Ethereum Price Scores Bullish Moves, Can ETH Sustain This Recovery?

Nov 23, 2022 06:00 am Cryptocurrency 146

Ethereum found support near $1,070 and recovered above $1,150 against the US Dollar. ETH could rise further, but upsides might face hurdles near $1,200 and $1,230.

Ethereum started an upside correction from the $1,070 and $1,080 support levels.

The price is now trading above $1,120 and the 100 hourly simple moving average.

There was a break above a major bearish trend line with resistance near $1,140 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could rise further towards $1,200 or even $1,230 in the near term.

Ethereum Price Recovers

Ethereum price remained well bid near the last swing low at $1,070, similar to bitcoin. ETH formed a base above the $1,070 and $1,080 levels before it started an upside correction.

There was a decent recovery wave above the $1,120 and $1,140 resistance levels. Ether price jumped above the 50% Fib retracement level of the key drop from the $1,232 swing high to $1,073 low. Besides, there was a break ..

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