{"id":372985,"date":"2019-02-28T04:08:35","date_gmt":"2019-02-28T04:08:35","guid":{"rendered":"https:\/\/wncen.com\/?p=372985"},"modified":"2024-06-11T13:07:46","modified_gmt":"2024-06-11T13:07:46","slug":"ethereum-price-analysis-eth-recovery-facing-significant-resistance","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-recovery-facing-significant-resistance\/","title":{"rendered":"Ethereum Price Analysis: ETH Recovery Facing Significant Resistance"},"content":{"rendered":"<ul>\n<li>ETH price traded lower and broke the recent swing low to form near low near $126 against the US Dollar.<\/li>\n<li>The price bounced back sharply above the $130 resistance after trading to a new weekly low.<\/li>\n<li>There is a significant bearish trend line in place with resistance at $137 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is still facing many strong hurdles near the $137, $138 and $141 resistance levels.<\/li>\n<\/ul>\n<p><em>Ethereum price declined further and later recovered against the US Dollar and bitcoin. However, ETH\/USD is facing a strong resistance near the $137 level, followed by the $141 zone.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>Yesterday, we discussed above a <a href=\"https:\/\/wncen.com\/2019\/02\/27\/ethereum-price-analysis-eth-targets-fresh-weekly-lows-below-130\/\" target=\"_blank\" rel=\"noopener \">fresh weekly low below $130<\/a> in ETH price against the US Dollar. The ETH\/USD pair did trade lower after it failed to move above the $138 and $140 resistance levels. During the decline, there was a break below the 61.8% Fib retracement level of the last leg from the $131 low to $141 high. The decline was strong as the price broke the $131 and $130 support levels. Sellers gained traction and pushed the price to a new weekly low below $130.<\/p>\n<p>A swing low was formed near $126 and later the price bounced back. It recovered nicely above the $128 and $130 resistance levels. Besides, there was a break above the 50% Fib retracement level of the recent drop from the $139 high to $126 low. However, the price is facing a strong resistance near the $136-137 zone. More importantly, there is a significant bearish trend line in place with resistance at $137 on the hourly chart of ETH\/USD. The trend line coincides with the 76.4% Fib retracement level of the recent drop from the $139 high to $126 low.<\/p>\n<p>Finally, the <a href=\"https:\/\/wncen.com\/2019\/02\/26\/ethereum-price-analysis-eth-remains-sell-until-it-breaks-100-sma\/\" target=\"_blank\" rel=\"noopener \">100 hourly simple moving average<\/a> is positioned near the $139 level to act as a strong resistance. Therefore, it seems like there are many resistances formed near $137, $138 and $140 levels. ETH must break the $140 and $141 resistance levels to move into a bullish zone. If it fails to gain pace above $137 and $138, there is a risk of a fresh decline in the near term.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-372987\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-24.png?resize=1828%2C868\" alt=\"Ethereum Price Analysis ETH Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-24.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-24.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-24.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-24.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-24.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-24.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/02\/Ethereum-24.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 bounced back nicely from the $126 swing low. However, it is facing an uphill task near the $137, $138 and $140 levels. A continuous failure to break to the upside may result in more losses below $130.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is about to move back in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD recovered nicely and it managed to move back above the 50 level.<\/p>\n<p>Major Support Level \u2013 $130<\/p>\n<p>Major Resistance Level \u2013 $141<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH price traded lower and broke the recent swing low to form near low near $126 against the US Dollar. The price bounced back sharply above the $130 resistance after trading to a new weekly low. There is a significant bearish trend line in place with resistance at $137 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is still facing many strong hurdles near the $137, $138 and $141 resistance levels. Ethereum price declined further and later recovered against the US Dollar and bitcoin. However, ETH\/USD is facing a strong resistance near the $137 level, followed by the $141 zone. Ethereum Price Analysis Yesterday, we discussed above a fresh weekly low below $130 in ETH price against the US Dollar. The ETH\/USD pair did trade lower after it failed to move above the $138 and $140 resistance levels. During the decline, there was a break below the 61.8% Fib retracement level of the last leg from the $131 low to $141 high. The decline was strong as the price broke the $131 and $130 support levels. Sellers gained traction and pushed the price to a new weekly low below $130. A swing low was formed near $126 and later the price bounced back. It recovered nicely above the $128 and $130 resistance levels. Besides, there was a break above the 50% Fib retracement level of the recent drop from the $139 high to $126 low. However, the price is facing a strong resistance near the $136-137 zone. More importantly, there is a significant bearish trend line in place with resistance at $137 on the hourly chart of ETH\/USD. The trend line coincides with the 76.4% Fib retracement level of the recent drop from the $139 high to $126 low. Finally, the 100 hourly simple moving average is positioned near the $139 level to act as a strong resistance. Therefore, it seems like there are many resistances formed near $137, $138 and $140 levels. ETH must break the $140 and $141 resistance levels to move into a bullish zone. If it fails to gain pace above $137 and $138, there is a risk of a fresh decline in the near term. Looking at the chart, ETH price bounced back nicely from the $126 swing low. However, it is facing an uphill task near the $137, $138 and $140 levels. A continuous failure to break to the upside may result in more losses below $130. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is about to move back in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD recovered nicely and it managed to move back above the 50 level. Major Support Level \u2013 $130 Major Resistance Level \u2013 $141<\/p>\n","protected":false},"author":67,"featured_media":344604,"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-372985","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 Recovery Facing Significant Resistance<\/title>\n<meta name=\"description\" content=\"Ethereum price declined further and later recovered against the US Dollar and bitcoin. 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Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation. As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.","sameAs":["https:\/\/www.linkedin.com\/in\/aayush-jindal-358b6932\/","https:\/\/x.com\/twitter.com\/AayushJs"],"url":"https:\/\/wncen.com\/author\/aayushjindal\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum Price Analysis: ETH Recovery Facing Significant Resistance","url":"http:\/\/wncen.com\/news\/ethereum-price-analysis-eth-recovery-facing-significant-resistance\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum-price-analysis-eth-recovery-facing-significant-resistance\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth4.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth4.jpg?fit=1200%2C600"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Aayush Jindal"}],"creator":["Aayush Jindal"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["eth","ethereum"],"dateCreated":"2019-02-28T04:08:35Z","datePublished":"2019-02-28T04:08:35Z","dateModified":"2024-06-11T13:07:46Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum Price Analysis: ETH Recovery Facing Significant Resistance\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-price-analysis-eth-recovery-facing-significant-resistance\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum-price-analysis-eth-recovery-facing-significant-resistance\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-eth4.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2018\\\/08\\\/techanalysis-eth4.jpg?fit=1200%2C600\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Aayush Jindal\"}],\"creator\":[\"Aayush Jindal\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"eth\",\"ethereum\"],\"dateCreated\":\"2019-02-28T04:08:35Z\",\"datePublished\":\"2019-02-28T04:08:35Z\",\"dateModified\":\"2024-06-11T13:07:46Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth4.jpg?fit=1200%2C600","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/372985"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/67"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=372985"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/372985\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/344604"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=372985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=372985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=372985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}