Ethereum Price Key Trend is Forming and Swift Recovery Could Occur

Dec 23, 2022 08:00 am Cryptocurrency 138

Ethereum is attempting an upside break above the $1,230 resistance against the US Dollar. ETH could start a strong increase if it settles above the $1,230 and $1,250 resistance levels.

Ethereum tested the $1,180 level and climbed higher sharply.

The price is now trading above $1,200 and the 100 hourly simple moving average.

There was a break above a key contracting triangle with resistance near $1,215 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could gain bullish momentum if there is a clear move above $1,230 and $1,250.

Ethereum Price Eyes Fresh Rally

Ethereum price started a downside correction from the $1,230 resistance zone. ETH spiked below the $1,200 support zone and the 100 hourly simple moving average.

However, the bulls were active above the $1,160 support zone. A low was formed near $1,180 and the price climbed higher sharply, similar to bitcoin. There was a strong move above the $1,200 level. Besides, there was a ..

Support the originator by clicking the read the rest link below.