Ethereum Price Losses Steady: Is a Rebound Brewing?

Ethereum Price Losses Steady: Is a Rebound Brewing?

Ethereum price started a minor recovery wave above the $3,200 zone. ETH is struggling and might continue to move down if it stays below $3,320.


  • Ethereum started a minor recovery wave from the $3,160 zone.

  • The price is trading below $3,320 and the 100-hourly Simple Moving Average.

  • There is a connecting bullish trend line forming with support at $3,250 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could struggle to start a fresh increase above the $3,320 resistance level.

  • Ethereum Price Faces Resistance


    Ethereum price started a short-term recovery wave from the $3,160 level, like Bitcoin. ETH was able to recover above the $3,200 and $3,220 resistance levels.


    The price cleared the 23.6% Fib retracement level of the downward move from the $3,743 swing high to the $3,160 low. There is also a connecting bullish trend line forming with support at $3,250 on the hourly chart of ETH/USD.


    However, the ..

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