RATE Group | Ethereum at Potentially Key Turning Point, Bitcoin Holding $7K
73481
post-template-default,single,single-post,postid-73481,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum at Potentially Key Turning Point, Bitcoin Holding $7K

27 Dec Ethereum at Potentially Key Turning Point, Bitcoin Holding $7K

Posted at 04:09h in Bitcoin News by

[ad_1]

  • Ethereum is still trading above the $122 and $125 support levels against the US Dollar.
  • The price could start a decent increase above the $128 and $130 resistance levels.
  • This week’s major bearish trend line was breached with resistance near $126 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin spiked above $7,300, but it failed to continue higher and it is now near $7,200.

Ethereum price is trading above major uptrend supports versus the US Dollar and bitcoin. ETH price must settle above $130 to start a fresh increase in the near term.

Ethereum Price Analysis

After forming a support base near $123 and $125, Ethereum price rallied against the US Dollar. ETH price surged above the $128 and $130 resistance levels.

Moreover, this week’s major bearish trend line was breached with resistance near $126 on the hourly chart of ETH/USD. The pair tested the $132 resistance, but it failed to stay above the 100 hourly simple moving average.

A high was formed near $132 and the price…

[ad_2]

Source link

Tags:
, , , , , , ,