- ETH price is under a lot of pressure below the $170 and $175 resistances against the US Dollar.
- The price is likely to decline sharply if it settles below the $165 support area in the near term.
- There is a declining channel forming with resistance near $169 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair could start a decent recovery if the bulls manage to push the price above the $175 resistance.
Many believe ETH should be priced much higher that what it is right now. After all while BTC was at $20000 ATH, ETH was about $ 1200. Now BTC is almost half that price but ETH is about less than 20% of the ATH.
Why things are falling in crypto? :
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