Ethereum Price Path to Recovery Blocked by Key Barriers
- February 05, 2025
- Source: https://www.newsbtc.com/analysis/eth/ethereum-price-barriers-2880/
Ethereum price started a recovery wave above the $2,550 zone. ETH is showing positive signs but faces many hurdles near the $2,880 level. Ethereum started a decent upward move above the $2,550 zone. The price is trading below $2,880 and the 100-hourly Simple Moving Average. There is a short-term declining channel forming with resistance at $2,800 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,880 level. Ethereum Price Recovery Faces Hurdles Ethereum price started a recovery wave after it dropped heavily below $2,500, underperforming Bitcoin. ETH tested the $2,120 zone and recently started a recovery wave. The price was able to surpass the $2,500 and $2,550 resistance levels. It even climbed above the 50% Fib retracement level of the downward move from the $3,402 swing high to the $2,127 swing low. However, the bears are now active near the $2,900 zone. The price failed to clear the 61.8% Fib retracement level of the downward move from the $3,402 swing high to the $2,127 swing low. There is also a short-term declining channel forming with resistance at $2,800 on the hourly chart of ETH/USD. Ethereum price is
Related News
Why is Ethereum (ETH) price up today?
- 2025-02-06 09:13:55
Why is Ethereum (ETH) price up today?
- 2025-01-24 10:37:23
Why is Ethereum (ETH) price up today?
- 2025-01-24 10:37:23
Why is Ethereum (ETH) price up today?
- 2025-01-24 10:37:23
Why is Ethereum (ETH) price up today?
- 2025-01-24 10:37:23
Why is Ethereum (ETH) price up today?
- 2025-01-24 10:37:23
Why is Ethereum (ETH) price up today?
- 2025-01-24 10:37:23
Why is Ethereum (ETH) price up today?
- 2025-01-24 10:37:23
Why is Ethereum (ETH) price up today?
- 2025-01-24 10:37:23
Post A Comment Here Or On Telegram
Log in to make a comment*