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Market Cap: $1,450,746,047,43824h Vol: $157,596,454,127BTC Dominance: 61.2%Cryptocurrencies: 8,609Markets: 34,916
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TA: Why Ethereum Below $1,650 Could Accelerate Decline To $1,500
NewsBTC3 days ago
Published on February 23, 2021 05:18 GMT+0edited on February 23, 2021 06:01 GMT+0
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Ethereum started a sharp decline below $1,850 against the US Dollar. ETH price spiked towards $1,500 and it is currently struggling to stay above $1,650.
- Ethereum declined heavily after it broke the $1,850 and $1,750 support levels.
- The price is now trading well below $1,800 and the 100 hourly simple moving average.
- There was a break below a crucial bullish trend line with support near $1,865 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could continue to move down if it fails to stay above the $1,650 support.
Ethereum Price is Showing Bearish Signs
Ethereum started a strong decline after it failed to stay above $2,000. ETH broke many important supports near $1,850 and $1,800 to move into a short-term bearish zone, similar to bitcoin.
There was also a break below a …