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10 May 2021

TA: Ethereum Consolidates Above $2,700, Here Are Chances of Downward Move

TA: Ethereum Consolidates Above $2,700, Here Are Chances of Downward Move


smart summary beta

It is still trading well above $2,700 and the 100 hourly simple moving average.

There is also a crucial rising channel forming with support near $2,700 on the hourly chart of ETH/USD.

Any more losses could lead the price towards the $2,650 support level and the 100 hourly simple moving average.

If ether fails to stay above the $2,650 support level and the 100 hourly simple moving average, it could dive towards the $2,580 level.

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