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BTCUSD Bitcoin

62,539.41

317.35 (0.51%)

12:36:02 - Realtime Data

Name	Symbol	Market	Market Cap ($)	Algorithm
Bitcoin	BTCUSD	Crypto	1,234,518,651,973	SHA-256d

	Price Change	Price Change %	Current Price	Bid Price	Offer
	317.35	0.51%	62,539.41	62,539.73	62,540.64

High Price	Low Price	Open Price	Prev. Close	52 Week Range
62,811.25	61,976.74	62,307.43	62,222.06	26,521.32 - 73,835.57

Exchange	Last Trade	Size	Trade Price	Currency
CRTO	12:36:02	0.000110	62,545.35	USD

Price x Volume	Volume	Base Symbol	Related Pairs
239,492,289.12	3,835.82	BTC	BTCEUR	BTCGBP	ETHBTC

Ethereum Price Dips Again: Is This a Buying Opportunity?

08/10/2024 4:28am

NEWSBTC

Ethereum price extended its increase above the $2,500 zone. ETH is now correcting gains and might find support near the $2,400 zone. Ethereum started a downside correction from the $2,520 zone. The price is trading below $2,450 and the 100-hourly Simple Moving Average. There was a break below a key bullish trend line with support at $2,450 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $2,400 support level to start another increase in the near term. Ethereum Price Corrects Gains Ethereum price extended its upward move above the $2,400 level. ETH was able to clear the $2,450 resistance to move into a positive zone like Bitcoin. The price was able to climb above the $2,500 resistance zone. However, the bears were active above $2,500. A high was formed at $2,519 and the price started a downside correction. There was a move below the $2,450 support level. The price dipped below the 23.6% Fib retracement level of the upward move from the $2,311 swing low to the $2,519 high. Besides, there was a break below a key bullish trend line with support at $2,450 on the hourly chart of ETH/USD. Ethereum price is now trading below $2,450 and the 100-hourly Simple Moving Average. However, the bulls are protecting the 50% Fib retracement level of the upward move from the $2,311 swing low to the $2,519 high. On the upside, the price seems to be facing hurdles 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 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,580 resistance zone in the near term. The next hurdle sits near the $2,650 level or $2,665. More Losses In ETH? If Ethereum fails to clear the $2,450 resistance, it could start another decline. Initial support on the downside is near the $2,420 level. The first major support sits near the $2,400 zone. A clear move below the $2,400 support might push the price toward $2,320. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,120. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now below the 50 zone. Major Support Level – $2,400 Major Resistance Level – $2,450

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