Ethereum price started a minor recovery wave after it dropped to the $2,920 zone. ETH is rising and might face hurdles near the $3,240 zone.
Ethereum started a minor recovery wave from the $2,920 zone.
The price is trading below $3,250 and the 100-hourly Simple Moving Average.
There was a break below a connecting bullish trend line with support at $3,240 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could struggle to start a fresh increase above the $3,200 resistance level.
Ethereum Price Attempts Recovery
Ethereum price failed to settle above $3,250 and extended losses like Bitcoin. ETH declined below the $3,120 and $3,000 support levels. There was a break below a connecting bullish trend line with support at $3,240 on the hourly chart of ETH/USD.
The pair even dipped below $2,950. A low was formed at $2,920 and the price is now attempting a recovery wave. There was a move above the $3,000 and $3,050 resistance levels. The price cleared the 50% Fib retra
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