{"id":375334,"date":"2019-03-20T04:08:56","date_gmt":"2019-03-20T04:08:56","guid":{"rendered":"https:\/\/wncen.com\/?p=375334"},"modified":"2024-06-11T13:38:52","modified_gmt":"2024-06-11T13:38:52","slug":"ethereum-price-analysis-eth-trading-near-crucial-juncture","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-analysis-eth-trading-near-crucial-juncture\/","title":{"rendered":"Ethereum Price Analysis: ETH Trading Near Crucial Juncture"},"content":{"rendered":"
Ethereum price is trading below important resistances against the US Dollar and bitcoin<\/a>. ETH must break the $138 and $140 resistance to avoid a sharp downside reaction in the near term.<\/em><\/p>\n Recently, we saw a downside correction in ETH price below the $140 and $138 supports against the US Dollar. The ETH\/USD pair tested the $135 support level and later started consolidating in a range. It recovered a few points above the $136 level and the 100 hourly simple moving average. There was also a break above the 23.6% Fib retracement level of the last drop from the $141 high to $135 low. \u00a0However, the price faced a strong resistance near the $138 and $139 levels.<\/p>\n Sellers defended the 50% Fib retracement level of the last drop from the $141 high to $135 low. More importantly, yesterday\u2019s key bearish trend line is intact with resistance near $138 on the hourly chart of ETH\/USD. Therefore, there is a strong resistance<\/a> formed near $138. A proper close above the trend line could push the price towards the $141 resistance area. Once there is a follow through above the $141 swing high, the price may continue to rise towards the $144 and $145 levels.<\/p>\n On the other hand, if buyers fail to gain strength above the trend line and $139, there could be a sharp decline. An immediate support is near the $135 level. However, in the mentioned bearish scenario, there are chances of a fresh weekly low near the $133 or $132 support. If there are more declines, the price could head towards the key $129 support area.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n