TA: Ethereum Takes Major Hit, Can The Bulls Protect More Losses

TA: Ethereum Takes Major Hit, Can The Bulls Protect More Losses


Ethereum tumbled below the $1,500 support against the US Dollar. ETH must stay above $1,300 to avoid a drop towards $1,120 or even $1,000.

Ethereum declined over 20% and traded below the $1,500 support. The price is now trading below $1,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $1,420 on the hourly chart of ETH/USD (data feed via Kraken). The pair might start a recovery wave if there is a clear move above the $1,425 resistance. Ethereum Price Declines Heavily

Ethereum failed to start a fresh increase above the $1,800 resistance. There was a sharp bearish reaction below the $1,720 and $1,700 support levels.

Trending: BO POLNY DELETED!

The bears gained strength and pushed the price

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend