Ethereum Price Weekly Analysis – Can ETH Gain Further?

Key Highlights

  • 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

Read more ... source: NewsBTC USA

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