TA: Ethereum Recovers But ETH Must Clear This Key Resistance

TA: Ethereum Recovers But ETH Must Clear This Key Resistance


Ethereum started a recovery wave above the $2,800 level against the US Dollar. must clear the $2,850 resistance to continue higher in the near term.

Ethereum started a decent recovery wave above the $2,780 and $2,800 levels. The price is consolidating above $2,820 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $2,750 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,850 and $2,860 resistance levels to continue higher. Ethereum Price Faces Resistance

Ethereum followed a bearish path below the $2,850 pivot level. ETH even traded below the $2,800 support level and the 100 hourly simple moving average.

Trending: BREAKING: Read Why Elon Musk Halted His $44 Billion Purchase Of Twitter

It traded as low as $2,718 before

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend