RATE Group | Ethereum Price Analysis: ETH/USD Turned Buy on Dips
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Ethereum Price Analysis: ETH/USD Turned Buy on Dips

21 Sep Ethereum Price Analysis: ETH/USD Turned Buy on Dips

Posted at 06:14h in Ethereum News by

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Key Highlights

  • ETH price surged higher and broke a key resistance near $210 against the US Dollar.
  • This week’s followed important bearish trend line was breached near $209 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair traded towards the $230 level and it is currently correcting lower in the near term.

Ethereum price is positioned for more gains against the US Dollar and bitcoin. ETH/USD could correct lower, but dips towards $416 and $412 remains supported.

Ethereum Price Analysis

Recently, there was a consolidation phase formed below the $212 and $216 resistances for ETH price against the US Dollar. The ETH/USD pair formed a decent support base near the $207 level and later started an upside move. It broke many resistances during the rise such as $210, $212 and $216. The price also settled above the $210 level and the 100 hourly simple moving average.

More importantly, this week’s followed important bearish trend line was breached near $209 on the hourly chart of…

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