TA: Ethereum Trims Gains, Why This Level Is The Key For Fresh Increase

TA: Ethereum Trims Gains, Why This Level Is The Key For Fresh Increase


Ethereum failed to clear $4,400 and started a fresh decline against the US Dollar. ETH must stay above $4,120 to start a fresh increase in the near term.

Ethereum started a fresh decline from the $4,440 resistance zone. The price is now trading below $4,250 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $4,360 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if it fails to stay above the $4,120 support zone. Ethereum Price Show Bearish Signs

Ethereum attempted a recovery wave above the $4,350 resistance zone, similar to bitcoin. ETH price even climbed above the $4,400 level, but it failed to continue higher.

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