Ethereum Price Struggles Beyond $4K: Will the Bulls Return?

Dec 9, 2024 04:00 am Cryptocurrency 43

Ethereum price corrected gains from the $4,080 resistance zone. ETH is now trading below $4,000 and showing some bearish signs.

Ethereum started a downside correction from the $4,093 high.

The price is trading above $3,920 and the 100-hourly Simple Moving Average.

There was a break below a key bullish trend line with support at $3,965 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start a fresh increase if it stays above the $3,840 support zone.

Ethereum Price Corrects Some Gains

Ethereum price remained well-bid above the $3,750 support zone. ETH formed a base and started a fresh increase above $3,920 beating Bitcoin. The bulls were able to push the price above the $4,000 resistance.

The price tested the $4,080 resistance. A high was formed at $4,093 and the price started a downside correction. There was a ..

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