{"id":369074,"date":"2019-01-24T04:08:00","date_gmt":"2019-01-24T04:08:00","guid":{"rendered":"https:\/\/wncen.com\/?p=369074"},"modified":"2024-06-11T13:07:50","modified_gmt":"2024-06-11T13:07:50","slug":"ethereum-price-analysis-eth-remains-a-sell-until-it-breaks-120","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-remains-a-sell-until-it-breaks-120\/","title":{"rendered":"Ethereum Price Analysis: ETH Remains A Sell Until It Breaks $120"},"content":{"rendered":"
Ethereum price failed to stay in the positive zone against the US Dollar and bitcoin. ETH\/USD trimmed most its gains and it is likely heading towards the $114 support level.<\/em><\/p>\n Yesterday, we saw a nice upward move<\/a> above the $114 and $115 resistances in ETH price against the US Dollar. The ETH\/USD pair even spiked above the $118 resistance and the 100 hourly simple moving average. However, it failed to break the $120 resistance area. There was also no close above the 61.8% Fib retracement level of the last downside move from the $125 high to $111 swing low. The price started a fresh decline and traded below the $118 level and the 100 hourly SMA.<\/p>\n Moreover, there was a break below the 50% Fib retracement level of the recent wave from the $111 low to $120 swing high. At the outset, there is a short term declining channel formed with resistance near $118 on the hourly chart of ETH\/USD. The channel support is at $114, where buyers are likely to emerge. Above $114, the 61.8% Fib retracement level of the recent wave from the $111 low to $120 swing high is a decent support. Below $114, the price could dip<\/a> towards the $112 and $111 levels.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n