After experiencing difficulty in increasing above the $660 hurdle, ETH's had a lower correction under the $650 area. Ethereum sold under the $640 area, and it even went further down to $630.
Major Signals
- ETH is selling very well over the USD 620 and USD 630 reinforcement areas
- The value is back over the $640 area and the hundred-hour simple moving average
- Ethereum/Dollar is indicating many positive signals and it may increase over $650 soon
But, the $620 reinforcement area was protected by the bulls. A low is seen close to $622 and the value is presently increasing. It regained over the $630, and $635 areas. It also broke over the 59% retracement area of the last decrease from $660 to $622.
Ethereum is presently over the $640 zone and the hundred-hour simple moving average. There is also a significant positive momentum forming with reinforcement close to the $625 on the hourly trend of ETH/USD pair.
What do you think of Ethereum's increase? Let's discuss this in the comments.
