RATE Group | Ethereum (ETH) Flirts With Key Resistance, Bitcoin Up 3%
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Ethereum (ETH) Flirts With Key Resistance, Bitcoin Up 3%

06 Dec Ethereum (ETH) Flirts With Key Resistance, Bitcoin Up 3%

Posted at 03:39h in Bitcoin News by

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  • Ethereum is slowly rising and it is trading above the $146 support area against the US Dollar.
  • The price is facing a few strong resistances near $148, $150 and $152.
  • There is a key contracting triangle forming with resistance near $148 on the hourly chart of ETH/USD (data feed via Kraken).
  • The price could continue to rise towards the main $152 resistance in the near term.

Ethereum price is approaching important hurdles versus the US Dollar and bitcoin. ETH price must settle above $152 to continue higher in the near term.

Ethereum Price Analysis

Recently, Ethereum dived from the $152 resistance area and trimmed most gains against the US Dollar. However, ETH price managed to stay above the $144 support area and later recovered higher.

Moreover, the price surpassed the $146 resistance area and the 100 hourly simple moving average. The price also climbed above the 23.6% Fib retracement level of the recent decline from the $153 swing high to $144 swing low.

At the outset, the price is facing…

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