{"id":381779,"date":"2019-05-13T03:18:10","date_gmt":"2019-05-13T03:18:10","guid":{"rendered":"https:\/\/wncen.com\/?p=381779"},"modified":"2024-06-11T13:04:51","modified_gmt":"2024-06-11T13:04:51","slug":"ethereum-eth-price-buying-dips-favored","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-buying-dips-favored\/","title":{"rendered":"Ethereum (ETH) Price In Corrective Decrease: Buying Dips Favored"},"content":{"rendered":"
Ethereum price started a downside correction versus the US Dollar, similar to bitcoin<\/a>. ETH price remains well supported on the downside near $185 and $180.<\/em><\/p>\n In the past three days, there was a steady rise in Ethereum price above $180 resistance against the US Dollar. The ETH\/USD pair followed bitcoin<\/a> and broke a few important resistances near $190 and $195. There was even a break above the $200 barrier. The price traded close to the $208 level<\/a> and settled well above the 100 hourly simple moving average. Recently, it started a downside correction and declined below the $195 and $190 support levels. The price even spiked below the $185 support and traded close to $182.<\/p>\n However, the price is trading well above the $180 support and the 100 hourly SMA. It has already recovered above the 23.6% Fib retracement level of the recent drop from the $204 swing high to $182 swing low. An immediate resistance on the upside is near the $193-194 zone. Besides, the 50% Fib retracement level of the recent drop from the $204 swing high to $182 swing low is also near $193. A successful break above the $194 level might set the pace for a fresh rise towards the $200 resistance area.<\/p>\n On the downside, an immediate support is near the $186 level. There is also a new connecting bullish trend line forming with support near $186 on the hourly chart of ETH\/USD. If there is a downside break below the trend line, the price may test the 100 hourly SMA or the main support near $178.<\/p>\n <\/p>\nEthereum Price Analysis<\/h2>\n