Ethereum Price Eyes Recovery—Can ETH Kick Off a Fresh Upside Move? 📈
Ethereum price initiated a decline, testing the $2,450 zone, and is now correcting those losses. Trading around $2,575 with the 100-hourly Simple Moving Average, a break above $2,620 may result in further gains. A move above this zone could propel ETH towards the $2,720 or even $2,880 resistance in the near term.
If Ethereum fails to surpass the $2,620 resistance, it might decline, with initial support near $2,540 and major support at $2,500. Additional losses could push it towards $2,420, with technical indicators showing the hourly MACD gaining bullish momentum and RSI above the 50 zone.
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