TA: Ethereum Attempts Recovery But This Resistance Is The Key

TA: Ethereum Attempts Recovery But This Resistance Is The Key


Ethereum found support near $4,065 and started a recovery against the US Dollar. ETH could continue higher if there is a clear break above $4,350.

Ethereum started a recovery wave from the $4,065 support zone. The price is now trading above $4,250 and the 100 hourly simple moving average. There is a key rising channel forming with support near $4,240 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if there is a break below $4,240 and $4,200. Ethereum Price Eyes More Downsides

Ethereum found support above $4,050 and started an upside correction, similar to bitcoin. ETH price climbed above the $4,150 and $4,200 resistance levels to start a short-term recovery wave.

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