TA: Ethereum Struggles Below $485, Why 100 SMA Is The Key

TA: Ethereum Struggles Below $485, Why 100 SMA Is The Key


Ethereum rallied close to $495, but it failed to test $500 against the US Dollar. ETH price is currently correcting gains (similar to bitcoin) and showing bearish signs below $485.

Ethereum is correcting lower and trading below the key $485 pivot level. The price is holding the main $470 support level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $474 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline sharply if there is a clear break below $474 and $470 in the near term. Ethereum Price is Approaching Key Support

Ethereum rallied above the $480 and $485 resistance levels, but it failed to test the $500 barrier. ETH formed a high near the $495 level and it settled well above the 100 hourly simple moving average.

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Recently, there was a sharp downside correction below the $485 pivot level. Ether price even broke

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