Day: April 8, 2021

Ethereum Dips Below $2K, Here’s What Could Trigger A Fresh Increase

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Ethereum extended its decline below the $2,000 support against the US Dollar. ETH price is now consolidating losses and it could start a fresh increase if it clears $2,010. Ethereum extended its decline below the $2,050 and $2,000 support levels. The price is now trading well below $2,050 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,065 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a decent increase if it clears the $2,010 resistance…

Here’s Why Bitcoin Price Could Struggle To Gain Momentum Above $57.5K

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Bitcoin price extended its decline and tested the $55,500 support against the US Dollar. BTC is now recovering, but it is likely to face a strong resistance near the $57,500 level. Bitcoin failed to hold the $57,000 zone and extended its decline towards the $55,500 level. The price is now trading well below the $57,500 support and the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $57,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…