Ethereum (ETH) Likely To Retest $188 Resistance Before Next Decisive Move

in #ethereum • 5 years ago

Ethereum (ETH) has started the day in green and as we can see on the daily chart for ETH/USD, the price has been forming higher lows since the beginning of the month. This means that Ethereum (ETH) is now close to a breakout but before that, the price may end up retesting the $188 resistance. This retest will most likely be a sharp wick to the upside as the daily candle is very likely to close below the 200 day EMA that lies below the $188 resistance. RSI for ETH/USD has also found trend line support on the daily time frame and indicates that the price could go higher from here to test the strong resistance at $188 once again. It is pertinent to note that the price faced a strong rejection at this level the last time it tested it. Its next attempt of a retest failed as the price was stopped at the 200 day EMA.
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Source: CryptoDaily
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5 years ago in #ethereum by
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