RATE Group | Ethereum Price Weekly Analysis: ETH/USD Could Revisit $422
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Ethereum Price Weekly Analysis: ETH/USD Could Revisit $422

22 Jul Ethereum Price Weekly Analysis: ETH/USD Could Revisit $422

Posted at 06:19h in Ethereum News by

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Key Highlights

  • ETH price struggled to hold gains above $510 and declined sharply against the US Dollar.
  • Recently, there was a break above a bearish trend line with resistance at $457 on the 4-hours chart of ETH/USD (data feed via Kraken).
  • The pair has to close above $477 and the 100 simple moving average to move back in a bullish zone.

Ethereum price is moving with bearish signs versus the US Dollar and Bitcoin. ETH/USD must clear the $470 and $477 resistances to climb higher.

Ethereum Price Resistances

This past week, there was a solid upside move above the $500 level in ETH price against the US Dollar. The ETH/USD pair traded above the $510 level, but it failed to hold gains. As a result, there was a bearish reaction and the price declined below the $500 and $485 support levels. The price even declined below the $460 support and the 100 simple moving average (4-hours).

It traded close to the $435 level and a low was formed near $439. Later, the price started an upside move and broke the…

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