TA: Ethereum Avoids a Major Downtrend, Bulls Eye Crucial Breakout

TA: Ethereum Avoids a Major Downtrend, Bulls Eye Crucial Breakout


Ethereum started an upside correction above $1,250 against the US Dollar, following XRP rally. ETH could gain bullish momentum if it clears the $1,400 resistance.

Ethereum started a recovery wave above the $1,250 and $1,300 levels. The price is now trading above $1,300 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,385 on the hourly chart of ETH/USD (data feed via Kraken). The pair could recover further it clears the key $1,400 resistance zone. Ethereum Price Recovers

Ethereum managed to stay above the $1,220 support zone. ETH started an upside correction above the $1,250 level after ripple’s xrp started a strong upward move.

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Ether price was able to clear the $1,260 and $1,280

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