RATE Group | Ethereum Price Analysis: ETH/USD Broke Key Support and 100 SMA
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Ethereum Price Analysis: ETH/USD Broke Key Support and 100 SMA

27 Jul Ethereum Price Analysis: ETH/USD Broke Key Support and 100 SMA

Posted at 07:20h in Ethereum News by

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Key Highlights

  • ETH price declined recently and broke a key support near $468 against the US Dollar.
  • Yesterday’s highlighted important bullish trend line was breached with support at $476 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is now trading well below the $468 support and the 100 hourly simple moving average.

Ethereum price failed to stay above major supports against the US Dollar and bitcoin. ETH/USD is trading below the $468 support with a bearish angle.

Ethereum Price Resistance

There were a few rejections noted around the $480-482 resistance area in ETH price against the US Dollar. The ETH/USD pair struggled to hold gains and declined below a key support at $468. It even broke the 50% Fib retracement level of the last leg from the $446 swing low to $486 high. It opened the doors for more losses and the price settled below the $468 support and the 100 hourly SMA.

More importantly, yesterday’s highlighted important bullish trend line was breached with…

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