Ethereum Price Rejected at $2,400: What's Next?
Ethereum Price Rejected at $2,400: What's Next?
Ethereum price rejected at $2,400, sparking speculation about another breakout attempt. The primary keyword "ethereum price rejected 2400 another" is on everyone's mind.
Ethereum Price Analysis
Ethereum started a fresh surge, trading above $2,365, with a high formed at $2,417. The price is now consolidating, and if it clears $2,400, it might aim for more gains. The 100-hourly Simple Moving Average is currently at $2,300, and the bulls need to stay above this zone to attempt another increase.
Key Levels to Watch
- $2,360: Immediate resistance level
- $2,380: First key resistance level
- $2,400: Major resistance level
Technical Indicators
The Hourly MACD is losing momentum in the bullish zone, while the Hourly RSI is now below the 50 zone. These indicators suggest a potential downside correction if Ethereum fails to clear the $2,400 resistance.
Downside Risks
If Ethereum fails to clear the $2,400 resistance, it could start a downside correction. Initial support on the downside is near the $2,320 level, followed by the $2,300 zone.
Upside Potential
A clear move above the $2,400 resistance might send the price toward the $2,480 resistance. An upside break above the $2,480 region could call for more gains in the coming days, potentially reaching the $2,550 resistance zone or even $2,620 in the near term.
Key Takeaways
- Ethereum price rejected at $2,400, sparking speculation about another breakout attempt
- The bulls need to stay above the $2,300 zone to attempt another increase
- A clear move above the $2,400 resistance might send the price toward $2,480
- Initial support on the downside is near the $2,320 level
Frequently Asked Questions
What is the current Ethereum price?
The current Ethereum price is trading above $2,300, with a high formed at $2,417.
What are the key resistance levels for Ethereum?
The key resistance levels for Ethereum are $2,360, $2,380, and $2,400.
