- Ethereum price after heavy losses this past week against the US Dollar found support below $10.00 and started recovering.
- There is a major support trend line formed on the daily chart (data feed via Kraken) of ETH/USD, which is acting as a barrier for the bears.
- As long as the price is above the trend line support, there is a chance of more gains in the near term.
Ethereum price after a lot of struggle finally established a support, and may trade higher once again if the bulls gain control.
Ethereum Price Support
Ethereum price ETH after a downside move against the US dollar below the $10.00 level found support, as the bulls managed to prevent any additional weakness. The price started recovering and it looks like the ETH/USD pair is forming a base for the next move higher.
If we look at the daily chart (data feed via Kraken) of ETH/USD, then there is a major bullish trend line formed, which may act as a catalyst for the next move. As long as the price is above the trend line support, the chances of ETH/USD trading higher are very high. The only problem is the price is struggling to close above the