a fresh increase if there is a clear move above the $3,500 resistance zone.

Ethereum Price Stuck In A Range Below $3,550

Ethereum price failed to extend gains above the $3,550 resistance zone. ETH corrected gains and traded below the $3,500 level like Bitcoin. The bears were able to push the price below the $3,450 level.

A low is formed near $3,390 and the price is rising. There was a move above the $3,420 level. The price climbed above the 50% Fib retracement level of the downward move ..

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