{"id":405924,"date":"2019-12-02T03:08:02","date_gmt":"2019-12-02T03:08:02","guid":{"rendered":"https:\/\/wncen.com\/?p=405924"},"modified":"2024-06-11T13:06:14","modified_gmt":"2024-06-11T13:06:14","slug":"ethereum-eth-setting-for-breakout-or-further-decline","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-setting-for-breakout-or-further-decline\/","title":{"rendered":"Ethereum (ETH) Setting For Breakout or Further Decline?"},"content":{"rendered":"<ul>\n<li>Ethereum is holding the key $145 support area and recovering against the US Dollar.<\/li>\n<li>The price is currently facing a strong resistance near the $152 area.<\/li>\n<li>Earlier, there was a break above a major bearish trend line with resistance near $150 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The price remains well bid, but it might struggle to climb further above $152 and $155.<\/li>\n<\/ul>\n<p><em>Ethereum price is facing an uphill task versus the US Dollar and <a href=\"https:\/\/wncen.com\/2019\/12\/01\/bitcoin-weekly-forecast-btc-support\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>. ETH price must break the $152 and $155 resistance levels to continue higher.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>Recently, there was a downside correction in Ethereum from the $158 resistance area against the US Dollar. ETH price declined below the $152 support area and the 100 hourly simple moving average.<\/p>\n<p>Moreover, the price broke the $150 support area and traded close to the <a href=\"https:\/\/wncen.com\/2019\/12\/01\/ethereum-price-weekly-forecast-eth-at-potentially-significant-turning-point\/\" target=\"_blank\" rel=\"noopener noreferrer \">$145 support<\/a>. A low was formed near $146 and the price is currently recovering. It climbed above the $148 resistance level.<\/p>\n<p>Besides, there was a break above the 23.6% Fib retracement level of the latest decline from the $158 high to $146 low. More importantly, there was a break above a major bearish trend line with resistance near $150 on the hourly chart of ETH\/USD.<\/p>\n<p>However, the $152 support area and the 100 hourly simple moving average are now acting as hurdles. Additionally, the 50% Fib retracement level of the latest decline from the $158 high to $146 low is acting as a resistance.<\/p>\n<p>Ethereum price is now trading inside a contracting triangle with resistance near the $151 level on the same chart. Therefore, an upside break above the $151 and $152 levels might push the price further higher.<\/p>\n<p>The next key resistance is near the $155 level, above which it could rise towards the main $158 resistance area. Conversely, the price could fail to continue higher and decline below $148.<\/p>\n<p>An immediate support is near the $146 and $145 levels. Any further losses might push the price into a bearish zone towards the $140 and $138 levels. The main support is near the last month low near $132.<\/p>\n<figure id=\"attachment_405925\" aria-describedby=\"caption-attachment-405925\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-1.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-405925\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-1.png?resize=1828%2C868\" alt=\"Ethereum Price \" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-1.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-1.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-1.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-1.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-1.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-1.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-1.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-405925\" 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 is showing a few bearish signs below the $152 and $155 resistance levels. Having said that, the price must clear the $158 hurdle to move into a medium term uptrend. If not, it may perhaps resume its decline below the $145 and $140 levels.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is losing gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently above the 50 level and it could decline again.<\/p>\n<p>Major Support Level \u2013 $146<\/p>\n<p>Major Resistance Level \u2013 $152<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is holding the key $145 support area and recovering against the US Dollar. The price is currently facing a strong resistance near the $152 area. Earlier, there was a break above a major bearish trend line with resistance near $150 on the hourly chart of ETH\/USD (data feed via Kraken). The price remains well bid, but it might struggle to climb further above $152 and $155. Ethereum price is facing an uphill task versus the US Dollar and bitcoin. ETH price must break the $152 and $155 resistance levels to continue higher. Ethereum Price Analysis Recently, there was a downside correction in Ethereum from the $158 resistance area against the US Dollar. ETH price declined below the $152 support area and the 100 hourly simple moving average. Moreover, the price broke the $150 support area and traded close to the $145 support. A low was formed near $146 and the price is currently recovering. It climbed above the $148 resistance level. Besides, there was a break above the 23.6% Fib retracement level of the latest decline from the $158 high to $146 low. More importantly, there was a break above a major bearish trend line with resistance near $150 on the hourly chart of ETH\/USD. However, the $152 support area and the 100 hourly simple moving average are now acting as hurdles. Additionally, the 50% Fib retracement level of the latest decline from the $158 high to $146 low is acting as a resistance. Ethereum price is now trading inside a contracting triangle with resistance near the $151 level on the same chart. Therefore, an upside break above the $151 and $152 levels might push the price further higher. The next key resistance is near the $155 level, above which it could rise towards the main $158 resistance area. Conversely, the price could fail to continue higher and decline below $148. An immediate support is near the $146 and $145 levels. Any further losses might push the price into a bearish zone towards the $140 and $138 levels. The main support is near the last month low near $132. Looking at the chart, Ethereum price is showing a few bearish signs below the $152 and $155 resistance levels. Having said that, the price must clear the $158 hurdle to move into a medium term uptrend. If not, it may perhaps resume its decline below the $145 and $140 levels. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is losing gaining pace in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently above the 50 level and it could decline again. Major Support Level \u2013 $146 Major Resistance Level \u2013 $152<\/p>\n","protected":false},"author":67,"featured_media":344603,"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-405924","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum (ETH) Setting For Breakout or Further Decline?<\/title>\n<meta name=\"description\" content=\"Ethereum price is facing an uphill task versus the US Dollar and bitcoin. 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ETH price must break the $152 and $155 resistance levels to continue higher.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum-eth-setting-for-breakout-or-further-decline\/\" \/>\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=\"2019-12-02T03:08:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:06:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.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-setting-for-breakout-or-further-decline\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-setting-for-breakout-or-further-decline\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum (ETH) Setting For Breakout or Further Decline?\",\"datePublished\":\"2019-12-02T03:08:02+00:00\",\"dateModified\":\"2024-06-11T13:06:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-setting-for-breakout-or-further-decline\/\"},\"wordCount\":422,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-setting-for-breakout-or-further-decline\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.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-setting-for-breakout-or-further-decline\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-setting-for-breakout-or-further-decline\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum-eth-setting-for-breakout-or-further-decline\/\",\"name\":\"Ethereum (ETH) Setting For Breakout or Further Decline?\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-setting-for-breakout-or-further-decline\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-setting-for-breakout-or-further-decline\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/08\/techanalysis-eth5.jpg?fit=1200%2C600\",\"datePublished\":\"2019-12-02T03:08:02+00:00\",\"dateModified\":\"2024-06-11T13:06:14+00:00\",\"description\":\"Ethereum price is facing an uphill task versus the US Dollar and bitcoin. 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