Ethereum Price Maintains Uptrend Amid Correction
- Ethereum price extended gains above $2,250 and reached a high of $2,273 before correcting.
- ETH is now consolidating above $2,120 and trading above the $2,180 mark and the 100-hourly Simple Moving Average.
- A declining channel is forming with resistance at $2,225 on the hourly chart of ETH/USD.
- Major support levels are identified at $2,165 and $2,140.
Ethereum’s price movement shows resilience as it remains stable above key support levels despite a recent downside correction from its peak at $2,273. The current consolidation phase above $2,120 indicates potential for another upward move if resistance levels are cleared.
The Ethereum market may see further gains if it breaks through the resistance around $2,225 to $2,265 levels. This could push ETH toward higher targets like the $2,320 or even the $2,400 zone in the near term.
