Ethereum remains in a bearish zone below $1,200 against the US Dollar. ETH could continue to move down unless it surges past the $1,280 resistance.
Ethereum Price Faces Hurdles
Ethereum settled well below the $1,500 support zone. The price traded as low as $1,073 and recently started a minor upside correction.
There was a recovery wave above the $1,120 and $1,150 levels. Ether price climbed above the 23.6% Fib retracement level of the recent decline from the $1,545 swing high to $1,072 low. However, the price is still trading below $1,250 and the 100 hourly simple moving average.
The bears were active near the $1,260 resistance zone. There is also a key bearish trend line ..
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