Ethereum Price (ETH) Could Breakdown In Short Term, Bitcoin Down 3%
- ETH price is struggling to continue to move higher above the $185 resistance against the US Dollar.
- The price is likely to decline if bitcoin continues to struggle below the $10,250 level.
- There is a connecting bearish trend line forming with resistance near $182 on the hourly chart of ETH/USD (data feed via Kraken).
- The price remains at a risk of more downsides as long as the price is below $185.
Ethereum price is struggling to gain strength above $185 versus the US Dollar since is declining. ETH price could spike below the $180 support in the near term.
Ethereum Price Analysis
In the past two days, ETH price made two attempts to surpass the $185 resistance against the US Dollar. However, struggled to climb higher above the $10,350 and $10,400 resistance levels. As a result, Ether price also started showing a few bearish signs below the $185 resistance. On the positive side, the price is holding the main $178 and $180 support levels.
The last swing low was formed near the $177 level.