Ethereum Price Key Indicators Suggest Strengthening Case For Upside Break

Dec 13, 2022 08:00 am Cryptocurrency 185

Ethereum remained supported above the $1,240 level against the US Dollar. ETH is rising and might soon attempt an upside break above the $1,300 barrier.

Ethereum remained well bid above the $1,240 and $1,220 levels.

The price is now trading above $1,260 and the 100 hourly simple moving average.

There is a major contracting triangle forming with resistance near $1,280 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could start a strong increase if there is a clear move above the $1,300 barrier.

Ethereum Price Eyes Upside Break

Ethereum price started a downside correction from the $1,285 resistance. ETH declined below the $1,260 level and the 100 hourly simple moving average.

However, the bulls were again active near the $1,240 support zone. A low was formed near $1,240 and ether price started a fresh increase, similar to bitcoin. The price ..

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