Ethereum

bullish

Bitcoin

Resistance

Challenge

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereum-battles-key-resistance-levels" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Battles Key Resistance Levels</a><br></p>
<p style="text-align: justify">Ethereum has been significantly impacted following the recent market downturn, but it is now showing signs of recovery. Analyst Rlinda suggests that if Ethereum can break through the resistance zone between $2,717 and $2,817, the price could surge to $4,000. However, failing to maintain these levels could lead to a pullback.</p>
<h2 id="resistance-levels-present-ongoing-challenge">Resistance Levels Present Ongoing Challenge</h2>
<p style="text-align: justify">Ethereum is grappling with a critical resistance zone between $2,717 and $2,817 on the daily chart. These levels have been tested multiple times recently, but the price consistently retreats, hovering around $2,500. Overcoming this resistance is essential for the bulls to sustain the upward trend.</p>
<p style="text-align: justify">Currently, Ethereum is trading near its 50-week moving average on the weekly chart, a historically strong support level. Additionally, the 200-week moving average sits at approximately $2,156, indicating Ethereum’s long-term upward potential.</p>
<h2 id="path-to-4-000-hinges-on-key-levels">Path to $4,000 Hinges on Key Levels</h2>
<p style="text-align: justify">Surpassing the resistance zone between $2,717 and $2,817 could set Ethereum on a trajectory toward $4,000, with $3,500 being an intermediate target. Failure to break these levels, however, might result in a fallback to around $2,500, with critical points at $2,425 and $2,400.</p>
<p style="text-align: justify">Recent market liquidations followed by quick recoveries suggest potential for upward movement. For the <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">bull market</a> to persist, Ethereum needs to reach and maintain the $3,000 level. Sustained consolidation beyond this threshold could enable new highs.</p>
<h2 id="key-takeaways-for-investors">Key Takeaways for Investors</h2>
<p style="text-align: justify">Investors should consider the following actionable insights:</p>
<ul>
 <li>Monitor the $2,717 to $2,817 resistance zone closely.</li>
 <li>Watch for sustained trading above $3,000 for bullish continuity.</li>
 <li>Be aware of critical support levels at $2,425 and $2,400.</li>
 <li>Track <a href="https://en.bitcoinhaber.net/experts-analyze-bitcoins-market-situation" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>’s movement, as it influences Ethereum’s trend.</li>
</ul>
<p style="text-align: justify">The <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> movement of Ethereum largely depends on how these resistance levels are navigated. A successful breach could make the $4,000 level a realistic short-term target. Conversely, failure to break through could lead to a market pullback. Bitcoin’s performance will also play a crucial role; a downward trend in Bitcoin could dampen Ethereum’s upward momentum.</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-battles-key-resistance-levels" data-wpel-link="internal" rel="noopener noreferrer nofollow">Ethereum Battles Key Resistance Levels</a></h5>

Ethereum Battles Key Resistance Levels

Table of Contents

BH NEWS

Other articles published on Aug 11, 2024

Morgan Stanley’s Bitcoin ETF push a ‘death wish,’ says former SEC official

Ripple Launches RLUSD Stablecoin: A New Era for Cross-Border Transactions on XRP Ledger and Ethereum

Experts Recommend MoonTaurus (MNTR) as the Top Investment for 2024 Amid Crypto Market Volatility

Meow Questions WBTC’s Future and BitGo Partnership

Justin Sun: I Don't Control Bitcoin (WBTC)

Jasmy and XRP on Explosive Brink: Key Indicators Signal Major Price Movements

Join our free newsletter for daily crypto updates!