Published On: Wed, Jun 13th, 2018

Ethereum Price Analysis: ETH/USD Breaks $500

Share This

Key Highlights
ETH price declined further and failed to hold the $500.00 handle against the US Dollar.
This week’s followed important bearish trend line acted as a barrier near $540 on the hourly chart of ETH/USD (data feed via Kraken).
The pair declined below the $500 handle and it may accelerate declines in the near term.
Ethereum price is struggling to recover against the US Dollar and Bitcoin. ETH/USD traded below the $500 level and it remains at a risk of more losses.
Ethereum Price Decline
There was a minor upside recovery above the $520 level in ETH price against the US Dollar. The price corrected towards the $530 and $540 levels, where sellers defended more gains. There was a failure to break the $540 resistance area. Moreover, the 61.8% fib retracement level of the last drop from the $566 high to the $503 low, which ignited a downside reaction.
More importantly, this week’s followed important bearish trend line acted as a barrier near $540 on the hourly chart of ETH/USD. The pair faced a solid selling interest near the $540 level. It declined and moved below the $520 and $510 support levels. The downside move was strong as the price declined below the $505 swing low and broke …

Read more –> click here all content is copyright Inside Bitcoins.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE.

Powered by ABITCO.IN

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Most Popular Posts

ALL Bitcoin News

Like what you’re reading?

Never miss any breaking Bitcoin news by following us on Facebook and Twitter!