Ethereum's price has been stuck in a state of indecision between buyers and sellers, resulting in small candle formations and steady consolidation over
Ethereum’s price has been stuck in a state of indecision between buyers and sellers, resulting in small candle formations and steady consolidation over the past few months.
A significant support zone has emerged, encompassing the 100-day and 200-day moving averages at $1850 and $1792, respectively. If the price finds support within this range, it could trigger a strong upward movement, aiming to breach the $2K resistance level. The current price action indicates an attempt to breach the lower threshold of this range. However, the static support at $1.8K has played a significant role in preventing further downward movement. Notably, when the price approached this level, it triggered the formation of bullish candles and a minor rebound.
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