{"id":371668,"date":"2019-02-17T04:28:13","date_gmt":"2019-02-17T04:28:13","guid":{"rendered":"https:\/\/wncen.com\/?p=371668"},"modified":"2024-06-11T13:09:12","modified_gmt":"2024-06-11T13:09:12","slug":"ethereum-price-weekly-analysis-eth-primed-to-rise-further-above-125","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-weekly-analysis-eth-primed-to-rise-further-above-125\/","title":{"rendered":"Ethereum Price Weekly Analysis: ETH Primed To Rise Further Above $125"},"content":{"rendered":"
Ethereum price is placed nicely in a positive zone versus the US Dollar and Bitcoin. ETH\/USD could soon make the next move either above $125 or below the $119 support.<\/em><\/p>\n This past week, there was a solid upward move<\/a> above the $120 resistance in ETH price against the US Dollar. The ETH\/USD pair traded towards the $125 area, where sellers emerged. Later, the price started a major consolidation pattern below the $125 zone. During the consolidation, there were a few attempts to clear the $125 resistance, but buyers failed. Besides, there were bearish waves as well towards the $120 level. The last swing low was formed at $115 and the last swing high was near $124. The price is currently trading near the $122 level and well above the 100 simple moving average (4-hours).<\/p>\n The 23.6% Fib retracement level of the last wave from the $115 low to $124 high is near the $122 level to act as a support. It seems like there is a contracting triangle in place with resistance at $124 on the 4-hours chart of ETH\/USD. If there is an upside break above the triangle resistance and $125, there are chances of a solid upside continuation. The next resistance above $125 is near the $128 and $130 levels. The main resistance is at $134, where sellers are likely to appear.<\/p>\n On the other hand, if there is a downside break<\/a> below the $120 and $119 supports, there could be more losses. The next key support is at $118 and the 61.8% Fib retracement level of the last wave from the $115 low to $124 high. Below $118, the price could test $116 and the 100 simple moving average (4-hours).<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n