{"id":407380,"date":"2019-12-16T03:38:06","date_gmt":"2019-12-16T03:38:06","guid":{"rendered":"https:\/\/wncen.com\/?p=407380"},"modified":"2024-06-11T13:35:16","modified_gmt":"2024-06-11T13:35:16","slug":"ethereum-eth-recovery-wont-be-easy-downtrend-persists","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-eth-recovery-wont-be-easy-downtrend-persists\/","title":{"rendered":"Ethereum (ETH) Recovery Won\u2019t Be Easy, Downtrend Persists"},"content":{"rendered":"<ul>\n<li>Ethereum is struggling to recover above the $144 and $146 resistance levels against the US Dollar.<\/li>\n<li>The price is facing an uphill task and it could continue to move down below $140.<\/li>\n<li>There is a key bearish trend line forming with resistance near $143 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The price remains at a risk of another bearish wave below the key $140 support area.<\/li>\n<\/ul>\n<p><em>Ethereum price is under a lot of pressure versus the US Dollar, similar to <a href=\"https:\/\/wncen.com\/2019\/12\/15\/bitcoin-weekly-forecast-btc-trend-overwhelmingly-bearish\/\" target=\"_blank\" rel=\"noopener noreferrer \">bitcoin<\/a> below $7,000. ETH price could decline below the $140 support and continue lower.<\/em><\/p>\n<h2>Ethereum Price Analysis<\/h2>\n<p>Recently, Ethereum retested the $140 support area against the US Dollar. However, ETH bears failed to gain momentum below $140 and a swing low was formed near $140.<\/p>\n<p>The price started an upside correction above the $142 resistance area, but upsides remained capped. Moreover, the price struggled to clear the $144 resistance and the 100 hourly simple moving average.<\/p>\n<p>A high was formed near $144 and the price started a <a href=\"https:\/\/wncen.com\/2019\/12\/15\/ethereum-price-weekly-forecast-eth-primed-for-more-downsides\/\" target=\"_blank\" rel=\"noopener noreferrer \">fresh decline<\/a>. It is trading below the $142 level. Besides, Ethereum price is sliding below the 50% Fib retracement level of the upward move from the $140 low to $144 high.<\/p>\n<p>An immediate support is seen near the $141 level. Additionally, the 61.8% Fib retracement level of the upward move from the $140 low to $144 high is also near the $141 level.<\/p>\n<p>The main support is still near the $139-$140 zone. If there is a downside break below the $140 support, with a proper close, then there is a risk of another bearish wave in the coming sessions.<\/p>\n<p>On the upside, there are many hurdles, starting with the $142 level and the 100 hourly SMA. More importantly, there is a key bearish trend line forming with resistance near $143 on the hourly chart of ETH\/USD.<\/p>\n<p>Therefore, an upside break above the $142 and $144 resistance levels is must for a decent recovery. The next immediate resistance is near $146, above which the price could continue to recover towards the $152 resistance area.<\/p>\n<figure id=\"attachment_407381\" aria-describedby=\"caption-attachment-407381\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-13.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-407381\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-13.png?resize=1828%2C868\" alt=\"Ethereum Price \" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-13.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-13.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-13.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-13.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-13.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-13.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2019\/12\/Ethereum-13.png?w=1140 1140w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-407381\" 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 under pressure and it seems like the bears are in control below the $142 and $144. If ETH fails to stay above the $140 support, there is a risk of a sharp decline towards the $135 and $132 support levels.<\/p>\n<h2>ETH Technical Indicators<\/h2>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is slowly moving back into the bearish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently declining and it is moving lower towards the 40 level.<\/p>\n<p>Major Support Level \u2013 $140<\/p>\n<p>Major Resistance Level \u2013 $144<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is struggling to recover above the $144 and $146 resistance levels against the US Dollar. The price is facing an uphill task and it could continue to move down below $140. There is a key bearish trend line forming with resistance near $143 on the hourly chart of ETH\/USD (data feed via Kraken). The price remains at a risk of another bearish wave below the key $140 support area. Ethereum price is under a lot of pressure versus the US Dollar, similar to bitcoin below $7,000. ETH price could decline below the $140 support and continue lower. Ethereum Price Analysis Recently, Ethereum retested the $140 support area against the US Dollar. However, ETH bears failed to gain momentum below $140 and a swing low was formed near $140. The price started an upside correction above the $142 resistance area, but upsides remained capped. Moreover, the price struggled to clear the $144 resistance and the 100 hourly simple moving average. A high was formed near $144 and the price started a fresh decline. It is trading below the $142 level. Besides, Ethereum price is sliding below the 50% Fib retracement level of the upward move from the $140 low to $144 high. An immediate support is seen near the $141 level. Additionally, the 61.8% Fib retracement level of the upward move from the $140 low to $144 high is also near the $141 level. The main support is still near the $139-$140 zone. If there is a downside break below the $140 support, with a proper close, then there is a risk of another bearish wave in the coming sessions. On the upside, there are many hurdles, starting with the $142 level and the 100 hourly SMA. More importantly, there is a key bearish trend line forming with resistance near $143 on the hourly chart of ETH\/USD. Therefore, an upside break above the $142 and $144 resistance levels is must for a decent recovery. The next immediate resistance is near $146, above which the price could continue to recover towards the $152 resistance area. Looking at the chart, Ethereum price is under pressure and it seems like the bears are in control below the $142 and $144. If ETH fails to stay above the $140 support, there is a risk of a sharp decline towards the $135 and $132 support levels. ETH Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is slowly moving back into the bearish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently declining and it is moving lower towards the 40 level. Major Support Level \u2013 $140 Major Resistance Level \u2013 $144<\/p>\n","protected":false},"author":67,"featured_media":168670,"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-407380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum (ETH) Recovery Won\u2019t Be Easy, Downtrend Persists<\/title>\n<meta name=\"description\" content=\"Ethereum price is under a lot of pressure versus the US Dollar, similar to bitcoin below $7,000. 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ETH price could decline below the $140 support and continue lower.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum-eth-recovery-wont-be-easy-downtrend-persists\/\" \/>\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=\"2019-12-16T03:38:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:35:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/02\/Ethereum_Price_ETH_USD_Analysis3.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-eth-recovery-wont-be-easy-downtrend-persists\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-recovery-wont-be-easy-downtrend-persists\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum (ETH) Recovery Won\u2019t Be Easy, Downtrend Persists\",\"datePublished\":\"2019-12-16T03:38:06+00:00\",\"dateModified\":\"2024-06-11T13:35:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-recovery-wont-be-easy-downtrend-persists\/\"},\"wordCount\":418,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-recovery-wont-be-easy-downtrend-persists\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/02\/Ethereum_Price_ETH_USD_Analysis3.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-eth-recovery-wont-be-easy-downtrend-persists\/#respond\"]}],\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-recovery-wont-be-easy-downtrend-persists\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum-eth-recovery-wont-be-easy-downtrend-persists\/\",\"name\":\"Ethereum (ETH) Recovery Won\u2019t Be Easy, Downtrend Persists\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-recovery-wont-be-easy-downtrend-persists\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-eth-recovery-wont-be-easy-downtrend-persists\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2018\/02\/Ethereum_Price_ETH_USD_Analysis3.jpg?fit=1200%2C741\",\"datePublished\":\"2019-12-16T03:38:06+00:00\",\"dateModified\":\"2024-06-11T13:35:16+00:00\",\"description\":\"Ethereum price is under a lot of pressure versus the US Dollar, similar to bitcoin below $7,000. 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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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