TA: Ethereum Topside Bias Vulnerable, What Could Trigger Sharp Decline

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Ethereum started a fresh decline from the $2,850 resistance against the US Dollar. ETH price is down over 5% and it is struggling to stay above $2,420.

  • Ethereum declined sharply after there was a clear break below the $2,650 support.
  • The price is now well below $2,650 and the 100 hourly simple moving average.
  • There was a break below a key rising channel with support near $2,760 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could continue to move down unless there is a strong recovery […]

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