{"id":401484,"date":"2019-10-16T03:08:26","date_gmt":"2019-10-16T03:08:26","guid":{"rendered":"https:\/\/wncen.com\/?p=401484"},"modified":"2024-06-11T13:31:08","modified_gmt":"2024-06-11T13:31:08","slug":"ethereum-eth-at-risk-of-more-downsides-below-175","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/","title":{"rendered":"Ethereum (ETH) At Risk Of More Downsides Below $175"},"content":{"rendered":"<ul>\n<li>Ethereum price struggled to climb above the $185 resistance and declined recently against the US Dollar.<\/li>\n<li>Bitcoin price is also facing selling interest and it is now trading below the $8,200 support area.<\/li>\n<li>There is a new connecting bearish trend line forming with resistance near $181 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair is likely to decline further below $175 as long as it is trading below the $185 resistance.<\/li>\n<\/ul>\n<p><em>Ethereum price is struggling to climb higher versus the US Dollar, similar to <a href=\"https:\/\/wncen.com\/2019\/10\/15\/bitcoin-btc-price-rebound-seems-likely\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>. Therefore, ETH price could decline below the $175 support in the near term.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>Yesterday, Ethereum tested the $188 resistance area against the US Dollar. However, it struggled to continue higher, resulting in a fresh decline below the $185 level. The stated $185 level later acted as a resistance. ETH price extended its decline below the $180 level and it also settled below the 100 hourly simple moving average. The price even broke the $178 support area and traded to a new weekly low near $177.<\/p>\n<p>A swing low was formed near $177 and the price is currently consolidating losses. It corrected a few points above the $178 level. Moreover, the price tested the 23.6% Fib retracement level of the recent decline from the $188 high to $177 swing low. However, the $180-$182 zone seems to be acting as a resistance for the bulls. More importantly, there is a new connecting bearish trend line forming with resistance near $181 on the hourly chart of ETH\/USD.<\/p>\n<p>Above the trend line, the $183 level might act as a resistance since it coincides with the 100 hourly SMA. Moreover, the 50% Fib retracement level of the recent decline from the $188 high to $177 swing low is also near the $183 level. The <a href=\"https:\/\/wncen.com\/2019\/10\/15\/ethereum-eth-breaks-range-resistance-but-bitcoin-still-struggling\/\" target=\"_blank\" rel=\"noopener noreferrer \">main resistance<\/a> on the upside for Ethereum bulls is near the $185 level, above which it could revisit the $188 resistance.<\/p>\n<p>Conversely, if there is no upside break above the $185 resistance, the price could continue to decline. The main supports are near $178 and $175. A successful close below the $175 support could start a strong decline in the near term.<\/p>\n<p><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/10\/Ethereum-13.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-401485\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/10\/Ethereum-13.png?resize=1828%2C868\" alt=\"Ethereum Price Analysis ETH Chart\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/10\/Ethereum-13.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/10\/Ethereum-13.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/10\/Ethereum-13.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/10\/Ethereum-13.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/10\/Ethereum-13.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/10\/Ethereum-13.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/10\/Ethereum-13.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><\/p>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, Ethereum price is clearly struggling to gain bullish momentum above $185 and $188. Besides, there are many hurdles on the upside near the $192 and $195 levels. Therefore, the price could react to the downside unless the bulls clear the $185 resistance.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is struggling to move into the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently below the 50 level, with a bearish angle.<\/p>\n<p>Major Support Level \u2013 $175<\/p>\n<p>Major Resistance Level \u2013 $185<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price struggled to climb above the $185 resistance and declined recently against the US Dollar. Bitcoin price is also facing selling interest and it is now trading below the $8,200 support area. There is a new connecting bearish trend line forming with resistance near $181 on the hourly chart of ETH\/USD (data feed via Kraken). The pair is likely to decline further below $175 as long as it is trading below the $185 resistance. Ethereum price is struggling to climb higher versus the US Dollar, similar to bitcoin. Therefore, ETH price could decline below the $175 support in the near term. Ethereum Price Analysis Yesterday, Ethereum tested the $188 resistance area against the US Dollar. However, it struggled to continue higher, resulting in a fresh decline below the $185 level. The stated $185 level later acted as a resistance. ETH price extended its decline below the $180 level and it also settled below the 100 hourly simple moving average. The price even broke the $178 support area and traded to a new weekly low near $177. A swing low was formed near $177 and the price is currently consolidating losses. It corrected a few points above the $178 level. Moreover, the price tested the 23.6% Fib retracement level of the recent decline from the $188 high to $177 swing low. However, the $180-$182 zone seems to be acting as a resistance for the bulls. More importantly, there is a new connecting bearish trend line forming with resistance near $181 on the hourly chart of ETH\/USD. Above the trend line, the $183 level might act as a resistance since it coincides with the 100 hourly SMA. Moreover, the 50% Fib retracement level of the recent decline from the $188 high to $177 swing low is also near the $183 level. The main resistance on the upside for Ethereum bulls is near the $185 level, above which it could revisit the $188 resistance. Conversely, if there is no upside break above the $185 resistance, the price could continue to decline. The main supports are near $178 and $175. A successful close below the $175 support could start a strong decline in the near term. Looking at the chart, Ethereum price is clearly struggling to gain bullish momentum above $185 and $188. Besides, there are many hurdles on the upside near the $192 and $195 levels. Therefore, the price could react to the downside unless the bulls clear the $185 resistance. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is struggling to move into the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently below the 50 level, with a bearish angle. Major Support Level \u2013 $175 Major Resistance Level \u2013 $185<\/p>\n","protected":false},"author":67,"featured_media":328921,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[8323,1946],"class_list":["post-401484","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum (ETH) At Risk Of More Downsides Below $175<\/title>\n<meta name=\"description\" content=\"Ethereum price is struggling to climb higher versus the US Dollar, similar to bitcoin. 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Therefore, ETH price could decline below the $175 support in the near term.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-16T03:08:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:31:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth.jpg?fit=1200%2C600\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"600\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Aayush Jindal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@twitter.com\/AayushJs\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aayush Jindal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum (ETH) At Risk Of More Downsides Below $175\",\"datePublished\":\"2019-10-16T03:08:26+00:00\",\"dateModified\":\"2024-06-11T13:31:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/\"},\"wordCount\":424,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth.jpg?fit=1200%2C600\",\"keywords\":[\"ETH\",\"ethereum\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/\",\"name\":\"Ethereum (ETH) At Risk Of More Downsides Below $175\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-at-risk-of-more-downsides-below-175\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/04\/techanalysis-eth.jpg?fit=1200%2C600\",\"datePublished\":\"2019-10-16T03:08:26+00:00\",\"dateModified\":\"2024-06-11T13:31:08+00:00\",\"description\":\"Ethereum price is struggling to climb higher versus the US Dollar, similar to bitcoin. 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His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape. In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions. Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he's trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences. Aayush's journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department. At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he's poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush's unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe. 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