Ethereum Struggling Below $375, But 100 SMA Can Trigger A Fresh Rally

Ethereum Struggling Below $375, But 100 SMA Can Trigger A Fresh Rally


Ethereum started a steady decline from the $395 swing high against the US Dollar. ETH price is now trading just above the main $360 support and the 100 SMA (H4).

ETH price is showing a few bearish signs below $375 and $380 against the US Dollar. The price is still holding the $365 support and the 100 simple moving average (4-hours). There is a major declining channel forming with resistance near $372 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to rally above $375 as long as it is trading above the 100 SMA (H4). Ethereum Price is Facing Hurdles

After forming a major top near the $395 level, Ethereum started a steady decline against the US Dollar. ETH price broke the $380 and $375 support levels to move into a short-term bearish zone.

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Ether price tested the $360 level and it remained well bid above the 100 simple moving average (4-hours). A

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