Ethereum price started a fresh decline below the $4,450 zone. ETH is now consolidating and might aim for a fresh increase if it clears $4,380.
Ethereum is still struggling to recover above the $4,400 zone.
The price is trading below $4,380 and the 100-hourly Simple Moving Average.
There is a key bearish trend line forming with resistance at $4,340 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a recovery wave if it settles above $4,350 and $4,380.
Ethereum Price Faces Hurdles
Ethereum price started a recovery wave after it formed a base above the $4,260 zone, like Bitcoin. ETH price was able to climb above the $4,320 and $4,350 resistance levels before the bears appeared.
The price struggled to clear the $4,385 level. A high was formed at $4,3873 and the price started to decline again. There was a move below the $4,320 support level. The recent low was formed at $4,268 and the price is now consolidating losses above the 23.6% Fib retracement
We współpracy z: https://www.newsbtc.com/analysis/eth/ethereum-price-forming-base-4220/
