{"id":417692,"date":"2020-03-11T03:08:30","date_gmt":"2020-03-11T03:08:30","guid":{"rendered":"https:\/\/wncen.com\/?p=417692"},"modified":"2024-06-11T13:43:11","modified_gmt":"2024-06-11T13:43:11","slug":"ethereum-recovery-wont-be-easy-above-212","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-recovery-wont-be-easy-above-212\/","title":{"rendered":"Ethereum Recovery Won\u2019t Be Easy Above $212 As Bulls Fail To Fight Back"},"content":{"rendered":"<p><em>Ethereum is currently consolidating losses above the $190 zone against the US Dollar. ETH price is facing many hurdles on the upside such as $208, $212, and the 100 hourly SMA.<\/em><\/p>\n<ul>\n<li>Ethereum is not showing any major bullish signs above the $200 level against the US Dollar.<\/li>\n<li>The price is likely to struggle near the key $208 and $212 resistance levels.<\/li>\n<li>There is a short term contracting triangle forming with resistance near $205 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li><a href=\"https:\/\/wncen.com\/category\/crypto\/bitcoin\/\" target=\"_blank\" rel=\"noopener noreferrer \">Bitcoin<\/a> price attempted a recovery above $8,000, but it failed to gain momentum.<\/li>\n<\/ul>\n<h2>Ethereum Price Consolidating Losses<\/h2>\n<p>After trading as low as $188, Ethereum started a <a href=\"https:\/\/wncen.com\/2020\/03\/10\/ethereum-recovery-could-be-short-lived\/\" target=\"_blank\" rel=\"noopener noreferrer \">minor upside correction<\/a> against the US Dollar. ETH price traded above the $190 and $195 levels, but it remained well below the 100 hourly simple moving average.<\/p>\n<p>It seems like the price is consolidating losses above the $190 and $195 levels. On the upside, an initial resistance is seen near the $205 level. The 23.6% Fib retracement level of the key drop from the $252 high to $188 low is also near the $205 zone.<\/p>\n<p>More importantly, there is a short term contracting triangle forming with resistance near $205 on the hourly <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a> of ETH\/USD. The first key resistance on the upside is near the $208 level (the recent breakdown zone).<\/p>\n<figure id=\"attachment_417693\" aria-describedby=\"caption-attachment-417693\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-11.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-417693\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-11.png?resize=1828%2C868\" alt=\"Ethereum Price\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-11.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-11.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-11.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-11.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-11.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-11.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-11.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-417693\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>The next hurdle is near the $212 level since it coincides with the 100 hourly simple moving average. If Ethereum price manages to climb above the $208 and $212 resistance levels, it might start a decent recovery.<\/p>\n<p>A successful break above the $212 resistance zone could lead the price towards the $220 resistance level in the near term. The 50% Fib retracement level of the key drop from the $252 high to $188 low is also near the $220 zone. Any further gains may perhaps push the price towards the $228 level.<\/p>\n<h2>Fresh Decline?<\/h2>\n<p>If Ethereum continues to face hurdles near the $205, $208 and $212 resistance levels, it is likely to resume its decline. A downside break below the triangle support and $195 might spark a fresh decline.<\/p>\n<p>An initial support is near the $190 and $188 levels. The main support is still near $185, below which there is a risk of a sharp decline towards the $165 level in the coming days.<\/p>\n<p>Technical Indicators<\/p>\n<p>Hourly MACD<strong> \u2013 <\/strong>The MACD for ETH\/USD is showing no major bullish signal.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently just below the 50 level, with a bearish angle.<\/p>\n<p>Major Support Level \u2013 $195<\/p>\n<p>Major Resistance Level \u2013 $212<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is currently consolidating losses above the $190 zone against the US Dollar. ETH price is facing many hurdles on the upside such as $208, $212, and the 100 hourly SMA. Ethereum is not showing any major bullish signs above the $200 level against the US Dollar. The price is likely to struggle near the key $208 and $212 resistance levels. There is a short term contracting triangle forming with resistance near $205 on the hourly chart of ETH\/USD (data feed via Kraken). Bitcoin price attempted a recovery above $8,000, but it failed to gain momentum. Ethereum Price Consolidating Losses After trading as low as $188, Ethereum started a minor upside correction against the US Dollar. ETH price traded above the $190 and $195 levels, but it remained well below the 100 hourly simple moving average. It seems like the price is consolidating losses above the $190 and $195 levels. On the upside, an initial resistance is seen near the $205 level. The 23.6% Fib retracement level of the key drop from the $252 high to $188 low is also near the $205 zone. More importantly, there is a short term contracting triangle forming with resistance near $205 on the hourly chart of ETH\/USD. The first key resistance on the upside is near the $208 level (the recent breakdown zone). The next hurdle is near the $212 level since it coincides with the 100 hourly simple moving average. If Ethereum price manages to climb above the $208 and $212 resistance levels, it might start a decent recovery. A successful break above the $212 resistance zone could lead the price towards the $220 resistance level in the near term. The 50% Fib retracement level of the key drop from the $252 high to $188 low is also near the $220 zone. Any further gains may perhaps push the price towards the $228 level. Fresh Decline? If Ethereum continues to face hurdles near the $205, $208 and $212 resistance levels, it is likely to resume its decline. A downside break below the triangle support and $195 might spark a fresh decline. An initial support is near the $190 and $188 levels. The main support is still near $185, below which there is a risk of a sharp decline towards the $165 level in the coming days. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is showing no major bullish signal. Hourly RSI &#8211; The RSI for ETH\/USD is currently just below the 50 level, with a bearish angle. Major Support Level \u2013 $195 Major Resistance Level \u2013 $212<\/p>\n","protected":false},"author":67,"featured_media":417694,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3,13625,4],"tags":[8323,1946],"class_list":["post-417692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","category-analysis","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Recovery Won\u2019t Be Easy Above $212 As Bulls Fail To Fight Back<\/title>\n<meta name=\"description\" content=\"Ethereum is currently consolidating losses above the $190 zone. 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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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