{"id":392758,"date":"2019-08-11T05:38:18","date_gmt":"2019-08-11T05:38:18","guid":{"rendered":"https:\/\/wncen.com\/?p=392758"},"modified":"2024-06-11T13:24:11","modified_gmt":"2024-06-11T13:24:11","slug":"ethereum-price-weekly-forecast-eth-could-rise-while-btc-struggles","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-could-rise-while-btc-struggles\/","title":{"rendered":"Ethereum Price Weekly Forecast: ETH Could Rise While BTC Struggles"},"content":{"rendered":"
Ethereum price is currently attempting an upside break against the US Dollar, and recovering vs bitcoin<\/a>. ETH price might rise in the near term even if BTC continues to slide.<\/em><\/p>\n This past week, bitcoin<\/a> and Ethereum made attempts to climb above $12,000 and $240 respectively against the US Dollar. However, both failed to gain momentum and the ETH\/USD pair started a major decline. The pair clearly failed to gain traction above $235 and declined below the $230 support. Moreover, there was a break below a crucial support area near the $220 level and the 100 simple moving average (4-hours).<\/p>\n Moreover, there was a break below a major bullish trend line with support near $224 on the 4-hours chart of ETH\/USD. It opened the doors for more losses below the $210 support level. As a result, Ethereum price revisited the $200-201 support area, where the bulls took a stand. Recently, the price started an upside correction above the $205 level.<\/p>\n Additionally, there was a break above the 23.6% Fib retracement level of the downward move from the $239 high to $201 low. However, the price seems to be struggling near the $214 and $215 levels. More importantly, there is a major bearish trend line forming with resistance near $214 on the same chart. Therefore, an upside break above the $215 level might set the pace for more gains.<\/p>\n The next key resistance is near the $220 level and the 100 simple moving average (4-hours). A successful close above the $220 level could clear the path for a move towards the $240 resistance. Conversely, if the price fails to climb above $215 or $220, it could slide back towards the $200 support.<\/p>\nEthereum Price Weekly Analysis<\/h2>\n