TA: Ethereum Consolidates, What Could Trigger Strong Recovery in ETH

TA: Ethereum Consolidates, What Could Trigger Strong Recovery in ETH


Ethereum restarted its decline after it failed to stay above $2,000 against the US Dollar. ETH price is holding the $1,880 support, but it must clear $2,000 for a decent increase.

Ethereum started a fresh decline and it once again tested the $1,880 support zone. The price is still trading well below the $2,000 resistance and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,955 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if it clears the $1,965 and $2,000 resistance levels. Ethereum Price Settles Below $2K

After a failed attempt to settle above $2,000, ethereum extended its decline, similar to bitcoin. ETH price broke the $1,920 support and it settled well below the 100 hourly simple moving average.

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However, the price stayed above the $1,880 support. A low was formed near $1,861 and the price recently started an

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