Ethereum Price Technical Analysis – Signs Of Weakness Emerge

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Key Highlights

  • Ethereum price failed once again to trade near the $15.00 level vs the US dollar and moved down.
  • Yesterday’s highlighted bullish trend line on the hourly chart (data feed via Kraken) of ETH/USD was broken during the downside drift.
  • Two failures to trade and break $15.00 suggests that the price is starting to feel the heat in the short term.

Ethereum price may trade down if the ETH/USD bulls fail once again to take it close to the $15.00 level moving ahead.

Ethereum Price to Weaken?

Ethereum price ETH yesterday attempted to trade higher, but failed to near the $14.40 level vs the US Dollar. I was hoping it to test at least the last swing high of $14.80. However, the ETH sellers had a different idea, as they managed to outpace the bulls and took the price down. Yesterday’s highlighted bullish trend line on the hourly chart (data feed via Kraken) of ETH/USD was breached to ignite a downside move.

The most important point is that the price has now registered two failures around the $14.50 level, which is a warning to the bulls that a top may be in place. However, there are many support levels on the downside for the


Read more ... source: NewsBTC USA

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