Ethereum Price Retreats From Highs But Technicals Suggest Upside Continuation

Ethereum Price Retreats From Highs But Technicals Suggest Upside Continuation

Ethereum price is correcting gains from the $2,440 zone. ETH is correcting gains, but the bulls might remain active near the $2,300 and $2,240 support levels.


  • Ethereum is correcting gains and trading below the $2,400 level.

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

  • There is a bullish flag forming with resistance near $2,360 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 $2,400 level.

  • Ethereum Price Remains Supported


    Ethereum price climbed higher above the $2,320 resistance zone. ETH even broke the $2,400 level before the bears appeared. A high was formed near $2,441 before the price started a downside correction, like Bitcoin.


    There was a move below the $2,400 and $2,380 levels. The price declined and tested the 50% Fib retracement level of the upward wave from the $2,180 swing low to the $2,441 high. The bulls seem to be ..

    Support the originator by clicking the read the rest link below.