{"id":368818,"date":"2019-01-22T04:08:23","date_gmt":"2019-01-22T04:08:23","guid":{"rendered":"https:\/\/wncen.com\/?p=368818"},"modified":"2024-06-11T13:33:06","modified_gmt":"2024-06-11T13:33:06","slug":"ethereum-price-analysis-eth-consolidating-below-crucial-barriers","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-consolidating-below-crucial-barriers\/","title":{"rendered":"Ethereum Price Analysis: ETH Consolidating Below Crucial Barriers"},"content":{"rendered":"
Ethereum price is placed in a bearish zone against the US Dollar and bitcoin. ETH\/USD must break the $118 and $120 resistances to start a short term upside correction.<\/em><\/p>\n Yesterday, we saw a nasty decline<\/a> in ETH price from the $125 swing high against the US Dollar. The ETH\/USD pair broke the $122, $120, $118 and $115 support levels to move into a bearish zone. It tested the $112 support area where buyers emerged. Later, the price started consolidating losses and corrected a few points above the $114 level. It traded above the 23.6% Fib retracement level of the last slide from the $123 swing high to $112 swing low.<\/p>\n However, there are many hurdles on the upside near the $118 level. The price made a couple of attempts to surpass the $117-118 zone, but buyers failed to gain momentum. Besides, the 50% Fib retracement level of the last slide from the $123 swing high to $112 swing low is also near $118. More importantly, yesterday\u2019s highlighted important bearish trend line is intact with resistance at $118 on the hourly chart of ETH\/USD. Finally, the 100 hourly simple moving average<\/a> is positioned near the $120 level. Therefore, both $118 and $120 levels are crucial barriers for buyers in the short term.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n