Ethereum started a recovery wave above the $2,840 level against the US Dollar. ETH is now facing a major challenge near $2,905 and the 100 hourly SMA.
Ethereum Price Faces Resistance
Ethereum traded as low as $2,766 before it started a recovery wave. ETH was able to settle above the $2,800 resistance zone.
There was a move above the $2,840 and $2,850 resistance levels. Ether even climbed above the 23.6% Fib retracement level of the key drop from the $3,040 swing high to $2,766 low. It is still below $2,900 and the 100 hourly simple moving average.
On the upside, an initial resistance is seen near the $2,900 level. There is also a major bearish trend line forming with ..
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