Ethereum Price Battles to Bounce Back: Is a Recovery Coming?

Oct 23, 2024 04:00 am Cryptocurrency 12

Ethereum price struggled to continue higher above the $2,750 resistance and corrected gains. ETH is now struggling to start a fresh increase above $2,650.

Ethereum started a downside correction below the $2,650 support.

The price is trading below $2,650 and the 100-hourly Simple Moving Average.

There was a break above a connecting bearish trend line with resistance at $2,620 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start a fresh increase if it clears the $2,650 and $2,680 resistance levels.

Ethereum Price Starts Consolidation

Ethereum price started a downside correction from the $2,750 resistance like Bitcoin. ETH traded below the $2,700 and $2,650 support levels to enter a short-term bearish zone.

The price traded as low as $2,605 and is currently consolidating losses. There was a minor increase above the $2,620 level. The price traded close to the 23.6% ..

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