Ethereum Price Attempts a Comeback: Is a Rebound Imminent?

Dec 24, 2024 04:00 am Cryptocurrency 153

Ethereum price extended losses and dropped below the $3,450 zone. ETH is now recovering some losses and might rise if it clears the $3,445 resistance.

Ethereum started a fresh decline below the $3,500 zone.

The price is trading below $3,450 and the 100-hourly Simple Moving Average.

There was a break above a connecting bearish trend line with resistance at $3,300 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start a decent increase if it clears the $3,450 and $3,500 resistance levels.

Ethereum Price Stays Above $3,200

Ethereum price struggled to start a fresh increase above the $3,500 level and extended losses like Bitcoin. ETH gained bearish momentum below the $3,400 level and traded below $3,320.

The price is now consolidating above the $3,220 and $3,200 support levels. A low was formed at $3,220 and the price is now consolidating losses. There was a break above the $3,250 level. The price cleared the 50% Fib retracement level ..

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