TA: Ethereum Stuck Below $3,600, Why Bears Might Aim Fresh Drop

TA: Ethereum Stuck Below $3,600, Why Bears Might Aim Fresh Drop


Ethereum recovered above $3,400 and $3,500 against the US Dollar. ETH price is struggling near $3,600 and it might start a fresh decline.

Ethereum recovered losses after a sharp decline to $2,900. The price is still trading well below $3,600 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline unless there is a clear break above $3,600. Ethereum Price is Facing Resistance

Ethereum declined heavily below $3,500 and $3,200. ETH even broke the $3,000 support and settled below the 100 hourly simple moving average, similar to bitcoin. It traded as low as $2,900 before starting an upside correction.

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There was a break above the $3,300 and $3,400 resistance levels. The price even climbed above the $3,500 resistance zone. There was a break above a key bearish trend line

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