{"id":366528,"date":"2018-12-27T04:08:09","date_gmt":"2018-12-27T04:08:09","guid":{"rendered":"https:\/\/wncen.com\/?p=366528"},"modified":"2024-06-11T13:32:40","modified_gmt":"2024-06-11T13:32:40","slug":"ethereum-price-analysis-eth-is-at-risk-of-more-losses-below-121","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-is-at-risk-of-more-losses-below-121\/","title":{"rendered":"Ethereum Price Analysis: ETH Is At Risk of More Losses Below $121"},"content":{"rendered":"
Key Highlights<\/p>\n
Ethereum price is facing an uphill task against the US Dollar and bitcoin. ETH\/USD may continue to face a strong resistance near the $130 zone.<\/em><\/p>\n Recently, we saw a minor upside correction<\/a> above $130 in ETH price against the US Dollar. The ETH\/USD pair even moved above the $134 level, but gains were limited. There was even a push above the 23.6% Fib retracement level of the recent drop from the $160 swing high to $121 low. However, the price struggled to settle above the $135 resistance and later declined.<\/p>\n There was a break below the $126 level and the 100 hourly simple moving average. However, the price remained above the $121 support and it is currently consolidating losses. More importantly, there is a major bearish trend line in place with resistance at $130 on the hourly chart of ETH\/USD. A break above trend line and then $131 may push the price towards the $135 resistance. The main resistance<\/a> is near $140 and the 50% Fib retracement level of the recent drop from the $160 swing high to $121 low. On the downside, the $121 support area holds a lot of importance. If there is a break below $121, the price could extend declines.<\/p>\n <\/p>\nEthereum Price Analysis<\/h3>\n