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Ethereum (ETH) Recovering Nicely While Bitcoin Runs Into Resistance

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Ethereum (ETH) Recovering Nicely While Bitcoin Runs Into Resistance

Ethereum price is up more than 3% and recovering above $188 against the US Dollar.There was a decent upside correction from the $180 support area.There is a key bullish trend line forming with support near $186 on the hourly chart of ETH/USD (data feed via Kraken).Ethereum PriceLooking at the chart, Ethereum price is showing decent recovery signs above the $186 and $188 levels. Having said that, bitcoin is facing a strong resistance near $9,100. If BTC clears $9,100, there could be another upward move in ETH above the $192 and $195 resistance levels.ETH Technical IndicatorsHourly MACD The MACD for ETH/USD is slowly moving into the bearish zone.Hourly RSI The RSI for ETH/USD is currently well above the 50 level, with positive signs.Major Support Level – $186Major Resistance Level – $192

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Author: Aayush Jindal

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