{"id":380883,"date":"2019-05-05T04:08:12","date_gmt":"2019-05-05T04:08:12","guid":{"rendered":"https:\/\/wncen.com\/?p=380883"},"modified":"2024-06-11T13:05:05","modified_gmt":"2024-06-11T13:05:05","slug":"ethereum-eth-price-eyes-larger-upward-move-can-bulls-make-it","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-eyes-larger-upward-move-can-bulls-make-it\/","title":{"rendered":"Ethereum (ETH) Price Eyes Larger Upward Move: Can Bulls Make It?"},"content":{"rendered":"
Ethereum price remains in a decent uptrend versus the US Dollar, but in downtrend against bitcoin<\/a>. ETH is struggling to follow BTC\u2019s rise, but it may soon climb higher.<\/em><\/p>\n This past week, Ethereum price formed a decent support base above the $150 level against the US Dollar. The ETH\/USD pair started an upward move after bitcoin<\/a> price started a strong rise above $5,500. There was a strong wave above the $155 and $156 resistance levels. The price even broke the $160 level and settled above the 100 simple moving average (4-hours). The bulls pushed the price towards the $170 level, where sellers emerged.<\/p>\n As a result, there was a downside correction below the $166 and $165 levels. The 50% Fib retracement level of the last wave from the $154 swing low to $169 swing high was breached. Ether price tested the $158-160 support area, where the bulls protected more losses<\/a>. It seems like the 76.4% Fib retracement level of the last wave from the $154 swing low to $169 swing high acted as a support. More importantly, the price is still above $160 and the 100 simple moving average (4-hours).<\/p>\n There is also a major contracting triangle in place with resistance near $167 on the 4-hours chart of ETH\/USD. If there is an upside break above the $165 and $166 levels, the price is likely to grind higher towards the $169 and $170 levels. Above the $170 swing high, the price is likely to rally towards the $180 level. On the other hand, if there is a downside break below the $158 support, the price could start another drop to $150.<\/p>\n <\/p>\nEthereum Price Weekly Analysis<\/h2>\n