Ethereum price found support near the $3,400 zone and recovered. ETH is struggling to settle above $3,700 and might dip once again.
Ethereum started a fresh increase above the $3,440 and $3,500 levels.
The price is trading below $3,620 and the 100-hourly Simple Moving Average.
There was a break below a key bullish trend line with support at $3,620 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase if it remains supported above the $3,500 zone in the near term.
Ethereum Price Dips Below $3,600
Ethereum price started a fresh increase from the $3,365 support zone, beating Bitcoin. ETH price was able to recover above the $3,400 and $3,500 resistance levels.
There was a move above the 50% Fib retracement level of the downward move from the $3,877 swing high to the $3,369 low. The bulls even pushed the price above the $3,700 resistance zone. However, the bears remained active near the $3,750 zone.
The 61.8% Fib retracement level of the
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