Ethereum (ETH) Price Corrects Sharply: Is This Buying Opportunity?

techanalysis eth 1500x700

ETH price traded further higher towards the $180 level before correcting lower against the US Dollar.The price dipped sharply below the $170 and $165 support levels to move into a short term bearish zone.Yesterday’s highlighted key bullish trend line was breached with support at $173 on the hourly chart of ETH/USD (data feed via Kraken).The pair found a strong buying interest near the $155 support and it is currently moving higher.Ethereum price started a major downside correction after a massive upside versus the US Dollar and bitcoin. ETH is likely to bounce back above $170 as long as it is above $155.Ethereum Price AnalysisIn the past two days, we saw a massive rally in bitcoin and Ethereum against the US Dollar. The ETH/USD pair jumped above the $160 and $170 resistance levels. There was a proper close above the $165 level and the 100 hourly simple moving average. The price…

Read the original article here