Ethereum Price Eyes Bullish Momentum: Is a Breakout Imminent?

Sep 11, 2024 04:00 am Cryptocurrency 34

Ethereum price is attempting a fresh increase wave above $2,300. ETH might gain bullish momentum if it clears the $2,400 resistance zone.

Ethereum is attempting a recovery wave above the $2,300 zone.

The price is trading above $2,330 and the 100-hourly Simple Moving Average.

There is a connecting bullish trend line forming with support at $2,335 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must clear the $2,400 resistance to continue higher in the near term.

Ethereum Price Eyes More Upsides

Ethereum price started a recovery wave above the $2,300 level. ETH was able to clear the $2,320 resistance zone to move into a positive zone like Bitcoin. However, the bears were active near the $2,400 resistance.

A high was formed at $2,398 and the price is now consolidating gains. There was a minor decline below ..

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