TA: Ethereum Prints Bullish Technical Pattern, Why Close Above $3,200 Is Critical

TA: Ethereum Prints Bullish Technical Pattern, Why Close Above $3,200 Is Critical


Ethereum fell to $2,930 before correcting higher against the US Dollar. ETH price is rising and a close above $3,200 could spark a strong recovery.

Ethereum extended decline and broke the $3,000 support zone. The price is trading below $3,200 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $3,110 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a major recovery wave if there is a close above $3,200. Ethereum Price Eyes Steady Recovery

Ethereum failed to climb above $3,200 and extended its decline. ETH declined below the $3,050 and $3,000 support levels to move further into a bearish zone.

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The price spiked towards $2,920 and

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