- The losses on Monday extended below $160.00 before ETH/USD found solace at $156.53.
- The buyers should look out for a double-cross of the 12 EMA above the longer term 26 EMA.
ETH/USD is making a grand entrance into the broken range support at $163. This upside correction is happening in the wake of another flash drop witnessed yesterday when Ethereum came down like a stone in the air after the buyers failed to break above $170 resistance. The waterfall drop could not find support at $163 (range support). The losses extended below $160.00 before ETH/USD found solace at $156.53.
Significant bullish momentum is building up above $160. Besides, Ethereum is changing hands at $163.13 after zooming above the 12 exponential moving average (EMA). Moreover, there is a new uptrend developing above the short-term ascending trendline. Marginally above the range support, the price is facing resistance from the 26 EMA 1-hour.
All eyes are set on $170 in the short-term…
Read Full Story : Coingape