Ethereum Price Climbs Gradually, Can Bulls Break $2,400 Barrier?
Ethereum price started a fresh increase and remained stable above $2,365. ETH is now consolidating and might aim for more gains if it clears $2,400. The first key resistance is near the $2,420 level. The next major resistance is near the $2,450 level. A clear move above the $2,450 resistance might send the price toward the $2,500 resistance. An upside break above the $2,500 region might call for more gains in the coming days. In the stated case, Ether could rise toward the $2,550 resistance zone or even $2,565 in the near term. If Ethereum fails to clear the $2,400 resistance, it could start a downside correction. Initial support on the downside is near the $2,345 level or the 50% Fib retracement level of the upward move from the $2,286 swing low to the $2,404 high. The first major support sits near the $2,330 zone. A clear move below the $2,330 support might push the price toward the $2,285 support. Any more losses might send the price toward the $2,250 region. The main support could be $2,200. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,330 Major Resistance Level – $2,400Another Decline In ETH?
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