Ethereum extended losses below the $1,200 support against the US Dollar. ETH is consolidating and might even test the $1,000 support zone in the near term.
- Ethereum started a major decline below the $1,320 and $1,250 levels.
- The price is now trading below $1,250 and the 100 hourly simple moving average.
- There is a major bearish trend line forming with resistance near $1,200 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair is recovering, but…
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