TA: Ethereum At Risk of A Sharp Decline If It Breaks $365 Support

TA: Ethereum At Risk of A Sharp Decline If It Breaks $365 Support


Ethereum faced a strong rejection above $380 against the US Dollar. ETH price is now at a risk of a sharp decline if it breaks the key $365 support in the near term.

Ethereum struggled to gain momentum above the $380 and $382 levels. The price declined sharply below the 100 hourly simple moving average, and retested $365. There is a key bearish trend line forming with resistance near $378 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline heavily if there is a clear break below the $365 support level. Ethereum Price Showing Bearish Signs

Ethereum started a steady decline from well above the $385 level. ETH price faced a strong resistance near the $380 and $382 levels, resulting in a drop below the $375 support.

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Ether price even broke the $370 support and settled well below the 100 hourly simple moving average. It retested the key $365 support level and it is

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