{"id":368013,"date":"2019-01-13T05:18:17","date_gmt":"2019-01-13T05:18:17","guid":{"rendered":"https:\/\/wncen.com\/?p=368013"},"modified":"2024-06-11T13:32:56","modified_gmt":"2024-06-11T13:32:56","slug":"ethereum-price-weekly-analysis-eth-could-accelerate-losses-below-121","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-weekly-analysis-eth-could-accelerate-losses-below-121\/","title":{"rendered":"Ethereum Price Weekly Analysis: ETH Could Accelerate Losses Below $121"},"content":{"rendered":"
Ethereum price is trading in a bearish zone versus the US Dollar and Bitcoin. ETH\/USD could accelerate losses towards $112 or $108 if there is a break below $121.<\/em><\/p>\n This past week, ETH price tumbled below the $146 and $140 support levels<\/a> against the US Dollar. The ETH\/USD pair even traded below the $130 support and the 100 simple moving average (4-hours). The decline was such that the price tested the last swing low of $120-121. Later, the price started consolidating losses and traded in a range above the $121 level. An initial resistance is near the $128-129 zone (the previous support).<\/p>\n Besides, the 23.6% Fib retracement level of the last decline from the $153 high to $121 low is also near the $128 area. Therefore, it won\u2019t be easy for buyers to clear the $128-129 resistance zone. If there is an upside break above $128, the price may climb towards the $138 zone. The 100 simple moving average (4-hours) is positioned near the $138 area to prevent further gains. Moreover, the 50% Fib retracement level of the last decline from the $153 high to $121 low is at $137. Finally, there is a crucial bearish trend line formed with resistance at $138 on the 4-hours chart of ETH\/USD. Therefore, the $128 and $138 levels are the main hurdles<\/a> for buyers in the coming days.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n