Ethereum Price Looks Ready For Another Leg Higher Over If It Holds Support

May 9, 2024 04:00 am Cryptocurrency 404

Ethereum price is extended losses and tested the $2,940 support. ETH could start a fresh increase if it clears the $3,000 and $3,030 resistance levels.

Ethereum remained in a bearish zone and traded below the $3,000 level.

The price is trading below $3,050 and the 100-hourly Simple Moving Average.

There was a break above a key bearish trend line with resistance at $2,980 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must stay above the $2,940 support to start another increase toward $3,220.

Ethereum Price Dips Below $3K

Ethereum price remained in a bearish zone and extended losses below the $3,050 level, like Bitcoin. ETH bears were able to push the price below the $3,000 level.

A low was formed at $2,936 and the price is now consolidating losses. Ethereum is trading below $3,050 and the 100-hourly Simple Moving ..

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