{"id":394927,"date":"2019-09-03T03:08:43","date_gmt":"2019-09-03T03:08:43","guid":{"rendered":"https:\/\/wncen.com\/?p=394927"},"modified":"2024-06-11T13:08:55","modified_gmt":"2024-06-11T13:08:55","slug":"ethereum-price-eth-struggling-near-180-while-bitcoin-breaks-key-resistance","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-eth-struggling-near-180-while-bitcoin-breaks-key-resistance\/","title":{"rendered":"Ethereum Price (ETH) Struggling Near $180 While Bitcoin Breaks Key Resistance"},"content":{"rendered":"
Ethereum price is testing key resistance after a decent rally versus the US Dollar, and bitcoin<\/a> is up 6%. ETH price seems to be struggling near $180 and is correcting lower.<\/em><\/p>\n Yesterday, we discussed a few key resistances for ETH price near the $172 and $175 levels against the US Dollar. The price rallied recently and broke the $175 resistance level. Moreover, there was a close above the $175 level and the 100 hourly simple moving average. More importantly, bitcoin<\/a> price performed really well and surged above the $10,000 and $10,200 resistance levels.<\/p>\n However, Ethereum price ran into a crucial resistance area near $180 (as discussed in the weekly forecast<\/a>). It faced a strong resistance and failed to continue higher above $180. A swing high was formed near $182 and the price is currently correcting gains. It traded below the 23.6% Fib retracement level of the recent rally from the $168 swing low to $182 high.<\/p>\n On the downside, there are a couple of important supports near the $175 level. Additionally, there is a new key bullish trend line forming with support near $175 on the hourly chart of ETH\/USD. The 50% Fib retracement level of the recent rally from the $168 swing low to $182 high is also waiting near the trend line support. Therefore, the $175 level might act as a strong support in the near term.<\/p>\n If the price fails to stay above the $175 support, it could decline further towards the $173 level and the 100 hourly simple moving average. On the upside, the main resistance is near the $180 and $182 levels. A successful close above $180 is needed for bullish continuation. The next key resistances are near the $190 and $192 levels.<\/p>\nEthereum Price Analysis<\/h2>\n