Altcoins News
By Maheen Hernandez
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ETH Attempts to Rebound, But Key Hurdles Remain. The price is currently trading close to $2,840, aligning with the 100-hourly Simple Moving Average…
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Price Chart Conditions Highlight a Critical Turning Point. Recent price action shows Ethereum consolidating around its 100-hourly SMA.
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Downside Risks if Ethereum Fails to Break Higher. If Ethereum is unable to surpass the $2,890 resistance, the market could see a renewed decline.
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What Traders Should Watch Next. Ethereum is currently at a technical crossroads. Traders should closely monitor:
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Short-Term Outlook. Ethereum’s price movement over the next few sessions will likely determine whether the asset…
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Ethereum’s recent attempt to extend its rally has slowed down after the price slipped below the $2,800 level.
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Ethereum’s correction mirrors the broader market trend, with Bitcoin also encountering resistance.
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The price is currently trading close to $2,840, aligning with the 100-hourly Simple Moving Average — a level that often acts as a short-term momentum indicator.
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The first significant resistance sits near $2,890, which also matches the 61.8% Fibonacci retracement level of the recent drop from the $3,058 swing high to the $2,621 low.
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Beyond this, the next resistance level lies at $2,920, followed by a stronger barrier near $2,950.
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If ETH manages to move above $2,960 and hold, the price could target the $3,020 resistance area.
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Recent price action shows Ethereum consolidating around its 100-hourly SMA. This reflects market indecision, with neither buyers nor sellers establishing full control.
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If bulls gain momentum and break above the mentioned resistance levels, ETH could reenter a positive trend. Conversely, repeated rejections could signal a weakening recovery.
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Should ETH drop below $2,800, additional support appears near the $2,720 zone. This level is critical because a breakdown below it may attract increased selling pressure.
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A move under $2,720 could pull the price toward $2,650, followed by the recent low around $2,620.
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