Ethereum Price Could Resume Decline If This Support Paves Way
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Ethereum started a fresh decline from the $1,230 resistance against the US Dollar. ETH could accelerate lower if there is a clear move below the $1,180 support.
Ethereum is showing bearish signs and trading well below the $1,230 resistance zone.
The price is now trading below $1,200 and the 100 hourly simple moving average.
There is a key bearish trend line forming with resistance near $1,205 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could continue to move down if there is a clear move below the $1,185 support.
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