Ethereum Breaks USD 4K, Indicators Suggest Short-term Recovery

Ethereum extended decline below the $4,200 support against the US Dollar. ETH spiked below $4,000 and it might now correct higher in the short-term. Ethereum started a fresh decline from the $4,350 and $4,300 resistance levels. The price is now trading below $4,200 and the 100 hourly simple moving average. There is a new rising channel forming with support near $4,000 on the hourly chart of ETH/USD (data feed via Kraken). The pair could extend losses if there is a proper close below $4,000 in the near term. Ethereum Price…

Bitcoin Resumes Decline, What Could Trigger More Downsides

Bitcoin price failed to stay above $60,000 and started a fresh decline against the US Dollar. BTC could extend losses below $55,000 in the near term. Bitcoin started a fresh decline from the $61,000 resistance zone. The price is now trading below $58,000 and the 100 hourly simple moving average. There is a key bearish trend line with resistance near $58,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses below $55,500 and $55,000 in the near term. Bitcoin Price Gains Bearish…