Ether Could Nosedive
Ether (ETH) $Ethereum(ETH.CC$
Ether also started an upside correction above the $3,750 resistance zone. The price even broke the $3,800 level and the 21 simple moving average (H1). However, the price failed to gain strength for a move towards the $4,000 level.
Ether also started an upside correction above the $3,750 resistance zone. The price even broke the $3,800 level and the 21 simple moving average (H1). However, the price failed to gain strength for a move towards the $4,000 level.
It failed surpass the $3,900 level and started a fresh decline. The price is trading below $3,800. There is also a rising channel forming with support near $3,780 on the hourly chart.
A downside break below the channel support could push the price further lower below $3,700. The next major support sits at $3,620, below which there is a risk of a move towards $3,500.
Part of the content is taken from Yahoo.
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