Ethereum price failed to clear the $1,650 and corrected gains. ETH is now consolidating and might attempt to recover above the $1,620 resistance.
- Ethereum started a fresh bearish reaction from the $1,650 zone.
- The price is trading below $1,600 and the 100-hourly Simple Moving Average.
- There was a break below a short-term contracting triangle with support at $1,595 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a fresh increase if it clears the $1,620 resistance zone.
Ethereum Price Dips Again
Ethereum price remained stable above the $1,520 level and started a fresh increase, like Bitcoin. ETH traded above the $1,600 and $1,620 levels before the bears appeared.
A high was formed at $1,655 and the price started a fresh pullback. There was a move below the $1,600 level. Besides, there was a break below a short-term contracting triangle with support at $1,595 on the hourly chart of ETH/USD. The pair tested the…
