Ethereum is facing a major challenge.

Ether started a recovery wave above the $2,840 level against the US Dollar. There is a major bearish trend line forming with resistance near $900 on the hourly chart of ETH/USD.

Initial resistance is seen near the $900 level and the 100 hourly simple moving average. If price fails to gain pace above $900 resistance, it could start a downside correction.

If ethereum fails to gain pace above the $2,900 resistance, it could start a downside correction. An initial support on the downside is near the $2,860 zone.

read more: Source NewsBTC.com

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