TA: Ethereum Shows Positive Signs But This Resistance Is The Key

TA: Ethereum Shows Positive Signs But This Resistance Is The Key


Ethereum started a recovery wave above the $2,820 level against the US Dollar. ETH must clear the $2,920 resistance to start a steady upward move.

Ethereum started a short-term upside correction above the $2,780 and $2,800 levels. The price is now trading above $2,820 and the 100 hourly simple moving average. There is a key rising channel forming with support near $2,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,885 and $2,920 resistance levels to continue higher. Ethereum Price Faces Hurdles

Ethereum formed a base above the $2,750 level and started a recovery wave. ETH was able to climb above the $2,780 and $2,800 levels.

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There was a clear move above the 50% Fib retracement

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