{"id":394027,"date":"2019-08-23T03:08:02","date_gmt":"2019-08-23T03:08:02","guid":{"rendered":"https:\/\/wncen.com\/?p=394027"},"modified":"2024-06-11T13:24:38","modified_gmt":"2024-06-11T13:24:38","slug":"ethereum-price-eth-at-potentially-major-turning-point","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-eth-at-potentially-major-turning-point\/","title":{"rendered":"Ethereum Price (ETH) At Potentially Major Turning Point"},"content":{"rendered":"
Ethereum price is facing a couple of important resistances versus the US Dollar and bitcoin<\/a>. ETH could start another bearish wave if its breaks the $186 support level.<\/em><\/p>\n Recently, ETH price declined sharply<\/a> below the $195 and $190 support levels against the US Dollar. Moreover, the price traded below the $184 support and tested the $180 support. Finally, the bulls managed to protect further losses and the price recently started an upside correction above the $185 level. There was a break above the 50% Fib retracement level of the last key decline from the $204 swing high to $180 low.<\/p>\n Additionally, Ethereum managed to climb above the $190 resistance and 100 hourly simple moving average. However, the previous major support near $195 acted as a strong resistance and prevented further upsides. It seems like the 61.8% Fib retracement level of the last key decline from the $204 swing high to $180 low also acted as a major resistance for the bulls.<\/p>\n At the moment, the price is correcting lower towards the $190 support. More importantly, there is a key contracting triangle forming with resistance near $194 on the hourly chart of ETH\/USD. Therefore, the price seems to be preparing for the next break either above the $195 resistance or below the $188 level. On the upside, a clear break above the $195 resistance could push Ether higher in the coming sessions towards $200.<\/p>\n Conversely, if there is a downside break below the $188 and $185 supports, the price is likely to resume its decline. The next major support is near the $180 level. If there are additional losses, the price is likely to aim the $170 support area in the near term.<\/p>\nEthereum Price Analysis<\/h2>\n