TA: Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level

TA: Ethereum Could Avoid a Major Downtrend if it Closes Above One Key Level


Ethereum declined heavily below the $3,250 support against the US Dollar. ETH price tested $3,000 before it attempted an upside correction.

Ethereum started another decline and traded below the $3,150 support zone. The price is trading below $3,250 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a major recovery wave if there is a clear move above $3,300. Ethereum Price Remains At Risk

Ethereum failed to clear the $3,350 resistance level and started another major decline. ETH declined below the $3,250 and $3,120 support levels to move further into a bearish zone.

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The price spiked towards

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