Ethereum Trims Gains

Crypto Signals – Ethereum traded to a new all-time high above $4,200 before correcting lower against the US Dollar. ETH price is now trading well below $4,000, with a few bearish signs.

Ethereum extended its rally above $4,000 and it traded to a new all-time high near $4,215.
The price is now correcting below $4,000 and testing the 100 hourly simple moving average.
There was a break below a key bullish trend line with support near $3,980 on the hourly chart of ETH/USD (data feed via Kraken).
The pair is likely to continue lower towards the $3,600 and $3,500 support levels.
Ethereum Price Corrects Lower
Ethereum extended its upward move after it broke the $4,000 resistance zone. ETH price even cleared the $4,150 resistance and $4,200. It traded to a new all-time high near $4,215 before starting a sharp downside correction.

There was a break below the $4,100 and $4,000 support levels. Ether declined heavily below $4,000 and the 100 hourly simple moving average. There was also a break below a key bullish trend line with support near $3,980 on the hourly chart of ETH/USD.

The pair spiked below the $3,600 support on Kraken and it traded as low as $3,501. It is now recovering losses and trading above the $3,800 level. There was a break above the 23.6% Fib retracement level of the recent drop from the $4,213 high to $3,501 low.

Ethereum Trims Gains

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Ethereum continues wild run

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