Ethereum price started a fresh decline and traded below $2,265. ETH is now consolidating above $2,220 and might struggle to recover.
Ethereum started a downside correction below the $2,265 zone.
The price is trading below $2,280 and the 100-hourly Simple Moving Average.
There is a bearish trend line forming with resistance at $2,285 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move down if it stays below the $2,300 zone.
Ethereum Price Extends Losses
Ethereum price failed to remain stable above $2,300 and started a fresh decline, like Bitcoin. ETH price dipped below the $2,280 and $2,265 levels.
The price even traded below $2,250. A low was formed at $2,233, and the price is now consolidating losses. There was a minor upward move above the 23.6% Fib retracement level of the downward move from the $2,322 swing high to the $2,233 low.
Ethereum price is now trading below $2,280 and the 100-hourly Simple Moving Average. Besides, there is
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