NewsBTC9 minutes ago

Published on August 11, 2023 05:34 GMT+00:00edited on August 11, 2023 05:39 GMT+00:00

Ethereum price is correcting gains from the $1,880 zone against the US Dollar. ETH could spike toward $1,820 before the bulls attempt a fresh increase.

• Ethereum is moving lower from the $1,875 and $1,880 resistance levels.
• The price is trading below $1,850 and the 100-hourly Simple Moving Average.
• There is a bullish flag pattern forming with resistance near $1,855 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could drop toward the $1,820 support where the bulls might take a stand.

Ethereum Price Dips Again

Ethereum’s price struggled to clear the $1,880 resistance zone and started a downside correction. ETH slowly moved lower below the $1,850 pivot level, similar to Bitcoin.

There was a drop below the 23.6% Fib retracement level of the key increase from the …