Crypto
Ethereum Price Plunges Below $2350: Key Resistance Levels Hold Recovery Back
Ethereum's price decline has intensified after breaking below $2,350. The cryptocurrency found support at $2,000 but faces significant technical hurdles in its recovery attempt.
The ETH price broke below the $2,320 support zone, and currently trades below both the $2,220 level and the 100-hourly Simple Moving Average, indicating bearish control of the market.
A break above a connecting bearish trend line with resistance at $2,080 on the hourly chart of ETH/USD represents a minor bullish development amid the broader downtrend.
To initiate any meaningful recovery, Ethereum must clear both the $2,230 and $2,275 resistance levels, which represent critical barriers to upward momentum.