Ethereum

Bitcoin

Resistance

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-struggles-below-3000-as-altcoins-surge">Ethereum Struggles Below $3,000 as Altcoins Surge</a><br></p>
<p style="text-align: justify">The crypto market has recently been a hotbed of excitement, particularly for altcoins that have seen considerable price surges as <a href="https://en.bitcoinhaber.net/anticipation-builds-for-the-approval-of-spot-bitcoin-etfs">Bitcoin</a> moves sideways. Ethereum, among the leading altcoins, experienced a price hike surpassing the $3,000 threshold. However, the digital currency has now retreated below this significant marker, posing questions about its upcoming market behavior.</p> 
<h2 id="ethereum-s-price-correction-and-market-speculations">Ethereum’s Price Correction and Market Speculations</h2> 
<p style="text-align: justify">Ethereum’s price gains witnessed a rollback after breaching the $3,000 resistance, prompting speculations on its immediate future. The descent has been noticeable, but the cryptocurrency appears to be stabilizing above a support level of $2,865, suggesting that the decline might be contained.</p> 
<p style="text-align: justify">The trading price of Ethereum is now hovering around $2,900, still above the 100-hour Simple Moving Average—a bullish sign. Despite this, a bearish trend line with resistance at $2,950 has formed on the hourly chart of ETH/USD, signaling potential hurdles ahead.</p> 
<h2 id="technical-insights-and-resistance-challenges">Technical Insights and Resistance Challenges</h2> 
<p style="text-align: justify">Technical analysts posit that Ethereum could rebound, provided the price doesn’t fall below the $2,865 mark. Nonetheless, a solid effort is required to break past the $3,000 resistance once more. A drop below the $2,900 level may trigger a steeper descent, but the $2,865 support is anticipated to hold firm.</p> 
<p style="text-align: justify">Current technical indicators display a deceleration in bullish momentum, as evidenced by the hourly MACD for ETH/USD. The RSI for Ethereum is fluctuating around the midpoint at 50. Presently, the main resistance is seen at $2,975, with critical support at $2,900. Considering the volatile nature of the cryptocurrency market, Ethereum’s path forward remains uncertain, necessitating vigilant market observation by investors.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereum-struggles-below-3000-as-altcoins-surge">Ethereum Struggles Below $3,000 as Altcoins Surge</a></h5>

Ethereum Struggles Below $3,000 as Altcoins Surge

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