Ethereum (ETH) Price Hesitates But Further Gains Seem Likely

Yesterday, we saw a strong upward move from the $150 support in Ethereum price against the US Dollar. The ETH/USD pair climbed above the $160 resistance the 100 hourly simple moving average. The pair tested the $163 level and recently started a downside correction. It broke the $160 support level to move into a short term bearish zone. There was a break below the 23.6% Fib retracement level of the upside from the $150 low to $163 high.

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