{"id":368171,"date":"2019-01-15T04:08:34","date_gmt":"2019-01-15T04:08:34","guid":{"rendered":"https:\/\/wncen.com\/?p=368171"},"modified":"2024-06-11T13:07:14","modified_gmt":"2024-06-11T13:07:14","slug":"ethereum-price-analysis-eth-breaks-key-resistance-as-sellers-lose-control","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-breaks-key-resistance-as-sellers-lose-control\/","title":{"rendered":"Ethereum Price Analysis: ETH Breaks Key Resistance As Sellers Lose Control"},"content":{"rendered":"
Ethereum price jumped back above key pivot levels against the US Dollar and bitcoin. ETH\/USD could continue to move higher towards $136 after a minor downside correction.<\/em><\/p>\n Yesterday, we saw a nasty decline<\/a> below the $121 and $115 supports in ETH price against the US Dollar. The ETH\/USD pair traded as low as $113.48 and started consolidating. Later, sellers slowly lost control, resulting in a bullish reaction above $115 and $118. The price rallied more than $15 and broke the $121 and $126 resistance levels. There was also a break above the 23.6% Fib retracement level of the last major decline from the $151 high to $113 low.<\/p>\n More importantly, yesterday\u2019s highlighted important bearish trend line was breached at $121 on the hourly chart of ETH\/USD. The pair settled above the $125 level and the 100 hourly simple moving average. It traded close to the 50% Fib retracement level of the last major decline from the $151 high to $113 low. At the moment, the price is consolidating gains above the $125 level and the 100 hourly SMA. Dips from the current levels remain supported near $125 and $124. The main support is now $121-122, below which the price might move back in a bearish zone<\/a>.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n