Ethereum extended its rise and traded close to $2,900 against the US Dollar. ETH price is correcting gains and it is likely to remain strong above the 100 hourly SMA
Ethereum failed to clear the $2,900 level and it corrected lower from $2,885. The price is still holding the $2,700 support and the 100 hourly simple moving average. There was a break below a short-term bullish trend line with support near $2,750 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a strong increase as long as there is no break below the 100 hourly SMA and $2,650. Ethereum Price Is Holding Support
Yesterday, ethereum started a fresh increase above the $2,650 resistance zone. ETH gained pace above the $2,700 and $2,750 levels. There was also a break above the $2,800 level and the 100 hourly simple moving average.
However, the price failed to continue higher above $2,900. A high was formed