Ethereum Price Signals Fresh Increase Unless Fails To Surpass $3,080

May 10, 2024 04:00 am Cryptocurrency 77

Ethereum price started a recovery wave from the $2,940 support. ETH could gain bullish momentum if it clears the $3,055 and $3,080 resistance levels.

Ethereum found support near $2,940 and started a steady increase.

The price is trading near $3,030 and the 100-hourly Simple Moving Average.

There was a break above a major bearish trend line with resistance at $2,990 on the hourly chart of ETH/USD (data feed via Kraken).

The pair must surpass the $3,080 resistance to continue higher in the near term.

Ethereum Price Holds Support

Ethereum price extended losses below the $3,000 level, like Bitcoin. Finally, the bulls appeared near the $2,940 and ETH started a recovery wave. A low was formed at $2,936 and the price started an upside correction.

There was a decent increase above the $2,980 level. The price cleared the 23.6% Fib retracement level of the downward move from the $3,218 swing high to the $2,936 low. Besides, there was a break ..

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