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Cryptocurrency News Articles
ETHUSD Declined Slightly on Weak Market Sentiment, Currently Trading at around $2620
Aug 28, 2024 at 11:00 am
ETHUSD declined slightly on weak market sentiment. It hit a low of $2613 at the time of writing and is currently trading at around $2620
ETH price showed signs of weakness on Monday, declining 3.5% to trade at $2,620. However, the world’s second-largest cryptocurrency remained above a key support level at $2,600.
On the upside, ETH price faces immediate resistance at $2,800, which was a support level in March. A break above this level could push ETH price towards the next resistance at $3,000.
Further gains could lead ETH price to test the March high at $3,200. A break above this level would open the door for a rally towards $3,400.
On the downside, support for ETH price is seen at $2,600. A break below this level could trigger a sell-off towards the next support at $2,500.
If ETH price continues to fall, it could find support at $2,300, followed by $2,100. A break below this level would be bearish for ETH price.
Overall, ETH price is still in a bullish trend, but Monday’s decline suggests that the rally may be slowing. If ETH price fails to hold above $2,600, it could be vulnerable to a sell-off.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
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