RATE Group | Ethereum Price Weekly Analysis: ETH Remains Sell Near $100
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Ethereum Price Weekly Analysis: ETH Remains Sell Near $100

09 Dec Ethereum Price Weekly Analysis: ETH Remains Sell Near $100

Posted at 05:30h in Ethereum News by

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Key Highlights

  • ETH price declined heavily after it failed to break the $125 resistance against the US Dollar.
  • There is a crucial bearish trend line formed with resistance at $101 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair may correct higher, but is likely to face sellers near the $99, $100 and $101 resistances.

Ethereum price declined heavily this past week versus the US Dollar and Bitcoin. ETH/USD remains in a downtrend as long as it is below $100 and $114.

Ethereum Price Analysis

This past week, ETH price was rejected near the $125-126 resistance zone against the US Dollar. The ETH/USD pair started a significant downside move and traded below the $110, $105 and $100 support levels. There was even a close below $105 and the 100 simple moving average (4-hours). Sellers pushed the price below the $100 and $90 levels. A new yearly low was formed near $80 and later the price corrected higher.

There was a decent correction above the $90 resistance. The price moved above…

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