{"id":373888,"date":"2019-03-08T04:08:24","date_gmt":"2019-03-08T04:08:24","guid":{"rendered":"https:\/\/wncen.com\/?p=373888"},"modified":"2024-06-11T13:07:26","modified_gmt":"2024-06-11T13:07:26","slug":"ethereum-price-analysis-eth-could-turn-bearish-again-below-134","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-could-turn-bearish-again-below-134\/","title":{"rendered":"Ethereum Price Analysis: ETH Could Turn Bearish Again Below $134"},"content":{"rendered":"
Ethereum price is struggling to hold recent gains against the US Dollar and bitcoin. ETH\/USD is now at a risk of a downside break if the $134 support fails to hold the current decline.<\/em><\/p>\n In the past few sessions, ETH price faced a strong barrier near the $139 and $140 resistance levels<\/a> against the US Dollar. The ETH\/USD pair made a couple of attempts to surpass the $140 barrier, but buyers failed to gain momentum. The last swing high was formed just below $140 before the price started a fresh downside move. Sellers gained pace and pushed the price below the $138 and $136 support levels.<\/p>\n During the decline, yesterday\u2019s highlighted ascending channel with support at $137 was breached on the hourly chart of ETH\/USD. The pair dropped sharply towards the $134 support level, where buyers emerged. More importantly, the 100 hourly simple moving average acted as a strong support near the $134 level. Later, the price recovered above the $135 level and the 50% Fib retracement level of the recent drop from the $140 swing high to $134 low. However, the upside move was capped by the broken channel trend line and the $137.50 level.<\/p>\n Besides, the 61.8% Fib retracement level of the recent drop from the $140 swing high to $134 low acted as a significant resistance. The price fails to move above $138 and it is currently following a bearish path. On the downside, the $134 support and the 100 hourly SMA<\/a> are important barriers for sellers. If they succeed in taking out $134, there could be a sharp drop in Ethereum price below the $132 level. The next key support is near the $129 level, which was a resistance earlier.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n