Ethereum Price Lacks Momentum Above $1,900 But Dips Likely To Be Limited

Jun 27, 2023 04:00 am Cryptocurrency 83

Ethereum price is struggling to settle above the $1,920 resistance against the US Dollar. ETH is still at risk of a drop toward the $1,790 support.

Ethereum is still facing a major hurdle near the $1,920 resistance.

The price is trading near $1,870 and the 100-hourly Simple Moving Average.

There was a break below a short-term contracting triangle with support near $1,890 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could decline further if it remains below $1,920 and $1,930 for a long time.

Ethereum Price Grinds Lower

Ethereum’s price remained below the key $1,920 resistance zone. ETH failed to stay above the $1,900 zone and extended its decline, similar to Bitcoin.

There was a break below a short-term contracting triangle with support near $1,890 on the hourly chart of ETH/USD. The pair dipped below the $1,865 support and the 100-hourly Simple Moving Average. However, losses were limited below $1,850.

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