NewsBTC4 minutes ago

Published on October 03, 2023 05:13 GMT+00:00edited on October 03, 2023 05:14 GMT+00:00

Ethereum price corrected gains from the $1,750 zone against the US dollar. ETH is holding the key $1,620 support and might start a fresh rally.

• Ethereum is correcting gains from the $1,755 high.
• The price is trading below $1,700 and the 100-hourly Simple Moving Average.
• There was a break below a connecting bullish trend line with support near $1,690 on the hourly chart of ETH/USD (data feed via Kraken).
• The pair could start a fresh increase unless there is a close below the $1,620 support.

Ethereum Price Corrects Gains

Ethereum’s price extended its increase above the $1,720 level. ETH even spiked above the $1,750 resistance zone before the bears appeared, like Bitcoin.

A high was formed near $1,755 before there was a downside correction. There was a move below the $1,700 …