Ethereum price rebounded above the $136.00 level, but struggled to clear $139.00-140.00. ETH/USD could decline again before it tries to climb above $140.00.
- Ethereum price is facing important resistances near the $137.25 and $138.00 levels.
- A crucial bearish trend line is in place with resistance at $136.50 on the 30-minute chart.
- ETH price is likely to dip towards the $133.50 support before it could climb higher.
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Ethereum Price Analysis
After a sharp decline towards the $130.00 support level, Ethereum price recovered above the $133.50 and $135.50 resistance levels. However, ETH/USD failed to stay above the $138.00 and $139.00 levels, resulting in a downside reaction.
Click to Enlarge Chart
Looking at the 30-minute chart of ETH/USD, the pair traded as low as $130.55 and later jumped towards the $139.00 level. The price traded as high as $139.01 and later started a downside correction. It declined below the $137.00 level and the 25 simple moving average…