Ethereum Price (ETH) In Corrective Increase, Can It Break $180?

2019-9-2 06:08

ETH price is currently correcting higher and is trading above $170 against the US Dollar. The price is likely to face a lot of hurdles on the upside near the $176, $178 and $180 levels. There is a connecting bullish trend line forming with support near $168 on the hourly chart of ETH/USD (data feed via Kraken). The pair might gain bullish momentum if it breaks the $174 level and the 100 hourly SMA.

Ethereum price is slowly correcting higher versus the US Dollar, similar to bitcoin. However, ETH price is likely to fail near the key $180 resistance area in the near term.

Ethereum Price Analysis

This past week, we saw a major decline in ETH price below the $180 support against the US Dollar. Moreover, there was a close below the $175 level and the 100 hourly simple moving average. Finally, the price traded to a new monthly low at $163. Later, the price started consolidating losses and it seems like a decent support base is forming near the $165 level.

Recently, Ethereum price started an upside correction above the $168 level. Moreover, there was a break above the 23.6% Fib retracement level of the downward move from the $188 high to $163 swing low. However, it seems like the price is struggling to surpass the 100 hourly simple moving average, currently at $172. If there is a break above the 100 hourly simple moving average, the price could recover towards $175.

The 50% Fib retracement level of the downward move from the $188 high to $163 swing low is positioned near the $175 level to act as a resistance. However, the main resistance on the upside is near the $180 level (the previous support area). A successful close above $180 is needed for a decent recovery in the coming sessions.

On the downside, an initial support is near the $168 level. Additionally, there is a connecting bullish trend line forming with support near $168 on the hourly chart of ETH/USD. If the pair breaks the $168 support, it could retest the key $165 support area. If there are more downsides below $165, the price could even break the $163 swing low and trade to a new low.

Looking at the chart, Ethereum price might gain bullish momentum if it breaks the $174 level and the 100 hourly SMA. However, it won’t be easy for the bulls to clear the $178-180 resistance area.

ETH Technical Indicators

Hourly MACD – The MACD for ETH/USD is slowly moving into the bullish zone.

Hourly RSI – The RSI for ETH/USD is currently above the 50 level, with a few positive signs.

Major Support Level – $165

Major Resistance Level – $175

The post Ethereum Price (ETH) In Corrective Increase, Can It Break $180? appeared first on NewsBTC.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3225.66 (-1.34%)
Объем 24H $24.934b
Изменеия 24h: -4.15 %, 7d: -19.64 %
Cегодня L: $3225.66 - H: $3302.71
Капитализация $388.555b Rank 2
Цена в час новости $ 173.25 (1761.85%)

eth price 180 ethereum near break corrective

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