RATE Group | Ethereum Price Analysis: ETH/USD Consolidating Above $460
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Ethereum Price Analysis: ETH/USD Consolidating Above $460

30 Jul Ethereum Price Analysis: ETH/USD Consolidating Above $460

Posted at 07:35h in Ethereum News by

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Key Highlights

  • ETH price traded in a range above the $460 support area against the US Dollar.
  • There is a key bearish trend line in place with resistance near $470 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair may perhaps break the trend line and the $478 resistance to gain upside momentum.

Ethereum price is consolidating in a crucial range against the US Dollar and bitcoin. ETH/USD must break the $477, $478 and $484 resistances to gain traction.

Ethereum Price Upsides Hurdles

There were no major moves above the $478 level in ETH price against the US Dollar. The ETH/USD pair mostly consolidated in a range above the $458 and $460 support levels. On the downside, there is an important support forming near the $460 level. The price recently bounced above the $465 level and the 50% Fib retracement level of the last decline from the $484 high to $455 low.

However, the upside move was capped by the $470-472 resistance. More importantly, there is a key bearish trend line in…

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