TA: Ethereum Fails Again At $1,150: Why Dips Could Be Limited

TA: Ethereum Fails Again At $1,150: Why Dips Could Be Limited


Ethereum started a decent increase above $1,080, but it failed again near $1,150 against the US Dollar. ETH price is consolidating and it could make another attempt to clear $1,150.

Ethereum is still struggling to clear the main $1,150 resistance zone. The price is now trading near the $1,100 zone and the 100 hourly simple moving average. There is a key ascending channel forming with support near $1,100 on the hourly chart of ETH/USD (data feed via Kraken). The pair could soon make another attempt to clear the $1,150 resistance level in the near term. Ethereum Price Testing Key Pivot Zone

There was a decent recovery wave in bitcoin, ethereum, ripple and other altcoins. ETH price formed a support base above the $1,000 level and recovered above the $1,050 level.

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There was also a break above a key bearish trend line with resistance near $1,060 on the hourly chart of ETH/USD. It opened the doors for more

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