ETHEREUM PRICE STUCK IN A RANGE -

ARE BULLS READY TO BREAK OUT?

Ethereum's price is currently stuck in a range, trading below $2,550 and the 100-hourly Simple Moving Average. The cryptocurrency started a fresh decline below the $2,600 zone and is now consolidating losses. However, there are signs that the bulls might be ready to break out .

Key Levels to Watch:

- Support Level: $2,490, where a rising channel is forming on the hourly chart of ETH/USD

-Resistance Level: $2,620, which needs to be cleared for a potential fresh increase

- Major Support Level: $2,455.

-Major Resistance Level: $2,565

Technical Indicators:

-Hourly MACD: Losing momentum in the bearish zone.

Hourly RSI: Currently above the 50 zone, indicating a potential recovery

Potential Price Movement:

If Ethereum settles above the $2,620 resistance zone, it could start a fresh increase. Conversely, if it fails to break above this level, it may continue to consolidate losses and potentially test the $2,450 zone .

Current Price:Ethereum's current price is $2,547.57, with a 1.01% increase in the last 24 hours .#SwingTradingStrategy #XSuperApp #ETH $ETH