Ethereum Price Analysis: ETH Resumes Decline, Can $100 Hold Losses?

2019-2-1 07:08

ETH price failed to hold gains above the $105 level and declined sharply against the US Dollar. There was a break below a major bullish trend line with support at $105 on the hourly chart of ETH/USD (data feed via Kraken). The pair might correct higher in the short term, but the $106 and $107 levels are likely to prevent gains.

Ethereum price started a fresh decline against the US Dollar and bitcoin. ETH/USD is still at a risk of a major downside break if the $100 support fails to hold.

Ethereum Price Analysis

After a decent upside correction, ETH price faced a strong resistance near the $110 level against the US Dollar. The ETH/USD pair topped near the $111 level and started a fresh decline. It broke the $107 support to enter a bearish zone. Later, buyers were able to push the price below the 50% Fib retracement level of the last leg from the $101 low to $111 high. More importantly, there was a break and close below $105 plus the 100 hourly simple moving average.

During the decline, there was a break below a major bullish trend line with support at $105 on the hourly chart of ETH/USD. The pair is now trading in a bearish zone below the $105 level and the 100 hourly SMA. An initial support is near the $103 level. It coincides with the 76.4% Fib retracement level of the last leg from the $101 low to $111 high. If the price fails to stay above the $103 level, there is a risk of a drop to $101. The main support remains at $100, below which sellers are likely to take control.

Looking at the chart, ETH price might correct higher in the short term, but there are many hurdles on the upside near $106. The key resistance is near the $107 level and the 100 hourly SMA, above which the price may retest $110.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD has moved back in the bearish zone.

Hourly RSI – The RSI for ETH/USD declined and moved below the 50 level, with a bearish angle.

Major Support Level – $101

Major Resistance Level – $107

The post Ethereum Price Analysis: ETH Resumes Decline, Can $100 Hold Losses? 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 $ 105.34 (2203.3%)

eth price hold losses ethereum 105 resumes

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.