TA: Ethereum Revisits $2,400, Here’s What Could Trigger More Downsides

TA: Ethereum Revisits $2,400, Here’s What Could Trigger More Downsides


Ethereum failed to surpass $2,600 and started a fresh decline against the US Dollar. ETH price is holding the $2,400 support, but it is likely to face sellers near $2,550.

Ethereum made two attempts to gain strength above $2,625, but failed. The price is now trading well below $2,550 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $2,520 on the hourly chart of ETH/USD (data feed via Kraken). The pair mut stay above $2,400 to avoid more downsides in the near term. Ethereum Price Trims Gains

Ethereum climbed above the $2,550 and $2,580 resistance levels. However, ETH failed to gain strength above $2,620, resulting in a bearish reaction.

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There was a break below the $2,580 and $2,550 support levels. Besides, there a break below a key rising channel with support near $2,520 on the hourly chart of ETH/USD. The pair settled below the $2,550 support and

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