TA: Ethereum Topside Bias Vulnerable If It Continues To Struggle Below $1.2K

Jun 29, 2022 06:00 am Cryptocurrency 118

Ethereum declined below the $1,150 zone against the US Dollar. ETH is now at a risk of more losses if it stays below the key $1,200 pivot zone.

Ethereum started a fresh decline below the $1,220 and $1,200 levels.

The price is now trading below $1,200 and the 100 hourly simple moving average.

There is a connecting trend line in place with support at $1,130 on the hourly chart of ETH/USD (data feed via Kraken).

The pair could decline further is a clear move below the $1,120 support zone.

Ethereum Price Remains At Risk

Ethereum remained in a bearish zone below the $1,280 and $1,250 resistance levels. ETH started a fresh decline and traded below the key $1,200 support zone.

The decline gained pace below the $1,180 level and the 100 hourly simple moving average. As a result, the bears were able to push the price below the $1,150 support. A low is formed near $1,132 and the price is now consolidating losses.

Ether is now trading well below $1,200 and the 100 hourly simple moving ..

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