{"id":379846,"date":"2019-04-26T03:28:51","date_gmt":"2019-04-26T03:28:51","guid":{"rendered":"https:\/\/wncen.com\/?p=379846"},"modified":"2024-06-11T13:05:45","modified_gmt":"2024-06-11T13:05:45","slug":"ethereum-eth-price-sell-rallies","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-sell-rallies\/","title":{"rendered":"Ethereum (ETH) Price Tumbles Back In Bearish Zone, Sell Rallies?"},"content":{"rendered":"
Ethereum price tumbled below many key supports versus the US Dollar and bitcoin<\/a>. ETH price even broke the $150 support zone to move back in a downtrend.<\/em><\/p>\n Yesterday, we discussed the chances of one last dip towards $158<\/a> in Ethereum price against the US Dollar. The ETH\/USD pair failed to stay above the $160 and $158 support levels. There was a strong decline below the $155 support and the price settled well below the 100 hourly simple moving average. The decline was such that the price even failed to stay above the $150 support level. It traded close to the $146 level and formed a new weekly swing low.<\/p>\n At the moment, the price is correcting higher above the $150 level. It broke the 23.6% Fib retracement level of the recent decline from the $165 high to $146 swing low. It seems like the price is back in a downtrend and any recovery towards the $155 level may face sellers. The stated $155 level now coincides with the 50% Fib retracement level of the recent decline from the $165 high to $146 swing low. Above $155, the next major resistance is near the $160 level.<\/p>\n Moreover, yesterday\u2019s highlighted key bearish trend line is intact with resistance near $162 on the hourly chart of ETH\/USD. Below the trend line, the 76.4% Fib retracement level of the recent decline from the $165 high to $146 swing low is near the $161 level. Therefore, any major upside correction<\/a> could face a strong selling interest near the $160, $161 and $162 levels. On the downside, an initial support is near the $145 and $146 levels. Below $145, the price could test the $125 support.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n