Ethereum Price Could Avoid a Major Drop if it Closes Above $1,250

Nov 28, 2022 06:00 am Cryptocurrency 126

Ethereum failed to clear the $1,250 resistance against the US Dollar. ETH is moving lower and might decline heavily if it breaks the $1,140 support.

Ethereum struggled to gain pace for a move above the $1,250 resistance level.

The price is now trading below $1,180 and the 100 hourly simple moving average.

There was a break below a key bullish trend line with support near $1,210 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could gain bearish momentum if there is no clear move above $1,230 and $1,250.

Ethereum Price Dips Again

Ethereum price attempted an upside break above the $1,230 resistance. However, ETH failed to gain pace and stayed below the $1,250 resistance. There was a fresh bearish reaction from the $1,235 high, similar to bitcoin.

There was a move below the $1,210 and $1,200 support levels. Besides, there was a break below a key bullish trend line with support near $1,210 on the ..

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