{"id":397039,"date":"2019-09-25T03:08:21","date_gmt":"2019-09-25T03:08:21","guid":{"rendered":"https:\/\/wncen.com\/?p=397039"},"modified":"2024-06-11T13:25:46","modified_gmt":"2024-06-11T13:25:46","slug":"ethereum-eth-price-flash-crash-to-150-bitcoin-dives-10","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-price-flash-crash-to-150-bitcoin-dives-10\/","title":{"rendered":"Ethereum (ETH) Price Flash Crash To $150, Bitcoin Dives 10%"},"content":{"rendered":"
Ethereum price is back in a downtrend below $185 versus the US Dollar, similar to bitcoin<\/a> below $10,000. ETH price might correct higher, but it is likely to struggle near $185.<\/em><\/p>\n In the past few hours, there was a sharp decline in Ethereum, bitcoin, ripple<\/a>, and major other cryptocurrencies against the US Dollar. ETH price tumbled below the $200 and $185 support levels. Moreover, there was a close below the $185 level and the 100 hourly simple moving average. The decline was such that the price crashed close to $150 on the Kraken exchange. A new monthly low was formed near $152 and the price is currently correcting higher.<\/p>\n There was a break above the $165 level, plus the 23.6% Fib retracement level of the recent drop from the $210 high to $152 swing low. The price is now trading above the $170 level, but there are many hurdles on the upside near the $180 and $182 levels. Moreover, there is a new major bearish trend line forming with resistance near $182 on the hourly chart of ETH\/USD.<\/p>\n The trend line coincides with the 50% Fib retracement level of the recent drop from the $210 high to $152 swing low. More importantly, the previous support near the $185 level might once again act as a resistance. Above $185, Ethereum price could recover towards the $200 resistance area and the 100 hourly SMA. Conversely, the price could complete the current correction near the $180 or $185 resistance.<\/p>\n An initial support on the downside is near the $165 level. If there is a fresh decrease below $165, the price may perhaps retest the $152 low. Any further losses could push the price below the $150 support area in the coming sessions.<\/p>\nEthereum Price Analysis<\/h2>\n