However, the ETH price rejected a move above the $2,400 level for the second time, plotting a double-top pattern. A break of the current 21 EMA support at $2,265 might lead the price to initiate a bearish momentum and rally toward the $2,010 level.<\/p>\n\n\n\n
For a bullish outlook, Ethereum exceeding the $2.4K level might increase by an additional 5% before hitting the target price, allowing the altcoin to surge to $3,000.<\/p>\n","post_title":"BTC And Ethereum Technical Analysis: BTC Cools Off Its Bullish Momentum Near $42,392, And The ETH Can Retest The $2,010 Level In Early 2024","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"btc-and-ethereum-technical-analysis-btc-cools-off-its-bullish-momentum-near-42392-and-the-eth-can-retest-the-2010-level-in-early-2024","to_ping":"","pinged":"","post_modified":"2024-01-01 18:45:20","post_modified_gmt":"2024-01-01 07:45:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14846","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Ethereum is trading at $2,433, which recently broke through a critical $2,334 resistance level. The inverse head & shoulder formation, a well-known bullish pattern in the past, depends on this price point.<\/p>\n\n\n\n
However, the ETH price rejected a move above the $2,400 level for the second time, plotting a double-top pattern. A break of the current 21 EMA support at $2,265 might lead the price to initiate a bearish momentum and rally toward the $2,010 level.<\/p>\n\n\n\n
For a bullish outlook, Ethereum exceeding the $2.4K level might increase by an additional 5% before hitting the target price, allowing the altcoin to surge to $3,000.<\/p>\n","post_title":"BTC And Ethereum Technical Analysis: BTC Cools Off Its Bullish Momentum Near $42,392, And The ETH Can Retest The $2,010 Level In Early 2024","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"btc-and-ethereum-technical-analysis-btc-cools-off-its-bullish-momentum-near-42392-and-the-eth-can-retest-the-2010-level-in-early-2024","to_ping":"","pinged":"","post_modified":"2024-01-01 18:45:20","post_modified_gmt":"2024-01-01 07:45:20","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14846","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};