TA: Ethereum Holds Key Support, What Could Trigger Sharp Rally

TA: Ethereum Holds Key Support, What Could Trigger Sharp Rally


Ethereum stayed above the $3,400 support zone against the US Dollar. ETH price must clear $3,540 to start a fresh rally in the near term.

Ethereum remained well supported above the $3,400 and $3,380 levels. The price is now trading near $3,520 and the 100 hourly simple moving average. There is a major declining channel forming with resistance near $3,520 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally if there is a clear break above $3,540 and $3,550. Ethereum Price Could Turn Green

Ethereum started a fresh decline from the $3,600 resistance zone. ETH traded below the $3,500 support and the 100 hourly simple moving average. However, the bulls remained active near the $3,400

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