Ethereum Price Breaking This Confluence Resistance Could Start Recovery

Jun 14, 2023 04:00 am Cryptocurrency 134

Ethereum price is finding bids above the $1,720 zone against the US Dollar. ETH could start a decent recovery if there is a move above the $1,770 resistance.

Ethereum is struggling below the $1,770 and $1,780 resistance levels.

The price is trading below $1,770 and the 100-hourly Simple Moving Average.

There was a break above a short-term contracting triangle with resistance near $1,740 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could recover if there is a move above the $1,770 and $1,780 levels.

Ethereum Price Holds Support

Ethereum’s price remained well-bid above the $1,720 support zone. ETH seems to be forming a base above the $1,720 level, similar to Bitcoin. A low is formed near $1,718 and the price is slowly moving higher.

There was a move above the $1,740 level. Besides, there was a break above a short-term contracting triangle with resistance near $1,740 on the hourly chart of ET ..

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