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

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


Ethereum reacted to the downside and retested $4,050 against the US Dollar. ETH must recover above $4,250 and $4,300 to start a steady recovery wave.

Ethereum started a fresh decline from the $4,350 resistance zone. The price is now trading below $4,250 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $4,210 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it fails to stay above the $4,050 support zone. Ethereum Price Is Facing Hurdles

Ethereum attempted a recovery wave above the $4,300 resistance zone, similar to bitcoin. However, ETH price failed to extend gains above the $4,350 level.

Trending: Looney Bette Midler Wants Trump Arrested for ‘Trying to Kill’ Biden

A high was formed near $4,320 and the

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend