{"id":373296,"date":"2019-03-04T04:08:06","date_gmt":"2019-03-04T04:08:06","guid":{"rendered":"https:\/\/wncen.com\/?p=373296"},"modified":"2024-06-11T13:38:25","modified_gmt":"2024-06-11T13:38:25","slug":"ethereum-price-analysis-eth-turned-sell-until-it-breaks-134","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-turned-sell-until-it-breaks-134\/","title":{"rendered":"Ethereum Price Analysis: ETH Turned Sell Until It Breaks $134"},"content":{"rendered":"
Ethereum price is under pressure below key resistances against the US Dollar and bitcoin. ETH\/USD remains a sell until buyers manage to push the price above the $134-135 resistance area.<\/em><\/p>\n This past week, we saw how ETH price struggled near the $139 and $140 resistances<\/a> against the US Dollar. The ETH\/USD pair made many attempts to break higher towards $145, but it failed. Recently, it formed many swing highs such as $140, $138 and $135 before it started a downside move. Sellers gained pace below the $134 support, with a strong negative angle. There was a sharp drop below the $130 support and the price settled well below the 100 hourly simple moving average.<\/p>\n During the decline, there was a break below a major triangle with support at $131 on the hourly chart of ETH\/USD. The pair even broke the $128 support and traded close to the $127 level. Later, there was a minor bounce above the $128 level. The price recovered above the 23.6% Fib retracement level of the recent decline from the $135 swing high to $127 low. However, the recovery remained capped by the $130 zone. It seems like there is a strong resistance formed near the $131 zone. Besides, the 50% Fib retracement level of the recent decline from the $135 swing high to $127 low is also near $131.<\/p>\n Above the $131 resistance, the next key resistance is near the $134 and $135 levels. More importantly, buyers need to push the price above $136 and the 100 hourly SMA for a sustained move higher. If they fail, there are chances of more losses<\/a> below the $127 swing low.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n