Ethereum Price Weekly Analysis – Can ETH Buyers Gain Momentum?

Key Highlights

  • Ethereum price somehow managed to recover a few points yesterday against the US dollar.
  • There was a major bearish trend line formed on the daily chart of the ETH/USD pair (data feed via SimpleFX), which looks like broken during the recent move.
  • If the current break is true, then the ETH/USD pair may head further higher.

Ethereum price recently corrected higher versus the US Dollar, but we need to see if the current pace can be retained by buyers or not.

Ethereum Price Upside Move

Ethereum price ETH remained in a heavy downtrend during this past week against the US Dollar, and traded as low as $10.17. However, the ETH bulls finally managed to defend further downsides, and pushed the price higher. There was a major bearish trend line on the daily chart of the ETH/USD pair (data feed via SimpleFX). It looks like buyers have managed to push the price above the highlighted trend line. If the recent trend line break is true, then there is a chance of more gains in ETH.

Ethereum Price Weekly AnalysisEthereum Price Weekly Analysis

The price is currently trading near

Read more ... source: NewsBTC USA

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