TA: Ethereum Plunges to $1,550: Can Bulls Save the Day?

TA: Ethereum Plunges to $1,550: Can Bulls Save the Day?


Ethereum corrected lower below $1,650 against the US Dollar. ETH must stay above the $1,550 support zone to avoid a sharp bearish reversal.

Ethereum started a key downside correction and traded below the $1,650 level. The price is now trading below $1,650 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $1,700 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $1,550 support to start a fresh increase in the near term. Ethereum Price Dips Over 6%

Ethereum failed to stay above the $1,750 and $1,720 levels. ETH reacted to the downside below the $1,700 level and the 100 hourly simple moving average.

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The price declined over

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