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Ethereum Indicators Suggest ETH at Potentially Significant Turning Point

Ethereum is slowly moving lower below $1,900 against the US Dollar. ETH must stay above $1,850 to avoid more losses in the near term.

  • Ethereum started a downside correction below the $1,920 level.

  • The price is now trading below $1,920 and the 100 hourly simple moving average.

  • There is a key declining channel forming with resistance near $1,900 on the hourly chart of ETH/USD (data feed via Kraken).

  • The pair could continue to decline if it stays below $1,900 and $1,950.

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