ETH/USD Price Analysis: October 19, 2024 – Trading at $2,640
Ethereum (ETH) is currently trading at $2,640, showing signs of consolidation as it navigates a key price range.
Key Levels:
Support: $2,500 - This level has acted as a strong foundation, with buyers stepping in during recent dips.
Resistance: $2,750 - ETH has struggled to break past this level, making it a key target for bulls in the coming days.
Entry Strategy:
Traders could consider a long entry near $2,500, with a stop-loss slightly below to protect against downside risks. A breakout above $2,750 could spark a bullish rally, potentially driving ETH toward $3,000.
With Ethereum in a consolidation phase, closely watching network developments and market sentiment could provide insights into the next big move. Keep these levels on your radar for potential opportunities in ETH/USD!
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