{"id":368536,"date":"2019-01-18T04:08:11","date_gmt":"2019-01-18T04:08:11","guid":{"rendered":"https:\/\/wncen.com\/?p=368536"},"modified":"2024-06-11T13:07:24","modified_gmt":"2024-06-11T13:07:24","slug":"ethereum-price-analysis-eth-could-rally-if-116-support-holds","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-could-rally-if-116-support-holds\/","title":{"rendered":"Ethereum Price Analysis: ETH Could Rally If $116 Support Holds"},"content":{"rendered":"<ul>\n<li>ETH price is currently consolidating above the $116 and $117 support levels against the US Dollar.<\/li>\n<li>Yesterday\u2019s highlighted key bearish trend line is active with resistance at $126 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair may gain bullish momentum sooner or later as long as it is above the $116 support.<\/li>\n<\/ul>\n<p><em>Ethereum price is trading in ranges against the US Dollar and bitcoin. ETH\/USD might start a solid upward move if it continues to hold the $116 support area in the near term.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>Recently, <a href=\"https:\/\/wncen.com\/2019\/01\/17\/ethereum-price-analysis-eth-buyers-not-out-of-woods-yet\/\" target=\"_blank\" rel=\"noopener \">ETH price climbed<\/a> above the $125 resistance made an attempt to break $128 against the US Dollar. However, the ETH\/USD pair failed to gain strength above the $128 resistance and later declined. It moved below the $125 and $123 support levels. More importantly, there was a break below the $121 level and the 100 hourly simple moving average. However, the $116 and $117 support levels once again acted as a solid support and prevented more declines.<\/p>\n<p>A low was formed near $117.27 and the price later recovered. It climbed above the 23.6% Fib retracement level of the last drop from the $128 high to $117 low. On the upside, there are many hurdles for buyers, starting with the $123 level and the <a href=\"https:\/\/wncen.com\/2019\/01\/16\/ethereum-price-analysis-eth-stays-bullish-despite-constantinople-fork-delay\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a>. It also coincides with the 50% Fib retracement level of the last drop from the $128 high to $117 low. Besides, yesterday\u2019s highlighted key bearish trend line is active with resistance at $126 on the hourly chart of ETH\/USD. An intermediate resistance is near the $125 level and the 61.8% Fib retracement level of the last drop.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-368537\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ethereum-14.png?resize=1828%2C869\" alt=\"Ethereum Price Analysis ETH Chart\" width=\"1828\" height=\"869\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ethereum-14.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ethereum-14.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ethereum-14.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ethereum-14.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ethereum-14.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ethereum-14.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/01\/Ethereum-14.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">chart<\/a>, ETH price is likely to struggle to clear the $123, $125 and $128 resistance levels. Having said that, as long as the price is above $116, it could start a steady rise in the near term.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slightly placed in the bullish zone, with a flat structure.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is moving nicely above the 50 level, but with no bullish signals.<\/p>\n<p>Major Support Level \u2013 $116<\/p>\n<p>Major Resistance Level \u2013 $128<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH price is currently consolidating above the $116 and $117 support levels against the US Dollar. Yesterday\u2019s highlighted key bearish trend line is active with resistance at $126 on the hourly chart of ETH\/USD (data feed via Kraken). The pair may gain bullish momentum sooner or later as long as it is above the $116 support. Ethereum price is trading in ranges against the US Dollar and bitcoin. ETH\/USD might start a solid upward move if it continues to hold the $116 support area in the near term. Ethereum Price Analysis Recently, ETH price climbed above the $125 resistance made an attempt to break $128 against the US Dollar. However, the ETH\/USD pair failed to gain strength above the $128 resistance and later declined. It moved below the $125 and $123 support levels. More importantly, there was a break below the $121 level and the 100 hourly simple moving average. However, the $116 and $117 support levels once again acted as a solid support and prevented more declines. A low was formed near $117.27 and the price later recovered. It climbed above the 23.6% Fib retracement level of the last drop from the $128 high to $117 low. On the upside, there are many hurdles for buyers, starting with the $123 level and the 100 hourly simple moving average. It also coincides with the 50% Fib retracement level of the last drop from the $128 high to $117 low. Besides, yesterday\u2019s highlighted key bearish trend line is active with resistance at $126 on the hourly chart of ETH\/USD. An intermediate resistance is near the $125 level and the 61.8% Fib retracement level of the last drop. Looking at the chart, ETH price is likely to struggle to clear the $123, $125 and $128 resistance levels. Having said that, as long as the price is above $116, it could start a steady rise in the near term. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slightly placed in the bullish zone, with a flat structure. Hourly RSI &#8211; The RSI for ETH\/USD is moving nicely above the 50 level, but with no bullish signals. Major Support Level \u2013 $116 Major Resistance Level \u2013 $128<\/p>\n","protected":false},"author":67,"featured_media":328919,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8323,1946],"class_list":["post-368536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Price Analysis: ETH Could Rally If $116 Support Holds<\/title>\n<meta name=\"description\" content=\"Ethereum price is trading in ranges against the US Dollar and bitcoin. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Price Analysis: ETH Could Rally If $116 Support Holds","url":"http:\/\/wncen.com\/news\/ethereum-price-analysis-eth-could-rally-if-116-support-holds\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-price-analysis-eth-could-rally-if-116-support-holds\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth3.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth3.jpg?fit=1200%2C600"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum"],"dateCreated":"2019-01-18T04:08:11Z","datePublished":"2019-01-18T04:08:11Z","dateModified":"2024-06-11T13:07:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Analysis: ETH Could Rally If $116 Support Holds\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-price-analysis-eth-could-rally-if-116-support-holds\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-price-analysis-eth-could-rally-if-116-support-holds\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/techanalysis-eth3.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/04\\\/techanalysis-eth3.jpg?fit=1200%2C600\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\"],\"dateCreated\":\"2019-01-18T04:08:11Z\",\"datePublished\":\"2019-01-18T04:08:11Z\",\"dateModified\":\"2024-06-11T13:07:24Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth3.jpg?fit=1200%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/368536"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=368536"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/368536\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/328919"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=368536"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=368536"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=368536"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}