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Ethereum Price Reaches $2,500 Again: Will The Uptrend Hold?

20 September 2024
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Este artículo también está disponible en español.

Ethereum worth began a contemporary upward transfer above the $2,420 resistance. ETH traded near $2,500 and is now consolidating good points.

Ethereum began one other enhance from the $2,320 resistance.
The worth is buying and selling above $2,400 and the 100-hourly Easy Shifting Common.
There’s a connecting bullish pattern line forming with help at $2,385 on the hourly chart of ETH/USD (information feed by way of Kraken).
The pair should clear the $2,480 resistance to proceed larger within the close to time period.

Ethereum Worth Surges Over 8%

Ethereum worth remained well-supported and prolonged its enhance, beating Bitcoin. ETH was capable of clear the $2,350 and $2,420 resistance ranges.

There was a pointy transfer, and the worth gained almost 10%. It traded near the $2,500 resistance zone. A excessive was fashioned at $2,493 and the worth is now consolidating good points. There was a minor decline beneath the $2,460 degree. The worth examined the 23.6% Fib retracement degree of the upward transfer from the $2,277 swing low to the $2,493 excessive.

Ethereum worth is now buying and selling above $2,440 and the 100-hourly Easy Shifting Common. There may be additionally a connecting bullish pattern line forming with help at $2,385 on the hourly chart of ETH/USD. The pattern line is near the 50% Fib retracement degree of the upward transfer from the $2,277 swing low to the $2,493 excessive.

On the upside, the worth appears to be dealing with hurdles close to the $2,480 degree. The primary main resistance is close to the $2,500 degree. The following key resistance is close to $2,550.

Supply: ETHUSD on TradingView.com

An upside break above the $2,550 resistance may name for extra good points. Within the said case, Ether may rise towards the $2,650 resistance zone within the close to time period. The following hurdle sits close to the $2,750 degree or $2,800.

Are Dips Restricted In ETH?

If Ethereum fails to clear the $2,480 resistance, it may begin a draw back correction. Preliminary help on the draw back is close to $2,440. The primary main help sits close to the $2,385 zone and the pattern line zone.

A transparent transfer beneath the $2,385 help may push the worth towards $2,320. Any extra losses may ship the worth towards the $2,250 help degree within the close to time period. The following key help sits at $2,200.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is dropping momentum within the bullish zone.

Hourly RSI – The RSI for ETH/USD is now above the 50 zone.

Main Help Degree – $2,385

Main Resistance Degree – $2,500



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Tags: EthereumHoldPriceReachesUptrend
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