{"id":366476,"date":"2018-12-26T04:08:03","date_gmt":"2018-12-26T04:08:03","guid":{"rendered":"https:\/\/wncen.com\/?p=366476"},"modified":"2024-06-11T13:32:40","modified_gmt":"2024-06-11T13:32:40","slug":"ethereum-price-analysis-eth-consolidating-before-fresh-upside","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-consolidating-before-fresh-upside\/","title":{"rendered":"Ethereum Price Analysis: ETH Consolidating Before Fresh Upside"},"content":{"rendered":"
Key Highlights<\/p>\n
Ethereum price is holding important supports against the US Dollar and bitcoin. ETH\/USD could resume its upward move towards $140 or $142 in the near term.<\/em><\/p>\n Yesterday, we discussed the chances of ETH price holding the 100 hourly simple moving average<\/a> against the US Dollar. The ETH\/USD pair did correct lower and tested the $120-121 support area. However, buyers were able to prevent losses below $121 and the 100 hourly simple moving average. A low was formed at $121.71 and later the price started trading in a range.<\/p>\n The price crawled back above the $130 level, with a positive angle. There was a break above the 23.6% Fib retracement level of the last decline from the $159 high to $121 low. Moreover, there was a break above a short term bearish trend line with resistance at $130 on the hourly chart of ETH\/USD. It has opened the doors for more gains and the price may now trade towards $138 or $140. Besides, the 50% Fib retracement level of the last decline from the $159 high to $121 low is near the $140 level. Therefore, if the price continues to move up<\/a>, it could face resistance near the $140 or $142 levels.<\/p>\n <\/p>\nEthereum Price Analysis<\/h3>\n