TA: Ethereum Lacks Momentum Above $470: Why Bulls Are Comfortable

TA: Ethereum Lacks Momentum Above $470: Why Bulls Are Comfortable


Ethereum found support near the $440 level and settled above $450 against the US Dollar. ETH price is likely to gain momentum if there is a proper close above $470.

Ethereum is showing a few positive signs above the $450 and $452 support levels. The price is testing the $470 resistance and it is above the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $452 on the hourly chart of ETH/USD (data feed via Kraken). The pair could accelerate higher if there is a clear break and close above $470. Ethereum Price is Attempting Upside Break

Ethereum recovered from the $440 support level and it climbed back above $450. ETH price is now forming a support base near the $450 level and the 100 hourly simple moving average.

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The recent increase gained pace after there was a break above a major bearish trend line with resistance near $452 on

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