Ethereum

Resistance

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   Dec 23, 2023 at 06:19 // 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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 <p><strong>Ethereum (ETH) has held above the critical support level of $2,000 but is struggling to break through the $2,280 or $2,300 peak.</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>
 <p style="text-align: justify;">The largest altcoin has been trying to break above the $2,800 resistance in the last 48 hours. The recent price action saw Ether fall below the 21-day SMA to a low of $2,118, but the bulls bought the dips. Today, the price of the cryptocurrency surpassed the 21-day simple moving average. Ether will rise if the 21-day SMA support holds. If the first hurdle is cleared, Ether will reach its previous high of $2,400. A break above the $2,400 high, on the other hand, will send Ether to a high of $3,000. At the time of writing, Ether is valued at $2,291.20.</p>
 <h2 style="text-align: justify;" id="analysis-of-the-ethereum-indicators">Analysis of the Ethereum&nbsp; indicators</h2>
 <p style="text-align: justify;">Ether has regained its bullish momentum after rising above the 21-day simple moving average. The largest altcoin was trapped between the moving average lines for four days. Ether regains its positive momentum. The 21-day and 50-day simple moving averages have moved towards the uptrend.</p>
 <h3 style="text-align: justify;" id="technical-indicators">Technical indicators:</h3>
 <p style="text-align: justify;"><b>Key resistance levels – $2,000 and $2,200</b></p>
 <p style="text-align: justify;"><b>Key support levels – $1,800 and $1,600</b></p>
 <p style="text-align: justify;"><b><img width="1024" alt="ETHUSD_(Daily Chart) – Dec.22.jpg" src="https://cdn.thebittimes.com/images/2023/12/23/54b6dcadc6f6b0352d5b8683e9e4bdd1.webp" height="551" title="ETHUSD_(Daily Chart) – Dec.22, 2023"><br> </b></p>
 <h2 style="text-align: justify;" id="what-is-the-next-direction-for-ethereum">What is the next direction for Ethereum?</h2>
 <p style="text-align: justify;">Ether has rallied above the $2,200 support level but is approaching the $2,300 and $2,400 resistance levels. Analysts expect the altcoin to reach a high of $3,000 per coin if the current resistances are breached. Resistance at $2,300 is currently limiting the upward movement.</p>
 <p style="text-align: justify;"><img width="1024" alt="ETHUSD_(4-hour Chart) – Dec.22.jpg" src="https://cdn.thebittimes.com/images/2023/12/23/4b8b5a54aacc889bac09e6f8c7d9c9cb.webp" height="551" title="ETHUSD_(4-hour Chart) – Dec.22, 2023"><br></p>
 <p style="text-align: justify;"><i><span style="color: #959595;">Disclaimer. This <a rel="noopener noreferrer nofollow" 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.&nbsp;&nbsp;</span></i></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-price-rises-again-and-overcomes-the-2-300-hurdle-tbt74602.html">https://thebittimes.com/ethereum-price-rises-again-and-overcomes-the-2-300-hurdle-tbt74602.html</a></p>

Ethereum Price Rises Again And Overcomes The $2,300 Hurdle

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