Ethereum Price Analysis: ETH Recovery Reaches Crucial Turning Point

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Ethereum price started a solid recovery after it traded as low as $163 against the US Dollar. ETH price is currently trading near a major resistance area close to the $180 level. There is a crucial bearish trend line forming with resistance near $181 on the 4-hours chart (data feed from Coinbase). The price could either restart its downtrend or it might climb further above $180 and $185. Ethereum price is rebounding above the $175 level against the US Dollar. However, ETH price must break the $180-$181 resistance are to continue higher. Ethereum Price Analysis This past week, Ethereum price extended its decline below the key $180 and $175 supports against the US Dollar. The ETH/USD pair even broke the $170 support and the 55 simple moving average (4-hours). Finally, the price traded towards $160 and formed a swing low at $163. Later, there was a decent support base formed…

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