TA: Why Ethereum Could Correct To $1,750 Before A Fresh Increase

TA: Why Ethereum Could Correct To $1,750 Before A Fresh Increase


Ethereum failed to stay above $1,900 and corrected lower against the US Dollar. ETH price is correcting gains and it seems like to might test $1,750 before a fresh increase.

Ethereum is correcting lower from the $1,975 swing high and trading below $1,900. The price is now testing the $1,850 support, but it is below the 100 hourly simple moving average. There is a major bullish trend line forming with support near $1,850 on the hourly chart of ETH/USD (data feed via Kraken). The pair could dip further, but the bulls are likely to remain active near $1,750. Ethereum Price is Correcting Gains

Ethereum made another attempt to settle above $2,000, but it failed. The recent swing high was formed near $1,976 before ETH price started a fresh decline.

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There was a break below the $1,950 and $1,900 support levels. Ether price even tested the $1,850 support level and it is now trading well below the 100

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