{"id":379677,"date":"2019-04-25T04:08:45","date_gmt":"2019-04-25T04:08:45","guid":{"rendered":"https:\/\/wncen.com\/?p=379677"},"modified":"2024-06-11T13:39:31","modified_gmt":"2024-06-11T13:39:31","slug":"ethereum-eth-price-prediction-last-dip","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-prediction-last-dip\/","title":{"rendered":"Ethereum (ETH) Price Prediction: One Last Dip Before Higher?"},"content":{"rendered":"
Ethereum price seems to be struggling below key pivot levels versus the US Dollar and bitcoin<\/a>. ETH could retest the $160 support area before the bulls take a stand.<\/em><\/p>\n Recently, we saw the start of a major downside correction in Ethereum price from the $177 resistance against the US Dollar. The ETH\/USD pair declined below the $170 support level and the 100 hourly simple moving average. The price tested the $166 support level and later corrected a few points. However, the price faced a strong resistance near the $170 resistance. There was a failure near the 50% Fib retracement level of the drop from the $177 high to $166 low.<\/p>\n As a result, the price resumed its decline and it even broke the last swing low near $166. The decline was such that the price surpassed the $162 support and tested the $160 support area. A swing low was formed above $160 and the price recently corrected higher. It broke the 50% Fib retracement level of the recent decline from the $170 swing high to $160 swing low. The bulls were able to push the price above the $165 level as well. However, the $166-167 zone acted as a strong resistance<\/a>.<\/p>\n Ethereum failed to clear the 618% Fib retracement level of the recent decline from the $170 swing high to $160 swing low. There is also a major bearish trend line in place with resistance near $167 on the hourly chart of ETH\/USD. Therefore, the price could decline one more time towards the $160 support area. On the upside, the $167 and $169 levels are major resistances. A close above $169 and the 100 hourly SMA is must for a fresh increase in the near term.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n