{"id":366905,"date":"2018-12-31T04:08:05","date_gmt":"2018-12-31T04:08:05","guid":{"rendered":"https:\/\/wncen.com\/?p=366905"},"modified":"2024-06-11T13:32:44","modified_gmt":"2024-06-11T13:32:44","slug":"ethereum-price-analysis-eth-bracing-for-next-move-higher","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-bracing-for-next-move-higher\/","title":{"rendered":"Ethereum Price Analysis: ETH Bracing For Next Move Higher"},"content":{"rendered":"
Key Highlights<\/p>\n
Ethereum price is gaining traction against the US Dollar and bitcoin. ETH\/USD must stay above the $131 support initiate a fresh rally above $140.<\/em><\/p>\n Recently, we saw a nice upside move<\/a> from the $114 swing low in ETH price against the US Dollar. The ETH\/USD pair broke the $128 and $130 resistance levels. There was also a close above the $130 level and the 100 hourly simple moving average. The price traded above the $140 level and formed a high at $146.95. Later, there was a downside correction below the $140 level. Sellers pushed the price below the 23.6% Fib retracement level of the last move from the $114 low to $146 high.<\/p>\n However, the decline was protected by the $130 support and the 100 hourly SMA. Moreover, the 50% Fib retracement level of the last move from the $114 low to $146 high acted as a support. If there is a downside break below the 100 SMA and the $130 level, there could be further declines<\/a>. On the upside, there is a strong resistance near $138-140. Besides, there is a short term bearish trend line formed with resistance at $138 on the hourly chart of ETH\/USD.<\/p>\n <\/p>\nEthereum Price Analysis<\/h3>\n