ETH price moved above the $448 resistance and tested the $470 zone against the US Dollar.
There was a break above yesterday’s highlighted important bearish trend line with resistance at $448 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is currently struggling to clear the $470 resistance and the 100 hourly simple moving average.
Ethereum price is showing a few positive signs against the US Dollar and Bitcoin. ETH/USD must clear the 100 hourly SMA to gain traction in the near term.
Ethereum Price Resistance
There was a decent upside move above $440 in ETH price against the US Dollar. The ETH/USD pair managed to move above the $448 and $450 resistance levels. During the upside, the price broke the 61.8% Fib retracement level of the last decline from the $485 swing high to $420 low. After a close above the $450 level, the price attempted further gains.
Moreover, there was a break above yesterday’s highlighted important bearish trend line with resistance at $448 on the hourly chart of ETH/USD. However, the upside move was capped by the 100 hourly SMA near the $470-475 resistance zone. As a result, there was a downside correction below $465. The pair also broke the 23.6% Fib …
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