Ethereum Price Fails to Break Through — What’s Holding It Back?

Ethereum Price Fails to Break Through — What’s Holding It Back?

Ethereum price corrected gains and tested the $2,320 zone. ETH is now struggling and might decline toward the $2,220 support zone.


  • Ethereum started a correction from the $2,580 zone and tested $2,320.

  • The price is trading below $2,500 and the 100-hourly Simple Moving Average.

  • There is a connecting bearish trend line forming with resistance at $2,540 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could gain strength if it clears the $2,550 resistance in the near term.

  • Ethereum Price Dips Again


    Ethereum price struggled to clear the $2,520 resistance and started a downside correction, unlike Bitcoin. ETH traded below the $2,500 and $2,440 support levels.


    The bears were able to push the price below the 50% Fib retracement level of the upward move from the $2,308 swing low to the $2,509 high. The price even spiked below the $2,440 level, but the bulls were active near the $2,400 zone.


    The price is stable above ..

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