TA: Ethereum Recovery Hits Roadblock, Why Close Above 100 SMA Is Important

Ethereum started a major decline below the $3,200 support zone against the US Dollar. ETH price traded as low as $2,807 and it is now attempting a recovery wave. Ethereum started a fresh decline below the $3,300 and $3,200 support levels. The price is now trading below $3,200 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $3,020 on the hourly chart of ETH/USD (data feed via Kraken). The pair could a steady recovery wave if there is a close above $3,050 in the near term. Ethereum Price Corrects Losses Ethereum started a major decline....

Ethereum price is back in action against the US Dollar, as it recovered sharply and traded higher. Can it gain further? Key Highlights. Ethereum price after a nasty decline against the US Dollar found buyers and started to move higher. Yesterday’s highlighted bearish trend line on the hourly chart (data feed via Kraken) of ETH/USD was broken to clear the way for a recovery. If the broken trend line now acts as a support area, there are chances of more gains moving ahead. Ethereum Price Recovery. Ethereum price ETH dived yesterday to trade towards the $7.00 level against the US Dollar.....

Ethereum price is eyeing a recovery wave from $1,565 against the US Dollar. ETH could rise steadily if it settles above $1,600 and $1,620. Ethereum is attempting a recovery wave above the $1,580 level. The price is trading above $1,590 and the 100-hourly Simple Moving Average. There was a break above a major bearish trend line with resistance near $1,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a recovery wave if there is a close above $1,600 and $1,620. Ethereum Price Signals Recovery Ethereum’s price remained well-bid above the $1,565 level. ETH seems....

Ethereum fell to $2,930 before correcting higher against the US Dollar. ETH price is rising and a close above $3,200 could spark a strong recovery. Ethereum extended decline and broke the $3,000 support zone. The price is trading below $3,200 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $3,110 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a major recovery wave if there is a close above $3,200. Ethereum Price Eyes Steady Recovery Ethereum failed to climb above $3,200 and extended its decline.....

Ethereum has been in recovery mode since developers announced a possible date for the Merge. Since this date is close, it has sparked a lot of positivity among community members who looking forward to the leading smart contracts platform’s move to proof of stake. This recovery has since triggered a liquidation event that has in no way slowed down as almost 90,000 traders have watched their positions liquidated. Ethereum Liquidations Ramp Up The recent recovery trend has seen the price of Ethereum rise above $1,400 towards a new one month high. In its wake, it has left a trail of blood....