Ethereum Price Stages a Comeback, But Lacks the Bullish Punch

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	298,042,711,418	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

298,042,711,418

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-29.04	-1.16%	2,484.50	2,484.81	2,485.00

Price Change

Price Change %

Current Price

Bid Price

Offer

-29.04

-1.16%

2,484.50

2,484.81

2,485.00

High Price	Low Price	Open Price	Prev. Close	52 Week Range
2,516.27	2,458.83	2,511.99	2,513.54	1,520.85 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

2,516.27

2,458.83

2,511.99

2,513.54

1,520.85 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
BSTP	10:20:36	0.019643	2,484.40	USD

Exchange

Last Trade

Size

Trade Price

Currency

BSTP

10:20:36

0.019643

2,484.40

USD

Price x Volume	Volume	Base Symbol	Related Pairs
28,332,540.43	11,409.97	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

28,332,540.43

11,409.97

Ethereum Price Stages a Comeback, But Lacks the Bullish Punch

30/08/2024 4:28am

NEWSBTC

Ethereum price started a recovery wave from the $2,400 zone. ETH is now struggling to gain pace for a move above the $2,600 resistance zone. Ethereum started a recovery wave above $2,500 and $2,550. The price is trading below $2,550 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance at $2,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above $2,485 to start another increase in the near term. Ethereum Price Attempts Recovery Ethereum price remained stable above $2,400 and attempted a recovery wave like Bitcoin. The price was able to rise above the $2,480 and $2,500 resistance levels. There was a move above the 23.6% Fib retracement level of the downward wave from the $2,792 swing high to the $2,395 low. The price even surpassed the $2,550 resistance. There was a break above a key bearish trend line with resistance at $2,550 on the hourly chart of ETH/USD. However, the bears were active near the $2,600 resistance. They protected the 50% Fib retracement level of the downward wave from the $2,792 swing high to the $2,395 low. Ethereum price is now trading below $2,580 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,550 level and the 100-hourly Simple Moving Average. The first major resistance is near the $2,600 level. A close above the $2,600 level might send Ether toward the $2,660 resistance. The next key resistance is near $2,720. An upside break above the $2,720 resistance might send the price higher toward the $2,820 resistance zone in the near term. Another Decline In ETH? If Ethereum fails to clear the $2,600 resistance, it could start another decline. Initial support on the downside is near $2,500. The first major support sits near the $2,485 zone. A clear move below the $2,485 support might push the price toward $2,420 where the bulls could emerge. Any more losses might send the price toward the $2,320 support level in the near term. The next key support sits at $2,250. 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 – $2,485 Major Resistance Level – $2,600

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