RATE Group | Ethereum Price Analysis: ETH/USD Bullish Above $465
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Ethereum Price Analysis: ETH/USD Bullish Above $465

26 Jul Ethereum Price Analysis: ETH/USD Bullish Above $465

Posted at 06:55h in Ethereum News by

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Key Highlights

  • ETH price moved a few points lower after trading as high as $485.71 against the US Dollar.
  • There is a major bullish trend line in place with support at $470 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair is trading above a few important support levels like $465 and $470.

Ethereum price is struggling to gain momentum against the US Dollar and bitcoin. ETH/USD must hold the $465 support to bounce back in the near term.

Ethereum Price Trend

Yesterday, there was a nice upside move above the $470 resistance in ETH price against the US Dollar. The ETH/USD pair spiked above the $485 level and formed a high at $485.71. Later, the price started a downside correction and traded below $475. It broke the 23.6% Fib retracement level of the last wave from the $445 swing low to $485 high.

However, the decline was protected by a key support near $465 and the 100 hourly simple moving average. The 50% Fib retracement level of the last wave from the $445 swing low to $485…

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