Ethereum Price Retests Uptrend Support Amidst Market Turmoil
Ethereum Sinusuri muli ng Presyo ng Ethereum ang Uptrend na Suporta sa gitna ng kaguluhan sa merkado Balita ng Ethereum ng Bitcoin Pangunahing puntos: Ethereums price has encountered a downside correction, failing to clear the $1,975 resistance level. As a result, there has been a decline below $1,950, similar to Bitcoin, and even below the $1,920 support level. The price eventually spiked below $1,900, reaching a low of $1,894, and is now consolidating losses. Currently, the price is near the 23.6% Fib retracement level of the recent decline from the $1,974 swing high to the $1,894 low. Ether is now trading below $1,940 and the 100-hourly Simple Moving Average, indicating a bearish trend. On the hourly chart of ETH/USD, there is a key bearish trend line with resistance near $1,925. The immediate resistance level stands near the $1,925 level, which is the 100-hourly Simple Moving Average. The next major resistance level is at $1,945, which is close to the 61.8% Fib retracement level of the recent decline from the $1,974 swing high to the $1,894 low. However, if theres a clear move above the $1,945 resistance level, the price could be pushed toward $1,975. This could be a significant milestone for Ether as the main resistance