RATE Group | Ethereum Price Analysis: ETH/USD Under Pressure Below $216
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Ethereum Price Analysis: ETH/USD Under Pressure Below $216

20 Sep Ethereum Price Analysis: ETH/USD Under Pressure Below $216

Posted at 07:51h in Ethereum News by

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Key Highlights

  • ETH price is struggling to break the $214-216 resistance zone against the US Dollar.
  • Yesterday’s highlighted important bearish trend line is active with resistance at $212 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair has to break the trend line and the $216 resistance zone for more gains in the near term.

Ethereum price is mostly in a bearish zone against the US Dollar and bitcoin. ETH/USD needs to overcome sellers above $212 to test the $228 resistance.

Ethereum Price Resistance

Yesterday, there were many rejections around the $214-216 area in ETH price against the US Dollar. The ETH/USD pair failed to close above the $216 level and dived sharply. It broke the $206 and $200 support levels and traded as low as $197. Later, it recovered sharply and moved back above the $200 level. It revisited the $214 resistance, which acted as a resistance.

More importantly, yesterday’s highlighted important bearish trend line is active with resistance at $212 on the…

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