Cryptocurrency is a high-risk asset class, and investing carries significant risk, including the potential loss of some or all of your investment. The information on this website is provided for informational and educational purposes only and does not constitute financial, investment, or trading advice. For more details, please read our editorial policy.
Ethereum (ETH) Price Struggles With Key Resistance Levels
September 17, 2024 19:00 1 min. readWe may earn commissions from affiliate links or include sponsored content, clearly labeled as such. These partnerships do not influence our editorial independence or the accuracy of our reporting. By continuing to use the site you agree to our terms and conditions and privacy policy.
Recently, Ethereum failed to overcome the $2,450 resistance, which led to a drop below $2,400 and $2,350, with a short-term low of $2,253.
Although it has attempted a minor recovery above $2,285, it is still below the $2,310 level and its 100-hour simple moving average (SMA). Resistance is building at $2,300 and the major barrier is at $2,360.
A break above $2,360 could push Ethereum towards $2,420, but failure to overcome this resistance could lead to further declines, with support levels at $2,265 and $2,250. A drop below $2,250 could see prices fall to $2,200 or even $2,150.
Technical indicators, including the relative strength index (RSI) below 50, reflect weak buyer activity, indicating that sellers are still dominating. The moving average convergence divergence (MACD) remains in the bearish zone, suggesting limited potential for a strong recovery.
Overall, the near-term outlook for Ethereum remains bearish unless it can overcome the $2,360 resistance. Continued bearish signals from both the RSI and MACD suggest there is little likelihood of a significant rebound, with further declines possible.
More from Ethereum Analysis
Ethereum Breaks Out After Pectra Upgrade — Is a Bigger Rally Brewing?
After months of sluggish performance, the second-largest cryptocurrency posted weekly gains above 30%, reclaiming key price levels and setting off a wave of liquidations across the market. Market veteran Peter Brandt has taken notice. In his latest technical review, he points to a long-brewing bullish formation — an ascending triangle — that stretches back several […]
Ethereum Flips the Script After Pectra Upgrade, Outpaces Bitcoin
Over the last two days, ETH has outperformed not only Bitcoin but most of the top digital assets, fueled by technical momentum and a successful network upgrade. A key driver behind the surge is Ethereum’s breakout against Bitcoin, where bullish formations have emerged on short-term charts—specifically, golden crosses that often hint at trend reversals. These […]
Bullish Signals and Whale Moves Push Ethereum Toward $4,000
Ethereum’s price has risen by 7.5% over the past week, showing signs of building momentum toward the $4,000 mark. A golden cross, a bullish technical indicator, and an RSI currently at 63.6 suggest the potential for continued gains. However, the market remains at a critical juncture where support and resistance levels will shape its trajectory. […]
Ethereum’s Bullish Momentum: Can ETH Reach $15,000 in 2025?
Ethereum (ETH) has experienced a solid 65% gain this year, but its price growth has been overshadowed by Bitcoin (BTC) and other major cryptocurrencies like Solana (SOL) and XRP. Despite this, analysts are increasingly optimistic about ETH’s future, with some predicting that the second-largest cryptocurrency could soon reach significant price milestones. Though Ethereum’s price rise […]
Popular News
-
1
Ethereum’s Uncertainty Grows as Solana Solidifies Its Dominance
22.11.2024 17:00 1 min. read -
2
Ethereum: $2,500 the Bears’ Next Target?
14.05.2024 18:30 2 min. read -
3
What Technical Indicators Show About the Price of Ethereum
06.06.2024 12:00 2 min. read -
4
Ethereum (ETH) Price Struggles With Key Resistance Levels
17.09.2024 19:00 1 min. read -
5
Ethereum Crash Alert: Analyst Predicts Potential Drop Below $1,200
05.09.2024 13:30 1 min. read