- Ethereum price topped near the $188 level and declined recently against the US Dollar.
- ETH broke the $176 and $169 support levels to move into a short term bearish zone.
- There is a major bearish trend line formed with resistance at $169 on the 4-hours chart (data feed from Coinbase).
- The price could decline further towards the $150 support, where buyers are likely to emerge.
Ethereum price started a major downside correction from the $188-190 zone against the US Dollar. ETH could test the $150 support zone before it starts a fresh increase in the near term.
Ethereum Price Analysis
This past week, Ethereum price traded higher towards the $188-190 resistance against the US Dollar. The ETH/USD pair failed to climb towards $200, topped at $188, and finally started a major downside correction. There was a drop below the $176 support and a crucial bullish trend line with support at $175 on the 4-hours chart. It opened the doors for more losses below the $172 level and the 50% Fib…
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