{"id":371508,"date":"2019-02-15T04:08:40","date_gmt":"2019-02-15T04:08:40","guid":{"rendered":"https:\/\/wncen.com\/?p=371508"},"modified":"2024-06-11T13:07:37","modified_gmt":"2024-06-11T13:07:37","slug":"ethereum-price-analysis-eth-losing-bullish-momentum-downsides-limited","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-losing-bullish-momentum-downsides-limited\/","title":{"rendered":"Ethereum Price Analysis: ETH Losing Bullish Momentum, Downsides Limited"},"content":{"rendered":"<ul>\n<li>ETH price struggled to stay above the $121 and $119 support levels against the US Dollar.<\/li>\n<li>This week\u2019s followed major bullish trend line was breached with support at $121 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>There is a new connecting bearish trend line in place with resistance at $121 on the same chart.<\/li>\n<li>The price could revisit $121-122 resistance zone, where sellers are likely to reemerge.<\/li>\n<\/ul>\n<p><em>Ethereum price is pointing a few bearish signs against the US Dollar and bitcoin. ETH\/USD is now at a risk of an extended decline towards the $117 or $114 support level in the near term.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>In the past few days, we <a href=\"https:\/\/wncen.com\/2019\/02\/14\/ethereum-price-analysis-eth-primed-for-further-gains-above-125\/\" target=\"_blank\" rel=\"noopener \">saw range moves<\/a> in ETH price below the $124 and $125 resistances against the US Dollar. The ETH\/USD pair failed to break the $125 resistance and it recently declined below the $121 and $119 support levels. The decline was such that there was a spike below the $117 level and the 100 hourly simple moving average. More importantly, this week\u2019s followed major bullish trend line was breached with support at $121 on the hourly chart of ETH\/USD. The pair traded close to the $115 support and later bounced back sharply above $117.<\/p>\n<p>Buyers were able to take the price above the 50% Fib retracement level of the recent decline from the $125 high to $115 low. However, the previous support levels near $121 and $122 are acting as hurdles for buyers. Besides, there is a new connecting bearish trend line in place with resistance at $121 on the same chart. The price also struggled to clear the 61.8% Fib retracement level of the recent decline from the $125 high to $115 low. At the moment, it seems like the price might jump above the $121 level, but upsides are likely to remain capped. If buyers struggle to push the price above the $122-123 zone, there could be a <a href=\"https:\/\/wncen.com\/2019\/02\/13\/ethereum-price-analysis-eth-remains-in-strong-uptrend\/\" target=\"_blank\" rel=\"noopener \">fresh decline<\/a>.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-371509\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-13.png?resize=1828%2C868\" alt=\"Ethereum Price Analysis ETH Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-13.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-13.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-13.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-13.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-13.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-13.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-13.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 somewhat struggling below the $122-123 resistance zone. Having said that, the price needs to clear the last swing high at $125 to continue higher in the near term. If not, there is a risk of more losses below $119 and $117 in the near term. The main supports for a major decline is around the $114 and 115 levels.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD could move back in the bullish zone, but there are many negative signs visible.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD jumped higher after testing the 40 level and it is currently just above 50.<\/p>\n<p>Major Support Level \u2013 $117<\/p>\n<p>Major Resistance Level \u2013 $125<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH price struggled to stay above the $121 and $119 support levels against the US Dollar. This week\u2019s followed major bullish trend line was breached with support at $121 on the hourly chart of ETH\/USD (data feed via Kraken). There is a new connecting bearish trend line in place with resistance at $121 on the same chart. The price could revisit $121-122 resistance zone, where sellers are likely to reemerge. Ethereum price is pointing a few bearish signs against the US Dollar and bitcoin. ETH\/USD is now at a risk of an extended decline towards the $117 or $114 support level in the near term. Ethereum Price Analysis In the past few days, we saw range moves in ETH price below the $124 and $125 resistances against the US Dollar. The ETH\/USD pair failed to break the $125 resistance and it recently declined below the $121 and $119 support levels. The decline was such that there was a spike below the $117 level and the 100 hourly simple moving average. More importantly, this week\u2019s followed major bullish trend line was breached with support at $121 on the hourly chart of ETH\/USD. The pair traded close to the $115 support and later bounced back sharply above $117. Buyers were able to take the price above the 50% Fib retracement level of the recent decline from the $125 high to $115 low. However, the previous support levels near $121 and $122 are acting as hurdles for buyers. Besides, there is a new connecting bearish trend line in place with resistance at $121 on the same chart. The price also struggled to clear the 61.8% Fib retracement level of the recent decline from the $125 high to $115 low. At the moment, it seems like the price might jump above the $121 level, but upsides are likely to remain capped. If buyers struggle to push the price above the $122-123 zone, there could be a fresh decline. Looking at the chart, ETH price is somewhat struggling below the $122-123 resistance zone. Having said that, the price needs to clear the last swing high at $125 to continue higher in the near term. If not, there is a risk of more losses below $119 and $117 in the near term. The main supports for a major decline is around the $114 and 115 levels. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD could move back in the bullish zone, but there are many negative signs visible. Hourly RSI &#8211; The RSI for ETH\/USD jumped higher after testing the 40 level and it is currently just above 50. Major Support Level \u2013 $117 Major Resistance Level \u2013 $125<\/p>\n","protected":false},"author":67,"featured_media":344603,"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-371508","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 Losing Bullish Momentum, Downsides Limited<\/title>\n<meta name=\"description\" content=\"Ethereum price is pointing a few bearish signs against the US Dollar and bitcoin. 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