{"id":381401,"date":"2019-05-09T03:08:51","date_gmt":"2019-05-09T03:08:51","guid":{"rendered":"https:\/\/wncen.com\/?p=381401"},"modified":"2024-06-11T13:05:09","modified_gmt":"2024-06-11T13:05:09","slug":"ethereum-eth-price-gaining-momentum-bitcoin-fresh-high","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-gaining-momentum-bitcoin-fresh-high\/","title":{"rendered":"Ethereum (ETH) Price Gaining Momentum As Bitcoin Hits Fresh High"},"content":{"rendered":"
Ethereum price is gaining bullish momentum versus the US Dollar, following bitcoin<\/a> price rise. ETH is now placed above $169 and it looks set for more gains towards the $180 level.<\/em><\/p>\n Yesterday, we saw a downside correction in Ethereum price below the $169 support against the US Dollar. The ETH\/USD pair even broke the $168 level and the 100 hourly simple moving average. It tested the key $164-165 support area, where buyers emerged. A swing low was formed near $164 and the price started a fresh rise. It broke the $168 resistance and the 100 hourly SMA. Besides, there was a break above the 23.6% Fib retracement level of the last slide from the $180 high to $164 low.<\/p>\n The price is now trading above the $170 level and the 100 hourly SMA. However, it is facing a strong resistance near the $172 level. There is also a breakout pattern forming with resistance at $172 on the hourly chart of ETH\/USD. Moreover, the 50% Fib retracement level of the last slide<\/a> from the $180 high to $164 low is also acting as a resistance near the $172 level. Therefore, a successful break above the $172 resistance is likely to open the gates for more gains in the near term.<\/p>\n The next key resistance is near $176, above which the price may test the $180 level. Bitcoin<\/a> price recently surged above the $6,080 level, and it seems like it could help Ether as well. If there is a downside correction, the $168 level and the 100 hourly SMA may act as a support. A close below the $168 support might start a slide towards the $164 support.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n