Ethereum Faces Resistance at $2,385 Amid Upward Momentum
- Ethereum price increased above the $2,320 zone and is now consolidating.
- ETH surpassed the $2,300 resistance and reached near $2,380.
- A bullish trend line is forming with support at $2,320 on the hourly chart of ETH/USD.
- Immediate resistance is near the $2,385 level or the Fib retracement level of the recent downward move.
- If ETH fails to clear $2,385 resistance, a decline could begin with support near $2,300.
Ethereum’s price momentum has been positive as it trades above key levels like $2,320 and its Simple Moving Average. However, facing resistance at $2,385 could lead to potential declines if not surpassed.
The critical takeaway is Ethereum’s struggle against the $2,385 resistance despite an upward trend from a base formed at $2,265. (Source)
