{"id":403513,"date":"2019-11-07T03:08:42","date_gmt":"2019-11-07T03:08:42","guid":{"rendered":"https:\/\/wncen.com\/?p=403513"},"modified":"2024-06-11T13:33:47","modified_gmt":"2024-06-11T13:33:47","slug":"ethereum-eth-forming-bearish-pattern-186-hold-key","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/","title":{"rendered":"Ethereum (ETH) Forming Bearish Pattern, $186 Hold Key"},"content":{"rendered":"<ul>\n<li>Ethereum price is struggling to climb above the $192 and $195 resistances against the US Dollar.<\/li>\n<li>It seems like a head and shoulders pattern forming with support near the $188 and $186 levels.<\/li>\n<li>This week\u2019s key bullish trend line is intact with support near $188 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>Bitcoin is still facing a lot of hurdles near the $9,400 and $9,500 resistance levels.<\/li>\n<\/ul>\n<p><em>Ethereum price is forming a bearish breakdown pattern versus the US Dollar, while <a href=\"https:\/\/wncen.com\/2019\/11\/06\/bitcoin-btc-price-could-accelerate-to-9-8k-unless-it-breaks-9-2k\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a> is trading below $9,400. ETH price could decline heavily if it breaks $186.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>Recently, there was a decent rise in Ethereum above the $188 and $190 resistance levels against the US Dollar. Moreover, ETH price traded above the <a href=\"https:\/\/wncen.com\/2019\/11\/06\/ethereum-eth-bulls-eyeing-further-upsides-bitcoin-facing-hurdles\/\" target=\"_blank\" rel=\"noopener noreferrer \">$192 resistance area<\/a> and settled above the 100 hourly simple moving average.<\/p>\n<p>However, the price faced a strong resistance near the $195 level and a high was formed near $195. There was a downward move from the $195 and the price traded below the $190 level.<\/p>\n<p>At the outset, Ethereum is holding the $188 and $186 support levels. On the upside, an immediate resistance is near the $192 level. Besides, the 50% Fib retracement level of the recent decline from the $195 high to $188 low is near the $192 zone.<\/p>\n<p>Therefore, an upside break above the $192 level might push the price towards the $195 resistance. An intermediate resistance is near the 76.4% Fib retracement level of the recent decline from the $195 high to $188 low.<\/p>\n<p>On the downside, there are many supports near the $188 and $186 levels. More importantly, this week\u2019s key bullish trend line is intact with support near $188 on the hourly chart of ETH\/USD.<\/p>\n<p>It seems like there is a head and shoulders pattern forming with support near the $188 and $186 levels. Thus, if there is a bearish break below the $186 support, the price could start a fresh decline in the near term.<\/p>\n<p>The next key support is near the $185 level. Any further losses are likely to push the price back towards the main $178 support area.<\/p>\n<figure id=\"attachment_403514\" aria-describedby=\"caption-attachment-403514\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/Ethereum-5.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-403514\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/Ethereum-5.png?resize=1828%2C868\" alt=\"Ethereum Price \" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/Ethereum-5.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/Ethereum-5.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/Ethereum-5.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/Ethereum-5.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/Ethereum-5.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/Ethereum-5.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/Ethereum-5.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-403514\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>Looking at the <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a>, Ethereum price seems to be preparing for the next move, with key supports near $186 and the 100 hourly simple moving average. If the highlighted head and shoulders pattern plays well, the price could decline towards the $180 and $178 support levels in the short term.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is now moving in the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently declining and it is well below the 50 level.<\/p>\n<p>Major Support Level \u2013 $186<\/p>\n<p>Major Resistance Level \u2013 $192<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum price is struggling to climb above the $192 and $195 resistances against the US Dollar. It seems like a head and shoulders pattern forming with support near the $188 and $186 levels. This week\u2019s key bullish trend line is intact with support near $188 on the hourly chart of ETH\/USD (data feed via Kraken). Bitcoin is still facing a lot of hurdles near the $9,400 and $9,500 resistance levels. Ethereum price is forming a bearish breakdown pattern versus the US Dollar, while bitcoin is trading below $9,400. ETH price could decline heavily if it breaks $186. Ethereum Price Analysis Recently, there was a decent rise in Ethereum above the $188 and $190 resistance levels against the US Dollar. Moreover, ETH price traded above the $192 resistance area and settled above the 100 hourly simple moving average. However, the price faced a strong resistance near the $195 level and a high was formed near $195. There was a downward move from the $195 and the price traded below the $190 level. At the outset, Ethereum is holding the $188 and $186 support levels. On the upside, an immediate resistance is near the $192 level. Besides, the 50% Fib retracement level of the recent decline from the $195 high to $188 low is near the $192 zone. Therefore, an upside break above the $192 level might push the price towards the $195 resistance. An intermediate resistance is near the 76.4% Fib retracement level of the recent decline from the $195 high to $188 low. On the downside, there are many supports near the $188 and $186 levels. More importantly, this week\u2019s key bullish trend line is intact with support near $188 on the hourly chart of ETH\/USD. It seems like there is a head and shoulders pattern forming with support near the $188 and $186 levels. Thus, if there is a bearish break below the $186 support, the price could start a fresh decline in the near term. The next key support is near the $185 level. Any further losses are likely to push the price back towards the main $178 support area. Looking at the chart, Ethereum price seems to be preparing for the next move, with key supports near $186 and the 100 hourly simple moving average. If the highlighted head and shoulders pattern plays well, the price could decline towards the $180 and $178 support levels in the short term. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now moving in the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently declining and it is well below the 50 level. Major Support Level \u2013 $186 Major Resistance Level \u2013 $192<\/p>\n","protected":false},"author":67,"featured_media":344601,"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-403513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum (ETH) Forming Bearish Pattern, $186 Hold Key<\/title>\n<meta name=\"description\" content=\"Ethereum price is forming a bearish breakdown pattern versus the US Dollar, while bitcoin is trading below $9,400. 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ETH price could decline heavily if it breaks $186.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/\" \/>\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=\"2019-11-07T03:08:42+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:33:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth7-bearish.jpg?fit=1200%2C650\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"650\" \/>\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-forming-bearish-pattern-186-hold-key\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum (ETH) Forming Bearish Pattern, $186 Hold Key\",\"datePublished\":\"2019-11-07T03:08:42+00:00\",\"dateModified\":\"2024-06-11T13:33:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/\"},\"wordCount\":422,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth7-bearish.jpg?fit=1200%2C650\",\"keywords\":[\"ETH\",\"ethereum\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/\",\"name\":\"Ethereum (ETH) Forming Bearish Pattern, $186 Hold Key\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-forming-bearish-pattern-186-hold-key\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth7-bearish.jpg?fit=1200%2C650\",\"datePublished\":\"2019-11-07T03:08:42+00:00\",\"dateModified\":\"2024-06-11T13:33:47+00:00\",\"description\":\"Ethereum price is forming a bearish breakdown pattern versus the US Dollar, while bitcoin is trading below $9,400. 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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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