{"id":650177,"date":"2024-10-28T03:28:27","date_gmt":"2024-10-28T03:28:27","guid":{"rendered":"https:\/\/uniquehot.com\/?p=650177"},"modified":"2024-10-28T03:10:20","modified_gmt":"2024-10-28T03:10:20","slug":"ethereum-price-lacks-traction-2520","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-lacks-traction-2520\/","title":{"rendered":"Ethereum Price Lacks Traction: Can It Overcome The Slowdown?"},"content":{"rendered":"<p><em>Ethereum price extended losses and tested the $2,380 support zone. ETH is recovering losses and struggling to gain pace for a move above the $2,5250 level.<\/em><\/p>\n<ul>\n<li>Ethereum started a recovery wave from the $2,380 zone.<\/li>\n<li>The price is trading below $2,500 and the 100-hourly Simple Moving Average.<\/li>\n<li>There is a short-term rising channel forming with support at $2,480 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a fresh increase if it clears the $2,520 and $2,550 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Aims Higher<\/h2>\n<p>Ethereum price extended its decline below the $2,250 level unlike <a href=\"https:\/\/uniquehot.com\/analysis\/btc\/bitcoin-price-rise-68k\/\" target=\"_blank\" rel=\"noopener \">Bitcoin<\/a>. ETH traded as low as $2,379 and recently started an upside correction.<\/p>\n<p>There was a minor increase above the $2,420 level. The price traded above the 50% Fib retracement level of the downward wave from the $2,562 swing high to the $2,379 low. The bulls even pushed the price above the $2,500 resistance but struggled near $2,520.<\/p>\n<p>Ethereum price is now trading below $2,500 and the <a href=\"https:\/\/uniquehot.com\/analysis\/eth\/ethereum-price-battles-2560\/\" target=\"_blank\" rel=\"noopener \">100-hourly Simple Moving Average<\/a>. There is also a short-term rising channel forming with support at $2,480 on the hourly chart of ETH\/USD.<\/p>\n<p>On the upside, the price seems to be facing hurdles near the $2,520 level and the 100-hourly Simple Moving Average. It is close to the 76.4% Fib retracement level of the downward wave from the $2,562 swing high to the $2,379 low.<\/p>\n<figure id=\"attachment_650178\" aria-describedby=\"caption-attachment-650178\" style=\"width: 1024px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Ethereum_ff63fa.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-650178 size-full\" src=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Ethereum_ff63fa.png?resize=1024%2C478\" alt=\"Ethereum Price\" width=\"1024\" height=\"478\" srcset=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Ethereum_ff63fa.png?w=1835 1835w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Ethereum_ff63fa.png?w=460 460w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Ethereum_ff63fa.png?w=768 768w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Ethereum_ff63fa.png?w=860 860w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Ethereum_ff63fa.png?w=1536 1536w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Ethereum_ff63fa.png?w=750 750w, https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/10\/Ethereum_ff63fa.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-650178\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<p>The first major resistance is near the $2,550 level. The main resistance is now forming near $2,600. A clear move above the $2,600 resistance might send the price toward the $2,650 resistance. An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,750 resistance zone.<\/p>\n<h2>Another Decline In ETH?<\/h2>\n<p>If Ethereum fails to clear the $2,520 resistance, it could start another decline. Initial support on the downside is near the $2,480 level. The first major support sits near the $2,420 zone.<\/p>\n<p>A clear move below the $2,420 support might push the price toward $2,380. 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.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is now near the 50 zone.<\/p>\n<p>Major Support Level \u2013 $2,450<\/p>\n<p>Major Resistance Level \u2013 $2,520<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price extended losses and tested the $2,380 support zone. ETH is recovering losses and struggling to gain pace for a move above the $2,5250 level. Ethereum started a recovery wave from the $2,380 zone. The price is trading below $2,500 and the 100-hourly Simple Moving Average. There is a short-term rising channel forming with support at $2,480 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $2,520 and $2,550 resistance levels. Ethereum Price Aims Higher Ethereum price extended its decline below the $2,250 level unlike Bitcoin. ETH traded as low as $2,379 and recently started an upside correction. There was a minor increase above the $2,420 level. The price traded above the 50% Fib retracement level of the downward wave from the $2,562 swing high to the $2,379 low. The bulls even pushed the price above the $2,500 resistance but struggled near $2,520. Ethereum price is now trading below $2,500 and the 100-hourly Simple Moving Average. There is also a short-term rising channel forming with support at $2,480 on the hourly chart of ETH\/USD. On the upside, the price seems to be facing hurdles near the $2,520 level and the 100-hourly Simple Moving Average. It is close to the 76.4% Fib retracement level of the downward wave from the $2,562 swing high to the $2,379 low. The first major resistance is near the $2,550 level. The main resistance is now forming near $2,600. A clear move above the $2,600 resistance might send the price toward the $2,650 resistance. An upside break above the $2,650 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $2,750 resistance zone. Another Decline In ETH? If Ethereum fails to clear the $2,520 resistance, it could start another decline. Initial support on the downside is near the $2,480 level. The first major support sits near the $2,420 zone. A clear move below the $2,420 support might push the price toward $2,380. 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 \u2013 The MACD for ETH\/USD is losing momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is now near the 50 zone. Major Support Level \u2013 $2,450 Major Resistance Level \u2013 $2,520<\/p>\n","protected":false},"author":67,"featured_media":650179,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83362],"tags":[65296,1946,8686,78803],"class_list":["post-650177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-eth","tag-ethbtc","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n<title>Ethereum Price Lacks Traction: Can It Overcome The Slowdown?<\/title>\n<meta name=\"description\" content=\"Ethereum price extended losses and tested the $2,380 support zone. 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