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Ethereum Price (ETH) Could Breakdown In Short Term, Bitcoin Down 3%
ETH price is struggling to continue to move higher above the $185 resistance against the US Dollar.The price is likely to decline if bitcoin continues to struggle below the $10,250 level.There is a connecting bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD (data feed via Kraken).The price remains at a risk of more downsides as long as the price is below $185.Ethereum price is struggling to gain strength above $185 versus the US Dollar since Looking at the chart, Ethereum price seems to be currently consolidating in a range below the $182 and $185 resistance levels However, if bitcoin price continues to slide, there are chances of a sharp downward move move in ETH below the $175 support area in the coming sessions.ETH Technical IndicatorsHourly MACD – The MACD for ETH/USD is likely to move back into the bullish zone.Hourly RSI – The RSI for ETH/USD is currently above the 50 level, with a minor bearish angle.Major Support Level – $178Major Resistance Level – $185
Author: Aayush Jindal
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