Ethereum Fights To Hold $2,300 After Bulls Stall At Resistance
ETH
BULLISH
CHAIR
RES
READ
Ethereum(ETH) slipped below $2,350 after stalling near $2,400, and traders now watch the $2,360 trendline for the next directional cue.
ETH Price Holds $2,300
Ethereum pared recent gains on Thursday after sellers defended the $2,400 region, capping a rally that had pushed the second-largest cryptocurrency through $2,320 and $2,350. The swing high printed at $2,417 before the pair rolled over.
The correction carried price under $2,320 and into the 50% Fibonacci retracement of the climb from the $2,180 low to that $2,417 peak.
ETH is still trading above $2,300 and the 100-hourly simple moving average.
Also Read:Why Is America's Next Fed Chair Being Forced To Sell All His Crypto Before Tuesday
Resistance Levels
A clean break above $2,420 would open a path toward $2,450, with further upside pointing to the $2,500 to $2,550 band in the near term. Failure at $2,360 flips the bias, with $2,295 as first support and $2,265 below it.
The MACD is losing momentum in bullish territory, while the RSI has slipped under 50, signaling fading short-term drive.
The pullback follows a stronger stretch for Ethereum, which gained more than 12% over the past 30 days and outperformed every other top-10 asset. Network activity jumped 41% week over week to roughly 3.6 million daily transactions, and Ethereum ETFs pulled $187 million in weekly inflows as Bitcoin funds bled $325 million on Apr. 13.
Read Next:Bitcoin Inflows To Binance Hit 2020 Lows, Signaling Tighter Supply Ahead
