RATE Group | Ethereum (ETH) Signaling Bullish Continuation, Bitcoin Holding Support
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Ethereum (ETH) Signaling Bullish Continuation, Bitcoin Holding Support

11 Oct Ethereum (ETH) Signaling Bullish Continuation, Bitcoin Holding Support

Posted at 03:19h in Bitcoin News by

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  • Ethereum price is trading nicely above the $188 and $185 support levels against the US Dollar.
  • Bitcoin price is showing positive signs and it is trading above the $8,400 support area.
  • There is a major bullish trend line forming with support near $188 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is likely to continue higher and it could break the $195 and $198 resistance levels.

Ethereum price is trading above key supports versus the US Dollar and bitcoin. ETH price must stay above $185 to continue higher towards $200 in the near term.

Ethereum Price Analysis

Yesterday, we saw a nice upward move in Ethereum above the $185 resistance area against the US Dollar. The upward move was strong as ETH even climbed above the $190 level and settled above the 100 hourly simple moving average. Moreover, it tested the $195 resistance area and recently started correcting gains. It traded below the $190 support area.

However, the decline was protected by the $188 support area. It seems…

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