Ethereum Could Correct Gains, Why Dips Remain Attractive Near $530

Ethereum Could Correct Gains, Why Dips Remain Attractive Near $530


Ethereum started a strong surge above the $500 resistance against the US Dollar. ETH price traded as high as $562 and it is currently correcting gains.

ETH price traded to a new multi-month high near $562 against the US Dollar. The price is currently correcting lower below $550, but it is well above the 100 simple moving average (4-hours). There is a major bullish trend line forming with support near $495 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could correct lower, but dips are likely to remain attractive near $530 or $510. Ethereum Price is Showing Positive Signs

This past week, bitcoin and ethereum gained bullish momentum above $18,000 and $500 respectively against the US Dollar. ETH price surged further above the $520 resistance and settled well above the 100 simple moving average (4-hours).

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The upward move was such that there was a break above a key connecting resistance trend line at

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