Ethereum Price Back Above $2,500: Is a Bigger Move Coming?

Oct 7, 2024 04:00 am Cryptocurrency 33

Ethereum price started a fresh increase from the $2,300 support zone. ETH is rising and might aim for a move above the $2,550 resistance.

Ethereum started a decent increase above the $2,350 and $2,420 levels.

The price is trading above $2,420 and the 100-hourly Simple Moving Average.

There is a key bullish trend line forming with support at $2,435 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must clear the $2,525 and $2,550 resistance levels to continue higher in the near term.

Ethereum Price Aims Higher

Ethereum price remained stable above the $2,300 level and started a fresh increase. ETH was able to clear the $2,350 resistance to move into a positive zone like Bitcoin.

The price was able to climb above the $2,400 resistance zone. There was a move above the 50% Fib retracement level of the downward wave from the $2,656 swing high to the $2,310 low. Finally, the bulls pushed the ..

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