Ethereum Recovery Could Face Hurdles – Can Bulls Overcome Resistance?
The post Ethereum Recovery Could Face Hurdles – Can Bulls Overcome Resistance? appeared on BitcoinEthereumNews.com. Ethereum price started a fresh decline below the $4,550 zone. ETH is now attempting a recovery and might face hurdles near the $4,420 zone. Ethereum is still struggling to recover above the $4,500 zone. The price is trading below $4,500 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $4,430 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a close above the $4,450 level in the near term. Ethereum Price Eyes Steady Increase Ethereum price started a recovery wave after it tested the $4,220 zone, like Bitcoin. ETH price was able to climb above the $4,280 and $4,320 resistance levels. The price surpassed the 50% Fib retracement level of the recent decline from the $4,491 swing high to the $4,213 low. A base seems to be forming above the $4,200 level, but the bears might remain active above the $4,400 resistance zone. Ethereum price is now trading below $4,450 and the 100-hourly Simple Moving Average. Besides, there is a key bearish trend line forming with resistance at $4,430 on the hourly chart of ETH/USD. On the upside, the price could face resistance near the $4,385 level or the 61.8% Fib retracement level of the recent decline from the $4,491 swing high to the $4,213 low. The next key resistance is near the $4,400 level and the trend line. The first major resistance is near the $4,430 level. A clear move above the $4,430 resistance might send the price toward the $4,500 resistance. An upside break above the $4,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,550 resistance zone or even $4,580 in the near term. Another Decline In…
The post Ethereum Recovery Could Face Hurdles – Can Bulls Overcome Resistance? appeared on BitcoinEthereumNews.com.
Ethereum price started a fresh decline below the $4,550 zone. ETH is now attempting a recovery and might face hurdles near the $4,420 zone. Ethereum is still struggling to recover above the $4,500 zone. The price is trading below $4,500 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance at $4,430 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if there is a close above the $4,450 level in the near term. Ethereum Price Eyes Steady Increase Ethereum price started a recovery wave after it tested the $4,220 zone, like Bitcoin. ETH price was able to climb above the $4,280 and $4,320 resistance levels. The price surpassed the 50% Fib retracement level of the recent decline from the $4,491 swing high to the $4,213 low. A base seems to be forming above the $4,200 level, but the bears might remain active above the $4,400 resistance zone. Ethereum price is now trading below $4,450 and the 100-hourly Simple Moving Average. Besides, there is a key bearish trend line forming with resistance at $4,430 on the hourly chart of ETH/USD. On the upside, the price could face resistance near the $4,385 level or the 61.8% Fib retracement level of the recent decline from the $4,491 swing high to the $4,213 low. The next key resistance is near the $4,400 level and the trend line. The first major resistance is near the $4,430 level. A clear move above the $4,430 resistance might send the price toward the $4,500 resistance. An upside break above the $4,500 resistance might call for more gains in the coming sessions. In the stated case, Ether could rise toward the $4,550 resistance zone or even $4,580 in the near term. Another Decline In…
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