TA: Ethereum Price at Make-or-Break Levels, Rally Remains Attractive To Sellers

Ethereum declined below the $1,350 support against the US Dollar. ETH could start a steady increase if there is a clear above the $1,350 resistance. Ethereum started a fresh decline after it failed to clear the $1,385 resistance zone. The price is now trading below $1,350 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $1,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $1,300 level to avoid a major decline in the near term. Ethereum Price Holds Key Support Ethereum failed to gain pace above the $1,385 and $1,400 resistance levels. ETH topped near the $1,385 level and started a fresh decline. There was a move below the $1,360 and $1,350 support levels. Ether price even settled below the $1,350 and the 100 hourly simple moving average. A low was formed near $1,305 and the price is now slowly moving higher. There was am move above the $1,310 and $1,320 levels. There was a break above a major bearish trend line with resistance near $1,320 on the hourly chart of ETH/USD. The price even climbed above the 23.6% Fib retracement level of the downward move from the $1,385 high to $1,305 low. However, the price faced sellers near the $1,330 level and the 100 hourly simple moving average. On the upside, the price is facing hurdles near $1,325 and $1,330. The first major resistance is seen near the $1,350 level. Source: ETHUSD on Tradi...