{"id":406524,"date":"2019-12-08T06:00:34","date_gmt":"2019-12-08T06:00:34","guid":{"rendered":"https:\/\/wncen.com\/?p=406524"},"modified":"2024-06-11T13:09:29","modified_gmt":"2024-06-11T13:09:29","slug":"ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158\/","title":{"rendered":"Ethereum Price Weekly Forecast: ETH Reversal Could Unfold Above $158"},"content":{"rendered":"<ul>\n<li>ETH price is struggling to gain pace above the $152 and $158 resistance levels against the US Dollar.<\/li>\n<li>The price is currently holding the main $144 support area and breakdown zone.<\/li>\n<li>There is a key contracting triangle forming with resistance near $150 on the 4-hours chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could start a strong upward move once it surpasses $152 and $158.<\/li>\n<\/ul>\n<p><em>Ethereum price is trading above a few important supports against the US Dollar, similar to <a href=\"https:\/\/wncen.com\/2019\/12\/08\/bitcoin-weekly-forecast-btc-bounce\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a>. ETH price needs to settle above $158 for an uptrend reversal.<\/em><\/p>\n<h2>Ethereum Price Weekly Analysis<\/h2>\n<p>At the end of the last month, Ethereum tested the $158 resistance area against the US Dollar, where it faced a lot of hurdles. A high was formed near $158 and the price started a downside correction.<\/p>\n<p>It broke the $152 support and remained well below the 100 simple moving average (4-hours). Moreover, there was a break below the 23.6% Fib retracement level of the upward move from the $132 swing low to $158 high.<\/p>\n<p>However, the $144 and $145 levels are acting as <a href=\"https:\/\/wncen.com\/2019\/12\/06\/ethereum-eth-flirts-with-key-resistance-bitcoin-up-3\/\" target=\"_blank\" rel=\"noopener noreferrer \">strong buy zones<\/a>. Besides, the 50% Fib retracement level of the upward move from the $132 swing low to $158 high is acting as a support.<\/p>\n<p>At the outset, there is a key contracting triangle forming with resistance near $150 on the 4-hours chart of ETH\/USD. The triangle support is near the $144 area.<\/p>\n<p>Therefore, a successful break below the $144 support might start another bearish wave below the $140 level. The next major support is near the $132 swing low. Any further losses could lead Ethereum price towards the $125 zone.<\/p>\n<p>On the upside, there are many resistances, starting with the triangle resistance near $150. If there is an upside break above $150 and $152, the price could revisit the $158 resistance area.<\/p>\n<p>To start a fresh increase and uptrend, the price must settle above the $158 resistance and the 100 simple moving average (4-hours). In the mentioned bullish case, the price is likely to rally above the $160 and $165 levels. The next major resistance is near the $172 level.<\/p>\n<figure id=\"attachment_406525\" aria-describedby=\"caption-attachment-406525\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-6.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-406525\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-6.png?resize=1828%2C868\" alt=\"Ethereum Price \" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-6.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-6.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-6.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-6.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-6.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-6.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-6.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-406525\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>The above <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a> indicates that Ethereum price is trading above an important support near $144. As long as there is no bearish break below the $144 support, there are high chances of a strong rally above the $152 and $158 resistance levels.<\/p>\n<h2>Technical Indicators<\/h2>\n<p>4 hours MACD \u2013 The MACD for ETH\/USD is currently losing strength in the bullish zone.<\/p>\n<p>4 hours RSI &#8211; The RSI for ETH\/USD is currently declining and it is below the 50 level.<\/p>\n<p>Major Support Level \u2013 $144<\/p>\n<p>Major Resistance Level \u2013 $158<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ETH price is struggling to gain pace above the $152 and $158 resistance levels against the US Dollar. The price is currently holding the main $144 support area and breakdown zone. There is a key contracting triangle forming with resistance near $150 on the 4-hours chart of ETH\/USD (data feed via Kraken). The pair could start a strong upward move once it surpasses $152 and $158. Ethereum price is trading above a few important supports against the US Dollar, similar to bitcoin. ETH price needs to settle above $158 for an uptrend reversal. Ethereum Price Weekly Analysis At the end of the last month, Ethereum tested the $158 resistance area against the US Dollar, where it faced a lot of hurdles. A high was formed near $158 and the price started a downside correction. It broke the $152 support and remained well below the 100 simple moving average (4-hours). Moreover, there was a break below the 23.6% Fib retracement level of the upward move from the $132 swing low to $158 high. However, the $144 and $145 levels are acting as strong buy zones. Besides, the 50% Fib retracement level of the upward move from the $132 swing low to $158 high is acting as a support. At the outset, there is a key contracting triangle forming with resistance near $150 on the 4-hours chart of ETH\/USD. The triangle support is near the $144 area. Therefore, a successful break below the $144 support might start another bearish wave below the $140 level. The next major support is near the $132 swing low. Any further losses could lead Ethereum price towards the $125 zone. On the upside, there are many resistances, starting with the triangle resistance near $150. If there is an upside break above $150 and $152, the price could revisit the $158 resistance area. To start a fresh increase and uptrend, the price must settle above the $158 resistance and the 100 simple moving average (4-hours). In the mentioned bullish case, the price is likely to rally above the $160 and $165 levels. The next major resistance is near the $172 level. The above chart indicates that Ethereum price is trading above an important support near $144. As long as there is no bearish break below the $144 support, there are high chances of a strong rally above the $152 and $158 resistance levels. Technical Indicators 4 hours MACD \u2013 The MACD for ETH\/USD is currently losing strength in the bullish zone. 4 hours RSI &#8211; The RSI for ETH\/USD is currently declining and it is below the 50 level. Major Support Level \u2013 $144 Major Resistance Level \u2013 $158<\/p>\n","protected":false},"author":67,"featured_media":170287,"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-406524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Price Weekly Forecast: ETH Reversal Could Unfold Above $158<\/title>\n<meta name=\"description\" content=\"Ethereum price is trading above a few important supports against the US Dollar, similar to bitcoin. 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ETH price needs to settle above $158 for an uptrend reversal.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158\/\" \/>\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=\"2019-12-08T06:00:34+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:09:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/02\/Ethereum_Price_ETH_USD_Analysis11.jpg?fit=1200%2C741\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"741\" \/>\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-price-weekly-forecast-eth-reversal-could-unfold-above-158\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum Price Weekly Forecast: ETH Reversal Could Unfold Above $158\",\"datePublished\":\"2019-12-08T06:00:34+00:00\",\"dateModified\":\"2024-06-11T13:09:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158\/\"},\"wordCount\":417,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/02\/Ethereum_Price_ETH_USD_Analysis11.jpg?fit=1200%2C741\",\"keywords\":[\"ETH\",\"ethereum\"],\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158\/\",\"name\":\"Ethereum Price Weekly Forecast: ETH Reversal Could Unfold Above $158\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-price-weekly-forecast-eth-reversal-could-unfold-above-158\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/02\/Ethereum_Price_ETH_USD_Analysis11.jpg?fit=1200%2C741\",\"datePublished\":\"2019-12-08T06:00:34+00:00\",\"dateModified\":\"2024-06-11T13:09:29+00:00\",\"description\":\"Ethereum price is trading above a few important supports against the US Dollar, similar to bitcoin. 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