TA: Ethereum Signals Recovery, How ETH Could Start A Strong Increase

TA: Ethereum Signals Recovery, How ETH Could Start A Strong Increase


Ethereum extended its decline and it traded close to $2,300 against the US Dollar. ETH price is now recovering and it could start a strong increase if it clears $2,550.

Ethereum extended its decline below the $2,400 and $2,300 support levels. The price is now well below $2,600 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,480 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely forming an inverse head and shoulders pattern with resistance near $2,550. Ethereum Price Could Rise Steadily

Ethereum failed to stay above the key $2,550 support level, and it extended its decline. ETH traded below the $2,440 and USD 2,400 support levels.

Trending: New Video Shows FBI Buliding In DC Empty, Doors Boarded Over!

It even broke $2,350 level and settled well below the 100 hourly simple moving average. A low is formed near $2,313 and the price is now correcting higher. It broke the $2,400 resistance level. Ether

Continue reading

You Might Like

Daily Truth Report • DailyTruthReport.com
Thanks for sharing!
Send this to a friend