Published On: Fri, Jun 15th, 2018

Ethereum Price Analysis: ETH/USD Recovering Higher

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Key Highlights
ETH price is moving higher and is recovering above the $500 level against the US Dollar.
There was a break above a major bearish trend line with resistance at $482 on the hourly chart of ETH/USD (data feed via Kraken).
The pair may dip a few points, but it is likely to remain supported above the $480 level.
Ethereum price climbed higher above key levels against the US Dollar and Bitcoin. ETH/USD is gaining pace and it could move further above $520 in the near term.
Ethereum Price Trend
There was a decent support base formed around $445 in ETH price against the US Dollar. The price started an upward move and managed to move above the $460 and $480 resistance levels. There were positive signs, prompting a bullish wave above the $500 level. Buyers pushed the price above the 23.6% Fib retracement level of the last decline from the $545 high to $446 low.
There was a decent push above the $505 level and the 100 hourly simple moving average. More importantly, there was a break above a major bearish trend line with resistance at $482 on the hourly chart of ETH/USD. The pair also succeeded in moving above the 50% Fib retracement level of the last decline from …

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