{"id":395036,"date":"2019-09-04T03:08:28","date_gmt":"2019-09-04T03:08:28","guid":{"rendered":"https:\/\/wncen.com\/?p=395036"},"modified":"2024-06-11T13:08:29","modified_gmt":"2024-06-11T13:08:29","slug":"ethereum-price-eth-could-decline-while-bitcoin-is-gaining-momentum","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-eth-could-decline-while-bitcoin-is-gaining-momentum\/","title":{"rendered":"Ethereum Price (ETH) Could Decline While Bitcoin Is Gaining Momentum"},"content":{"rendered":"
Ethereum price is struggling to continue higher versus the US Dollar, while bitcoin<\/a> is surging. ETH price could retest $174 or $172 before it starts a fresh increase.<\/em><\/p>\n Yesterday, we saw a decent upward move in bitcoin, Ethereum, ripple<\/a> and binance coin<\/a> against the US Dollar. ETH price climbed above the key $172 and $175 resistance levels. Moreover, there was a close above $175 and the 100 hourly simple moving average. However, the price struggled to gain momentum above the $180 and $181 resistance levels. As a result, there was a bearish reaction and the price tested the $175 support area.<\/p>\n Later, it bounced back above $180, but failed to continue higher. A swing high was formed near $183 and the price is currently correcting lower. It traded below the $180 level and the 50% Fib retracement level of the recent wave from the $174 swing low to $183 high. At the moment, a major bullish trend line is at risk with support near $178 on the hourly chart of ETH\/USD.<\/p>\n Moreover, the price is struggling to hold the 61.8% Fib retracement level of the recent wave from the $174 swing low to $183 high. Therefore, Ethereum might continue to move down towards the $175 and $174 support levels. Additionally, the 100 hourly simple moving average is also waiting near the $175 level to act as a support. If there is a break below $174, the price could even test the $172 support area.<\/p>\n On the upside, the key resistance is near the $180 and $182 levels. To continue higher, the price must settle above the $182 level and gain strength above the $183 swing high. If not, there are chances of a downside extension towards the $172 level.<\/p>\nEthereum Price Analysis<\/h2>\n