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ETH Turns Red Below $3,200
In the past few days, ethereum saw a major decline below the $3,600 zone against the US Dollar. ETH price broke the $3,400 support zone and the 55 simple moving average (4-hours). The price even traded below the $3,200 and $3,150 levels. Finally, the price spiked below the $3,000 support level. The recent low was formed near $2,805 before the price started an upside correction. It broke the $3,000 resistance level.It is now testing the 23.6% Fib retracement level of the recent decline from the $3,675 swing high to $2,805 low. However, the price is now trading below $3,200 and the 55 simple moving average (4-hours). ... (full story)
