Ethereum Price Dips From $1,600 But ETH Could Start A Fresh Rally

Ethereum Price Dips From $1,600 But ETH Could Start A Fresh Rally


Ethereum struggled to clear the $1,600 resistance and corrected lower against the US Dollar. ETH could remains supported and might rise from the $1,500 support.

Ethereum is correcting gains from the $1,600 and $1,580 resistance levels. The price is now trading below $1,550 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $1,580 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise again if it stays above the $1,500 support zone. Ethereum Price Remains Supported For More Gains

Ethereum price struggled to clear the $1,600 resistance zone. ETH formed a high near $1,610 and started a fresh downside correction, similar to bitcoin from $21,500.

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