Ethereum's Price Holds Steady Above $2,300 Amid Brief Correction

Ethereum's price has experienced a brief correction after reaching a high of $2,417 earlier in the week. Despite this setback, the cryptocurrency remains above $2,300, with its 100-hourly simple moving average providing support.

The correction saw Ethereum slip below $2,320 and into the 50% Fibonacci retracement of its recent climb from $2,180 to $2,417. Traders are now watching the $2,360 trendline for signs of a potential breakout or reversal.