2.4 C
Manchester
November 19, 2019
Image default
BTC

Ethereum (ETH) Rebound Faces Major Hurdle Near $180

  • Ethereum value is presently correcting larger, however it’s dealing with a powerful resistance close to $180 in opposition to the US Dollar.
  • Bitcoin value is up greater than 1.5%, however it is usually dealing with resistance $eight,120 and $eight,200.
  • This week’s adopted main bearish development line was breached with resistance close to $174 on the hourly chart of ETH/USD (information feed by way of Kraken).
  • The pair is clearly dealing with a powerful resistance close to the $180 stage and the 100 hourly SMA.

Ethereum value is presently recovering larger versus the US Dollar, much like bitcoin. However, ETH value should settle above $180 to proceed larger within the close to time period.

Ethereum Price Analysis

Yesterday, we noticed an prolonged decline in Ethereum beneath the $180 assist in opposition to the US Dollar. Moreover, ETH value settled beneath the $180 assist and the 100 hourly easy transferring common. The decline was such that the value traded near the $170 stage. A swing low was fashioned close to $171 earlier than the value began an upside correction. It recovered above the $174 and $175 resistances.

Additionally, this week’s adopted main bearish development line was breached with resistance close to $174 on the hourly chart of ETH/USD. The pair climbed above the 23.6% Fib retracement stage of the final decline from the $188 excessive to $171 low. Finally, the value spiked above the $178 resistance space. However, the upward transfer is dealing with hurdle close to the $180 resistance and the 100 hourly easy transferring common.

Moreover, the value failed to check the 50% Fib retracement stage of the final decline from the $188 excessive to $171 low. Ethereum retreated from highs and it’s presently buying and selling beneath $178. It looks like the $180 space and the 100 hourly SMA are essential obstacles. Therefore, a profitable shut above $180 might push the bulls to proceed larger within the close to time period.

If not, there’s a danger of one other decline beneath the $175 stage. The principal assist is close to the $172 and $170 ranges. If there are extra downsides, the value is prone to speed up its decline beneath the $165 stage. The subsequent key assist is close to the $160 stage.

Looking on the chart, Ethereum value is dealing with a powerful resistance close to the $180 stage and the 100 hourly SMA. If there’s a profitable shut above $180, the value might get well in the direction of the $185 stage. An intermediate resistance is close to the 61.eight% Fib retracement stage of the final decline from the $188 excessive to $171 low.

ETH Technical Indicators

Hourly MACDThe MACD for ETH/USD is prone to transfer into the bearish zone.

Hourly RSIThe RSI for ETH/USD is presently transferring decrease in the direction of the 50 stage.

Major Support Level – $170

Major Resistance Level – $180

Related posts

Bitcoin Collapses below $7,500 after Brexit Breakthrough

admin

Canadian Bank Changes Bitcoin Tune, May Launch Cryptocurrency Exchange

admin

Ethereum Price Surges 6% to Top $210: FOMO in Full Swing

admin

Leave a Comment

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.