Ethereum price started a recovery wave above the $2,320 resistance. ETH is now struggling to gain pace for a move above the $2,385 resistance.
Ethereum started another decline from the $2,385 resistance.
The price is trading below $2,350 and the 100-hourly Simple Moving Average.
There was a break above a short-term declining channel with resistance at $2,290 on the hourly chart of ETH/USD (data feed via Kraken).
The pair must clear the $2,350 resistance to continue higher in the near term.
Ethereum Price Attempts Recovery
Ethereum price formed a base near $2,250 and started a fresh increase like Bitcoin. ETH was able to clear the $2,300 and $2,320 resistance levels.
There was a break above a short-term declining channel with resistance at $2,290 on the hourly chart of ETH/USD. The pair was able to climb above the 50% Fib retracement level of the downward wave from the $2,465 swing high to the $2,252 low.
The price even spiked above $2,260 before the bears appeared. There w
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