Ethereum Price Analysis: Market Strains Drag ETH Below $2,200; Can It Recover?

Moreover, the Moving Average Convergence Divergence (MACD) is positioned below the signal line, reinforcing the bearish trend observed in Ethereum’s recent price movements. This technical alignment suggests that the market is still in a downturn, which could be crucial for potential traders looking for entry points or existing investors planning their next moves. Ethereum’s struggle to maintain a foothold above the $2,300 mark is evident, with the price oscillating between $2,150.86 and $2,405.98 over the last day. ETH has strong support at $2,105.8 where price has held so far. This is a key area where buyers have come in to support the price in the past. This is a demand zone. On the flip side, ETH has immediate resistance at $2,373.0 which has been capping the recent up moves. If we break above this resistance, we could see a stronger recovery for ETH and potentially aim for $2,400.

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