RATE Group | Ethereum Price Analysis: ETH/USD Could Extend Declines Below $175
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Ethereum Price Analysis: ETH/USD Could Extend Declines Below $175

12 Sep Ethereum Price Analysis: ETH/USD Could Extend Declines Below $175

Posted at 07:36h in Ethereum News by

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Key Highlights

  • ETH price is under a lot of pressure as it broke the $185 low against the US Dollar.
  • There are two bearish trend lines in place with resistance at $190 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to move down and it may even break the $175 and $170 levels.

Ethereum price is moving south against the US Dollar and bitcoin. ETH/USD broke the $185 low and it will most likely extend losses below $175.

Ethereum Price Decline

There was a minor upward move towards the $195 level in ETH price against the US Dollar. The ETH/USD pair even traded close to the $200 level and formed a high at $199.55. Later, there was a sharp downside move and the price broke the $190 support. More importantly, the price broke the $185 low and traded to a new low at $176.25. It seems like the price failed to move past $200 and it currently well below the 100 hourly simple moving average.

Recently, the price corrected higher from the $176 swing low. It traded above the…

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