{"id":393884,"date":"2019-08-22T03:08:11","date_gmt":"2019-08-22T03:08:11","guid":{"rendered":"https:\/\/wncen.com\/?p=393884"},"modified":"2024-06-11T13:24:36","modified_gmt":"2024-06-11T13:24:36","slug":"ethereum-price-eth-turned-sell-on-rallies-as-bitcoin-dives-8","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-eth-turned-sell-on-rallies-as-bitcoin-dives-8\/","title":{"rendered":"Ethereum Price (ETH) Turned Sell On Rallies As Bitcoin Dives 8%"},"content":{"rendered":"
Ethereum price is trading in a bearish zone below $190 versus the US Dollar, and bitcoin declined 8%<\/a>. ETH might correct a few points, but the bulls could struggle to gain traction.<\/em><\/p>\n After a strong rejection near the $200 and $202 resistance levels, ETH price declined heavily against the US Dollar. There were also bearish moves in bitcoin and ripple<\/a> below $10,000 and $0.2800 respectively. It opened the doors for more losses and ETH declined below the key $190 support level. Moreover, there was a break below the $188 level plus a close below the 100 hourly simple moving average.<\/p>\n Ethereum price tested the $180 support level and recently corrected higher. There was a break above the $185 level plus the 23.6% Fib retracement level of the recent decline from the $203 high to $180 swing low. However, the upward move was capped by the $190 resistance. Moreover, the price failed to test the 50% Fib retracement level of the recent decline from the $203 high to $180 swing low.<\/p>\n There is also a connecting bearish trend line forming with resistance near $190 on the hourly chart of ETH\/USD. The pair is now trading well below the $190 resistance and the 100 hourly SMA. On the downside, an immediate support is near the $180 level. If there is a bearish break below $180, Ethereum price is likely to accelerate its decline towards $175 and $172.<\/p>\n On the upside, the bulls are facing a strong resistance near the $190 zone. Therefore, a successful close above the $190 resistance and the 100 hourly SMA is needed for a fresh increase. The next immediate resistance is near the $195 level, followed by the main $202 resistance.<\/p>\nEthereum Price Analysis<\/h2>\n