{"id":372522,"date":"2019-02-24T05:00:47","date_gmt":"2019-02-24T05:00:47","guid":{"rendered":"https:\/\/wncen.com\/?p=372522"},"modified":"2024-06-11T13:09:13","modified_gmt":"2024-06-11T13:09:13","slug":"ethereum-price-weekly-analysis-eth-sets-new-2019-high-eyes-175","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-weekly-analysis-eth-sets-new-2019-high-eyes-175\/","title":{"rendered":"Ethereum Price Weekly Analysis: ETH Sets New 2019 High, Eyes $175"},"content":{"rendered":"
Ethereum price gained bullish momentum above key resistances versus the US Dollar and Bitcoin. ETH\/USD might continue to rise and it could even break the $170 and $175 levels.<\/em><\/p>\n This past week, we saw a brief consolidation pattern below the $150 resistance in ETH price against the US Dollar. The ETH\/USD pair made many attempts to break the $149 and $150 resistance levels<\/a>, but it failed. There was even a downside correction below the $146 and $145 supports. However, the $138 level acted as a strong support and the price was well above the 100 simple moving average (4-hours). Finally, buyers gained pace and were able to break the $149 and $150 resistance levels.<\/p>\n It broke the $154 resistance as well and climbed above the $160 resistance. More importantly, the price traded to a new 2019 high above the $165 level. A high was formed at $166 and the price is currently correcting lower. An initial support is near the 23.6% Fib retracement level of the last wave from the $139 low to $166 high. However, there are many supports on the downside near the $155 and $153 levels. Moreover, the 50% Fib retracement level of the last wave from the $139 low to $166 high is also placed near the $153 level. Finally, there is a major bullish trend line formed with support near $148 on the 4-hours chart of ETH\/USD.<\/p>\n Clearly, the price remains well supported above the $153 support. The main support<\/a> on the downside could be $151 and the 61.8% Fib retracement level of the last wave from the $139 low to $166 high. On the upside, an initial resistance is near the $168 and $170 levels. If there is a break above the $170 level, the price could test the $175 level.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n