RATE Group | Ethereum (ETH) Holding Crucial Support While Bitcoin Is Declining
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Ethereum (ETH) Holding Crucial Support While Bitcoin Is Declining

18 Nov Ethereum (ETH) Holding Crucial Support While Bitcoin Is Declining

Posted at 04:34h in Bitcoin News by

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  • Ethereum price is still struggling to climb above $186, $188 and $190 resistances against the US Dollar.
  • The price is currently declining and it seems like it could retest the $180 support area.
  • There are two major bearish trend lines forming with resistance near $186 on the hourly chart of ETH/USD (data feed via Kraken).
  • Bitcoin is under a lot of pressure and it recently decline below the $8,500 support.

Ethereum price is holding an important support versus the US Dollar, while climbing vs bitcoin. ETH price might retest the $180 or $178 support area in the near term.

Ethereum Price Analysis

Recently, Ethereum found a strong buying interest near the $178 level against the US Dollar. As a result, ETH price started an upward move above the $180 and $182 levels.

Moreover, the price broke the $185 resistance and the 100 hourly simple moving average. However, the upward move was capped by the $186 resistance area. A high was formed near $186 and the price is currently correcting lower.

It…

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