Ethereum (ETH) Price Could Weaken In Short Term But Remains Supported

2019-5-23 06:08

ETH price failed to move above the $265 resistance area and recently declined against the US Dollar. The price traded below the $258 and $252 support levels to start a short term bearish wave. This week’s important bullish trend line was breached with support at $256 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to test the $232 support area, where the bulls are likely to emerge.

Ethereum price started a short term downward move versus the US Dollar and bitcoin. ETH might test $232 or $230 before it could start a fresh increase towards $265 or $270.

Ethereum Price Analysis

In the past three days, Ethereum price mostly traded in a range with positive moves above $250 against the US Dollar. However, the ETH/USD pair struggled to gain momentum above the $265 resistance level. There were two failures recently, resulting in a bearish reaction below $260. The price declined recently and broke the $258 and $252 support levels. Besides, there was a break below the 61.8% Fib retracement level of the upward move from the $239 swing low to $265 resistance.

Moreover, this week’s important bullish trend line was breached with support at $256 on the hourly chart of ETH/USD. The pair is now trading near the last swing low at $239 and it is currently consolidating losses. An initial resistance on the upside is near the $249 level and the 100 hourly simple moving average. However, a proper close above $252 is needed to start an increase towards the $265 resistance. On the downside, the next key support is near the $234 level. It coincides with the 1.236 Fib extension level of the upward move from the $239 swing low to $265 resistance.

If there are more losses below the $233 and $232 supports, the price could test the $224 support area. The stated $224 level acted as a strong support earlier this month. Besides, it is close to the 1.618 Fib extension level of the upward move from the $239 swing low to $265 resistance.

Looking at the chart, Ethereum price is currently trading in a bearish zone below the $252 level and the 100 hourly SMA. Therefore, there is a risk of a downside extension towards the $232 support before the price could stage a fresh increase. In the next few days, a successful close above the $265 resistance might push the price towards the $300 barrier.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining momentum in the bearish zone.

Hourly RSI – The RSI for ETH/USD is currently well below the 40 level, with a neutral bias.

Major Support Level – $232

Major Resistance Level – $252

The post Ethereum (ETH) Price Could Weaken In Short Term But Remains Supported appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3323.05 (-1.75%)
Объем 24H $25.681b
Изменеия 24h: -2.24 %, 7d: -14.62 %
Cегодня L: $3297.22 - H: $3393.89
Капитализация $400.279b Rank 2
Цена в час новости $ 239.39 (1288.13%)

price eth short term ethereum support supported

Источник: newsbtc.com

price eth → Результатов: 126


Ethereum Netflow Spikes To Derivatives Markets – Is a Price Swing on the Horizon?

Ethereum (ETH) has experienced a lackluster phase in recent weeks, with the asset seeing small price surges but still struggling to hold near or above the $3,000 mark after a brief rally in August. According to a recent analysis from a CryptoQuant analyst, the behind the scenes of this price struggle for ETH has been quite interesting, with the asset seeing a significant shift in its netflow.

2024-10-26 11:30


Is This Ethereum ICO Project To Blame For ETH’s Price Slump?

The Ethereum price has fallen by around -25% since its mid-March peak at around $4,100 and is currently trading just above $3,000. While this loss is in line with the broader market trend and in particular Bitcoin’s price drop of about -22% in the same time, there could be another reason for ETH’s price slump, which seems plausible since the German government only sells BTC and not ETH, and Mt.

2024-7-9 19:00


Фото:

ETH’s post-Shapella price outlook: sells outpace buys ahead of Binance withdrawals

Ethereum (ETH) price raced to an 11-month high above $2,142 on Coinbase exchange on Sunday, the major price rally for ETH coming after the cryptocurrency’s successful Shapella upgrade. But what is the latest for Ethereum after it rose despite the sell pressure that followed enabling withdrawals for staked Ether? Kaiko, a leading institutional grade crypto […] The post ETH’s post-Shapella price outlook: sells outpace buys ahead of Binance withdrawals appeared first on Invezz.

2023-4-19 23:44


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

2 reasons why Bitcoin and other crypto just crashed

It was a sea of red in the crypto industry as Bitcoin price dropped below $100,000 briefly and the crypto fear and greed index moved from the extreme greed zone of 88 to 69. So, why did crypto crash this…

Exodus Movement reports more Bitcoin holdings, eyes NYSE uplisting

Exodus Movement announced updated figures for its digital asset holdings and swap volume as Bitcoin surpassed the $100,000 milestone. According to a note sent to crypto. news, the company disclosed preliminary financial data for the fourth quarter of 2024, reflecting…