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The post <a href="https://cryptosnewss.com/ethereums-price-rises-alongside-bitcoin-but-faces-resistance-at-key-levels/" rel="noopener noreferrer nofollow">Ethereum’s Price Rises Alongside Bitcoin, but Faces Resistance at Key Levels</a> appeared first on <a href="https://cryptosnewss.com/" rel="noopener noreferrer nofollow">Cryptos Newss</a>.Ethereum has been tracking <a href="https://cryptosnewss.com/bitcoin-price-surges-past-68000-analysts-predict-strong-uptrend/" rel="noopener noreferrer nofollow">Bitcoin’s recent price surge</a>, seeing growth above $2,550 and remaining above the 100-hour Simple Moving Average.However, its momentum appears to be weaker than Bitcoin’s, facing resistance at $2,650.Following Bitcoin’s upward trend, Ethereum’s price initially climbed past $2,550. The increase in value aligns with Bitcoin’s rally, which has bolstered broader market sentiment.However, analysts observe that while Bitcoin&#39;s momentum continues to strengthen, Ethereum’s progress is more tempered. The 100-hour Simple Moving Average currently supports Ethereum&#39;s price, offering a stable foundation near the $2,550 level.Despite this, <a href="https://cryptosnewss.com/ethereum-futures-market-at-risk-short-squeeze-looms-as-leverage-hits-dangerous-levels/" rel="noopener noreferrer nofollow">Ethereum</a> faces resistance near $2,650. Market experts believe that breaking through this barrier could set the stage for additional gains, potentially aiming for a high of $2,880.This scenario depends on Ethereum’s ability to mirror or surpass Bitcoin’s growth rate, especially given the cryptocurrency market’s volatility and rapid price changes.A failure to overcome this resistance could lead to a market correction, with essential support levels resting around $2,550 and $2,520. Should prices dip below these, analysts warn that Ethereum could see further declines.Ethereum’s next move will depend heavily on whether it can break the current resistance and follow Bitcoin’s lead. Investors and traders should watch the $2,650 resistance closely, as a breakthrough could indicate a sustained bullish trend.Alternatively, if resistance holds, Ethereum may face consolidation or a pullback, creating opportunities for traders to reassess their strategies.The post <a href="https://cryptosnewss.com/ethereums-price-rises-alongside-bitcoin-but-faces-resistance-at-key-levels/" rel="noopener noreferrer nofollow">Ethereum’s Price Rises Alongside Bitcoin, but Faces Resistance at Key Levels</a> appeared first on Cryptos Newss.

Ethereum’s Price Rises Alongside Bitcoin, but Faces Resistance at Key Levels

Cryptos Newss

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