Ethereum price failed to stay above the 0.0355BTC resistance and recently declined against bitcoin. ETH/BTC is now trading near a crucial support and preparing for the next break.
Key Talking Points
- Ethereum price retreated from the 0.0357BTC level and declined below 0.0350BTC against bitcoin.
- There is a major bullish trend line in place with support at 0.0342BTC on the 4-hours chart of the ETH/BTC pair (data feed from Poloniex).
- The pair is likely preparing for the next break either above 0.0350BTC or towards 0.0334BTC.
Ethereum Price Chart Analysis
Recently, Ethereum price climbed higher above 0.0350BTC and 0.0355BTC. However, the price failed to hold gains above the 0.0355BTC level, formed a high near 0.0357BTC and later started a strong downward move.
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