{"id":394218,"date":"2019-08-26T03:08:09","date_gmt":"2019-08-26T03:08:09","guid":{"rendered":"https:\/\/wncen.com\/?p=394218"},"modified":"2024-06-11T13:08:46","modified_gmt":"2024-06-11T13:08:46","slug":"ethereum-price-eth-rally-could-face-bitcoin-up-5","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-eth-rally-could-face-bitcoin-up-5\/","title":{"rendered":"Ethereum Price (ETH) Rally Could Face, Bitcoin Up 5%"},"content":{"rendered":"
Ethereum price is facing a lot of selling interest versus the US Dollar and bitcoin. ETH remains at a risk of a fresh decline despite recent gains in BTC.<\/em><\/p>\n In the weekly forecast<\/a>, as we a few important resistance for ETH price near the $192 and $195 levels against the US Dollar. The price formed a decent support near $182 recently and started an upside correction. The bulls gained traction above the $190 resistance level and the 100 hourly simple moving average. Moreover, bitcoin<\/a> price jumped 5% recently and surged to test the $10,500 resistance level.<\/p>\n Ethereum price also climbed above the 50% Fib retracement level of the recent drop from the $197 high to $182 low. It opened the doors for more gains above the $192 level. Moreover, there was a break above a major declining channel with resistance near $192 on the hourly chart of ETH\/USD. The pair tested the $194-195 resistance area, where the bulls struggled.<\/p>\n It seems like the price faced resistance near the 76.4% Fib retracement level of the recent drop from the $197 high to $182 low. At the moment, the price is trimming gains and is trading near the $192 level. An immediate support is near the $190 level and 100 hourly simple moving average. If the price fails to stay above the $190 support, it could decline back towards the $185 level.<\/p>\n On the upside, the main hurdles are near the $194 and $195 levels. A successful run above the $195 level might set the pace for a move towards the $200 and $202 resistance levels. As long as the price is below the $195 and $200 resistance levels, there is a risk of a fresh decrease in the coming sessions.<\/p>\nEthereum Price Analysis<\/h2>\n