Ethereum Price Analysis: ETH In Trouble, Risk of Breakdown Below $100

2019-1-29 07:08

ETH price failed to bounce back and declined below the $108 and $104 supports against the US Dollar. Yesterday’s highlighted key bearish trend line is intact with resistance at $110 on the hourly chart of ETH/USD (data feed via Kraken). The pair tested the $100 support area once and it corrected above the $104 resistance level.

Ethereum price declined heavily with bearish moves against the US Dollar and bitcoin. ETH/USD is under a lot of pressure and it seems like sellers could attempt to break $100.

Ethereum Price Analysis

Yesterday, we saw a sharp decline below the $116 and $114 support levels in ETH price against the US Dollar. The ETH/USD pair remained in a bearish zone and extended its decline below the $110 level. It even broke the $108 and $104 support levels and traded close to the $100 level. A low was formed near $101 and the price is now trading well below the 100 hourly simple moving average. After forming a low near $101, the price corrected a few points above the $103 and $104 levels.

There was a break above the 23.6% Fib retracement level of the recent drop from the $114 high to $101 low. However, the recovery was capped by the $107-108 resistance area. The price even failed to test the 50% Fib retracement level of the recent drop from the $114 high to $101 low. Moreover, yesterday’s highlighted key bearish trend line is intact with resistance at $110 on the hourly chart of ETH/USD. The current price action is bearish below $108 and it seems like there could be more losses.

Looking at the chart, ETH price might revisit the $100 and $101 support levels in the near term. If sellers remain in action for a long time, there is a risk of a breakdown below the $100 support. The next key support awaits near $95.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is currently in the bullish zone.

Hourly RSI – The RSI for ETH/USD bounced back from the oversold area, but it is still well below the 50 level.

Major Support Level – $101

Major Resistance Level – $108

The post Ethereum Price Analysis: ETH In Trouble, Risk of Breakdown Below $100 appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 2426.3 (-0.01%)
Объем 24H $17.721b
Изменеия 24h: -1.86 %, 7d: -7.31 %
Cегодня L: $2366.56 - H: $2431
Капитализация $292.167b Rank 2
Цена в час новости $ 104.13 (2230.07%)

eth price 100 below 104 resistance ethereum

Источник: newsbtc.com

eth price → Результатов: 126


Фото:

Ethereum posts a new all-time high: What’s next for ETH?

Ethereum (ETH) reentered price discovery mode just four days after reaching an all-time high of $1,764 on Friday. What’s the reason behind the current price increase, and should you buy some ETH now? Fundamental analysis: DeFi sector and institutional inflows push the price up The second-largest cryptocurrency by market capitalization continued its price increase throughout […] The post Ethereum posts a new all-time high: What’s next for ETH? appeared first on Invezz.

2021-2-9 20:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ethereum price briefly touches $2,700 as ETH comes to life

In an exciting turn of events for cryptocurrency enthusiasts, the Ethereum price has briefly touched the $2,700 mark. This resurgence is particularly noteworthy given the broader market dynamics and the strong performance of Bitcoin (BTC), which is nearing its all-time high of $73,794.

Cardano price prediction: will this ghost chain rebound?

Cardano price has been left in the dust this year, as investors focused on its lagging market share across the blockchain industry and its high valuation. ADA has plunged by over 35% this year, while Bitcoin has soared by 65% and moved to its highest level on record.