{"id":367858,"date":"2019-01-11T04:08:49","date_gmt":"2019-01-11T04:08:49","guid":{"rendered":"https:\/\/wncen.com\/?p=367858"},"modified":"2024-06-11T13:07:39","modified_gmt":"2024-06-11T13:07:39","slug":"ethereum-price-analysis-eth-nosedived-more-declines-likely","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-nosedived-more-declines-likely\/","title":{"rendered":"Ethereum Price Analysis: ETH Nosedived, More Declines Likely"},"content":{"rendered":"
Key Highlights<\/p>\n
Ethereum price declined heavily during the past few hours against the US Dollar and bitcoin. ETH\/USD could test $110 or $105 if it fails to recover above $128 and $136.<\/em><\/p>\n Yesterday, we saw a solid support<\/a> near the $144-146 zone for ETH price against the US Dollar. The ETH\/USD pair recently failed to break the $150-151 zone and a bearish trend line. It resulted in a sharp bearish reaction and the price declined below the $146 and $144 supports. Sellers gained control and pushed the price below the $130 level. There was even a close below the $130 level and the 100 hourly simple moving average. A low was formed near $122 and later the price started consolidating losses.<\/p>\n An initial resistance is the 23.6% Fib retracement level of the recent drop from the $151 high to $122 swing low. Moreover, there is also a short term bearish trend line formed with resistance at $128 on the hourly chart of ETH\/USD. If there is a break above the trend line and $128, the price may recover further<\/a>. The next key resistance is near the $126 level. The stated level represents the 50% Fib retracement level of the recent drop from the $151 high to $122 swing low. A proper close above the $136 level is needed for a decent recovery in the near term.<\/p>\n <\/p>\nEthereum Price Analysis<\/h3>\n