Ethereum Price Consolidates: Preparing for the Next Move Higher?

Oct 18, 2024 04:00 am Cryptocurrency 11

Ethereum price is consolidating gains above the $2,580 resistance. ETH could gain pace if it clears the $2,650 resistance zone.

Ethereum remained in a positive zone above the $2,550 and $2,580 resistance levels.

The price is trading above $2,600 and the 100-hourly Simple Moving Average.

There is a key bullish trend line forming with support near $2,600 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could continue to move up if it clears the $2,650 and $2,680 resistance levels.

Ethereum Price Aims For More Upsides

Ethereum price remained stable above the $2,550 pivot level like Bitcoin. ETH corrected some gains and tested the $2,550 support level. Recently, it started a fresh increase above the $2,580 and $2,600 resistance levels.

There was a move above the 50% Fib retracement level of the downward move from the $2,685 swing high to the $2,538 low. The bulls were able to push the price above the $2,620 resistance zone. Besides, ..

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