Ethereum price is struggling to clear the $2,550 resistance. ETH could start a downside correction if there is a move below the $2,475 support.
Ethereum is consolidating gains below the $2,550 resistance zone.
The price is trading above $2,480 and the 100-hourly Simple Moving Average.
There was a break below a connecting bullish trend line with support at $2,515 on the hourly chart of ETH/USD (data feed via Kraken).
The pair could start a fresh increase if it stays above the $2,475 support zone.
Ethereum Price Remains Supported
Ethereum price saw a steady increase after it broke the $2,420 resistance. ETH climbed above $2,450 and $2,500, but it underperformed Bitcoin. Finally, the bears appeared near the $2,550 zone.
A high was formed near $2,536 and the price is now consolidating gains. There was a minor decline below the $2,500 level. There was also a break below a connecting bullish trend line with support at $2,515 on the hourly chart of ETH/USD.
Ethereum is still trading above the
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