Ethereum Price Technical Analysis – No Relief For Buyers

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Key Highlights

  • ETH price remained under pressure against the US Dollar, as buyers failed to gain momentum.
  • There are a couple of important bearish trend lines formed on the hourly chart (data feed via SimpleFX) of ETH/USD, which are preventing gains.
  • It looks like buyers are finding it really hard to take the price higher, but sooner or later they will.

Ethereum price ETH popped a few points higher versus the USD, but failed once again to sustain momentum, and traded lower.

Ethereum Price Hurdles

Ethereum price ETH struggled to move higher against the US Dollar continued. The ETH bulls somehow managed to take the price from $10.16 to $10.84, but they found many hurdles on the upside. As a result, there was as downside move. There are a couple of important bearish trend lines formed on the hourly chart (data feed via SimpleFX) of ETH/USD.

These trend lines acted as a resistance on many occasions, and the recent failure around $10.80 was also due to them. The most important point is that the 100 hourly simple moving average is now positioned just above these trend lines. It means the highlighted resistance holds the key for more gains in ETH. Only if the


Read more ... source: NewsBTC USA

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