Ethereum Price Analysis: Another Bear Wave Before Higher?

  • 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…

Read Full Story : Live Bitcoin News

2019-04-16 08:08:56

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Written by Livebitcoinnews

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