Ethereum failed to clear the $3,280 resistance and corrected lower against the US Dollar. ETH price must stay above $3,140 to avoid more downsides in the near term.
Ethereum seems to be facing a strong resistance near $3,280 and $3,300. The price is now trading below $3,200 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $3,185 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue lower if it fails to stay above the $3,140 support zone. Ethereum Price is Facing Hurdles
Ethereum made another attempt to gain strength above $3,260 and $3,280. However, ETH price failed to continue higher above $3,280 and started a downward move, similar to bitcoin.
The price broke the $3,220 and $3,200 support levels. There was also a break below a key bullish trend line with support near $3,185 on the hourly chart of ETH/USD. The