RATE Group | Ethereum Price Analysis: ETH Turned Buy On Dips Above $90
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Ethereum Price Analysis: ETH Turned Buy On Dips Above $90

18 Dec Ethereum Price Analysis: ETH Turned Buy On Dips Above $90

Posted at 08:10h in Ethereum News by

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Key Highlights

  • ETH price traded higher recently and broke the $89-90 resistance area against the US Dollar.
  • There was a break above a crucial bearish trend line with resistance at $87 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair traded as high as $97 and it is currently consolidating gains above $90.

Ethereum price made a nice bullish move against the US Dollar and bitcoin. ETH/USD is now trading in a bullish zone and it may find a strong support near $89-90.

Ethereum Price Analysis

After a minor downside correction from $88, ETH price found support near $83 against the US Dollar. The ETH/USD pair formed a support base near $83 and later started a solid upside move. It jumped above the $86 resistance and the 100 hourly simple moving average. The upside move was strong as the price even managed to surpass a significant barrier near the $89-90 zone.

Moreover, there was a break above a crucial bearish trend line with resistance at $87 on the hourly chart of ETH/USD. The…

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