Ethereum Price Could Start 2024 With A Strong Increase If It Holds This Support

Jan 1, 2024 04:01 am Cryptocurrency 187

Ethereum price is correcting gains below the $2,350 zone. ETH could attempt a fresh increase unless there is a close below the $2,200 support.

Ethereum is correcting gains and trading below the $2,350 level.

The price is trading below $2,320 and the 100-hourly Simple Moving Average.

There is a key bearish trend line forming with resistance near $2,300 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start a fresh increase if there is a close above the $2,350 level.

Ethereum Price Eyes Fresh Increase

Ethereum price struggled to clear the $2,440 resistance zone and started a fresh decline. ETH declined below the $2,350 support zone to move into a short-term bearish zone, like Bitcoin.

There was a close below the $2,320 level. A low was formed near $2,258 and the price is now consolidating losses. Ethereum is now trading below $2,320 and the ethereum price could start strong increase holds support