Ethereum

Rally

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   Dec 08, 2023 at 11:23 // Price 
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   <div class="avatar" style="background-image:url(/upload/resize_cache/iblock/42a/60_60_1/42aa5ec847dba7f5a2bce5378ae70614.png)"></div> <span>Author<br>Coin Idol </span> 
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 <img class="page-news__main-pic lazy-load-detail-picture" src="https://coinidol.comdata:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAAAEAAAABCAQAAAC1HAwCAAAAC0lEQVR42mNkYAAAAAYAAjCB0C8AAAAASUVORK5CYII=" data-lazy-src="https://coinidol.com/upload/resize_cache/iblock/8ff/900_900_1/qbafxtgeu4pbsqle548jpyztvnhr9hcn.jpg" width="900" height="563" alt="Ether has broken through the $2,400 resistance zone" title=""> 
 <p><strong>The latest price <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> by Coinidol.com report, the Ethereum (ETH) price has risen to the $2,400 resistance level but then pulled back.</strong></p> 
 <h2 style="text-align: justify;" id="long-term-analysis-of-the-ethereum-price-bullish">Long-term analysis of the Ethereum price: Bullish </h2> 
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 <p style="text-align: justify;"> The altcoin has recorded a series of higher highs and higher lows. Ether has broken through the $2,400 resistance zone. Nonetheless, the positive trend has returned as the price of the cryptocurrency retests the $2,400 mark. According to the price forecast, Ether will reach a high of $2,495 or the 1.618 Fibonacci extension. The altcoin is in an overbought state as it remains below the $2,400 high. However, if the bulls can break through the current resistance levels, a recovery above $2,500 is possible. Once this hurdle is overcome, Ether will resume its upward momentum. It is predicted that the largest altcoin will re-enter the $3,000 price range. </p> 
 <h2 style="text-align: justify;" id="analysis-of-the-ethereum-indicators"> Analysis of the Ethereum&nbsp; indicators </h2> 
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 <p style="text-align: justify;"> The price of the cryptocurrency is bouncing below the $2,400 hurdle but is above the 21-day simple moving average. Ether is currently trading above the 21-day simple moving average, suggesting that the altcoin will continue to rise. However, the current upswing will be halted if the bears break below the 21-day SMA. The altcoin has reached the overbought area of the market. </p> 
 <p style="text-align: justify;"> <img width="1024" alt="ETHUSD_(Daily Chart) – Dec.08.23.jpg" src="https://cdn.thebittimes.com/images/2023/12/08/1306b83d89fb3ec30667ee065314182b.webp" height="511" title="ETHUSD_(Daily Chart) – Dec.08.23.jpg"><br> </p> 
 <h3 style="text-align: justify;" id="technical-indicators"> Technical indicators: </h3> 
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 <p style="text-align: justify;"> <b>Key resistance levels – $1,800 and $2,000 </b> </p> 
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 <p style="text-align: justify;"> <b> Key support levels – $1,600 and $1,400</b> </p> 
 <h2 style="text-align: justify;" id="what-s-next-for-ethereum"> What's next for Ethereum? </h2> 
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 <p style="text-align: justify;"> The largest altcoin is currently trading below the $2,400 resistance level. Buyers are rallying above the 21-day SMA or the current support and Ethereum is trading in a tight range between $2,350 and $2,400. Once the bulls break above the resistance at $2,400, the uptrend will resume. </p> 
 <p style="text-align: justify;"> <img width="1024" alt="ETHUSD_(4 Hour Chart) – Dec.08.23.jpg" src="https://cdn.thebittimes.com/images/2023/12/08/b7bb7729a8c122102e6d07cb29a42a49.webp" height="511" title="ETHUSD_(4 Hour Chart) – Dec.08.23.jpg"><br> </p> 
 <p style="text-align: justify;"> On December 4, 2023 cryptocurrency analytics specialists of Coinidol.com stated that the largest altcoin has risen to as high as $2,251.70 at the time of writing. The price of the cryptocurrency hit the $2,200 resistance level on December 2 and broke through it the next day.&nbsp; </p> 
 <p style="text-align: justify;"> <i><span style="color: #a0a0a0;">Disclaimer.&nbsp;This <a rel="dofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol.com. Readers should do their research before investing in funds.</span></i> </p> 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ethereum-pauses-below-2-400-and-resumes-its-rally-to-2-500-tbt73080.html">https://thebittimes.com/ethereum-pauses-below-2-400-and-resumes-its-rally-to-2-500-tbt73080.html</a></p>

Ethereum Pauses Below $2,400 And Resumes Its Rally To $2,500

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