Ethereum Price Stagnation Key Factors

Ethereum Struggles Below Key Resistance Levels

• Ethereum corrected from the $2,580 zone and tested the $2,320 level.
• The price is trading below $2,500 and the 100-hourly Simple Moving Average.
• A bearish trend line is forming with resistance at $2,540 on the ETH/USD hourly chart.
• Key resistance levels are at $2,500 and $2,550.
• Major support levels are at $2,400 and potentially down to $2,220.

Ethereum’s price correction saw it test the $2,320 level. It remains below key resistance levels of $2,500 and faces potential declines toward a support zone near $2,220 if it fails to break through these barriers.