TA: Ethereum Tops Near $1,200, Why Dips Could Be Attractive

TA: Ethereum Tops Near $1,200, Why Dips Could Be Attractive


Ethereum started an upside correction above the $1,050 zone against the US Dollar. ETH traded close to the $1,200 resistance zone before it faced sellers.

Ethereum started an upside correction above the $1,100 resistance zone. The price is now trading below $1,150 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $1,180 on the hourly chart of ETH/USD (data feed via Kraken). The pair could revisit the key $1,050 and $1,040 support levels in the near term. Ethereum Price Corrects Lower

Ethereum was able to climb above the $1,050 resistance zone. ETH even recovered above the $1,120 resistance zone and settled above the 100 hourly simple moving average.

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Finally, the price surpassed

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