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Ethereum Price Recovery Hindered, Needs to Clear $1,820 for Decent Rise

The price of Ethereum has seen a recovery wave above $1,780 against the US Dollar, but needs to clear the $1,820 level to start a decent rise in the near term. Currently, Ethereum is consolidating below the $1,820 resistance area and trading below the 100 hourly simple moving average. A major bearish trend line is forming with resistance near $1,818 on the hourly chart of ETH/USD, and the pair could start a decent rise if there is consolidation above the $1,820 resistance. However, if Ethereum fails to surpass the $1,820 resistance, it could start another bearish wave, with an initial support near the $1,785 level.

Ethereum Ethereum $3,315.13
-5.16%
Ethereum
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