RATE Group | Ethereum Price Technical Analysis – ETH/USD Support Turned Resistance
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Ethereum Price Technical Analysis – ETH/USD Support Turned Resistance

26 Apr Ethereum Price Technical Analysis – ETH/USD Support Turned Resistance

Posted at 06:50h in Ethereum News by

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Key Highlights

  • ETH price tumbled and broke a major support at $648-660 against the US Dollar.
  • This week’s highlighted important bullish trend line with support at $660 was breached on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair retested the broken support at $648, but it acted as a resistance and prevented gains.

Ethereum price is back in a bearish zone against the US Dollar and Bitcoin. ETH/USD has to move back above $645-660 to start a fresh upside wave.

Ethereum Price Resistance

There was a fresh start of a downside move from well above $675 in ETH price against the US Dollar. The price declined and broke many supports such as $675 and $660. The decline gained pace once there was a break below the $675 support. It dropped by more than $80 and settled below the 100 hourly simple moving average. During the decline, there was a close below a crucial pivot level at $548.

More importantly, this week’s highlighted important bullish trend line with support at $660 was…

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