{"id":369193,"date":"2019-01-25T04:08:12","date_gmt":"2019-01-25T04:08:12","guid":{"rendered":"https:\/\/wncen.com\/?p=369193"},"modified":"2024-06-11T13:07:48","modified_gmt":"2024-06-11T13:07:48","slug":"ethereum-price-analysis-eth-relatively-muted-next-move-finally-coming","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-relatively-muted-next-move-finally-coming\/","title":{"rendered":"Ethereum Price Analysis: ETH Relatively Muted, Next Move Finally Coming?"},"content":{"rendered":"
Ethereum price is confined in a tight range against the US Dollar and bitcoin. ETH\/USD is likely setting up for a major move in the coming sessions either above $120 or below $114.<\/em><\/p>\n Yesterday, we saw a bearish reaction<\/a> from the $119-120 resistance zone in ETH price against the US Dollar. The ETH\/USD pair declined below the $116 level and revisited the $114 support area. There was even a close below the $116 level and the 100 hourly simple moving average. However, there was a strong buying interest near the $114 support area. Moreover, the 61.8% Fib retracement level of the last upside from the $111 low to $120 high acted as a support. The price bounced back and it slowly moved above the $115 and $116 levels.<\/p>\n Besides, there was a break above the 23.6% Fib retracement level of the recent decline from the $120 swing high to $114 swing low. At the outset, the price is approaching key resistances near $117, $119 and $120. More importantly, yesterday\u2019s highlighted declining channel is intact with resistance near $117 on the hourly chart of ETH\/USD. The 100 hourly SMA is also positioned just near the trend line and $117. Finally, the 50% Fib retracement level of the recent decline<\/a> from the $120 swing high to $114 swing low is near $117.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n