RATE Group | Ethereum (ETH) Rebound Approaching Crucial Resistance
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Ethereum (ETH) Rebound Approaching Crucial Resistance

25 Oct Ethereum (ETH) Rebound Approaching Crucial Resistance

Posted at 03:46h in Ethereum News by

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  • Ethereum price is currently correcting losses after it traded as low as $$153 against the US Dollar.
  • Bitcoin price is struggling to recover above the $7,500 and $7,600 resistance levels.
  • This week’s followed bearish trend line is still active with resistance near $164 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to face a strong resistance near the $164 and $165 levels in the near term.

Ethereum price is slowly rebounding versus the US Dollar, while bitcoin is still struggling. ETH price must climb above $165 to extend its recovery to $170.

Ethereum Price Analysis

Yesterday, we saw a massive decline in Ethereum below the $170 and $165 support levels against the US Dollar. Moreover, ETH price settled below the $165 support and the 100 hourly simple moving average.

It opened the doors for more losses and the price traded below the $160 support. Finally, there was a spike below $155 and the price traded as low as $153. Recently, it started an upside correction…

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