RATE Group | ETH/USD attempts Bollinger Band upper breakout
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ETH/USD attempts Bollinger Band upper breakout

15 Oct ETH/USD attempts Bollinger Band upper breakout

Posted at 04:27h in Ethereum News by

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  • Bollinger Band upper curve hinders growth amid thinning volatility and volume.
  • Ethereum expected to consolidate between $180 and $190 in the coming sessions.

Ethereum price has been remarkably slow in its movement since Monday. The lethargic movement follows a lower correction from highs around $198.32. The failure to break above must have discouraged the bulls while giving Ethereum bears a gap to explore.

The lower correction stepped slightly under $180 during the last weekend session. However, the 100 Simple Moving Average (SMA) on the four-hour chart came out as strong support. Also aiding in support was the Bollinger Band four-hour lower curve. The move allowed Ethereum to push for reversal above $180 but the upside is limited under $180.

The price is teetering at $186.12 while pushing for a breakout above the BB four-hour upper curve. The reducing volatility coupled with the low trading activity suggests limited trading activities. Besides, the Relative…

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