#EthereumPrice #ETH #Cryptocurrency #BearishTrend #CryptoMarket #ETHUSD #ResistanceZone #TradingView
Ethereum is persistently facing resistance at the $2,300 zone, having difficulty breaking through this threshold and illustrating possible bearish signs. This situation could potentially lead to a decline towards the $2,080 support level. Current trading patterns show Ethereum’s price below $2,260, along with a connecting bearish trend, all of which give credence to a possible extension in its decline if it remains below the $2,300 resistance zone.
Ethereum, much like Bitcoin, recently tested a new increase above the $2,200 mark. There was a positive upswing above $2,250 and $2,260 levels, but the bearish trend remained active near the $2,300 resistance zone. Despite the temporary upturn, there was then a trend reversal with a decline below the $2,250 level. Ethereum’s price is now lower than the $2,260 and the 100-hourly Simple Moving Average. The first significant resistance test remains at the $2,280 mark, followed by the critical hurdle at the $2,300 zone. If Ethereum can break the $2,300 resistance, it might start a reasonable increment, with the next resistance level expected at $2,400. However, a failure to overcome the $2,250 level could lead to another decline with the initial support around the $2,120 level.
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