{"id":419298,"date":"2020-03-27T03:08:19","date_gmt":"2020-03-27T03:08:19","guid":{"rendered":"https:\/\/wncen.com\/?p=419298"},"modified":"2024-06-11T13:16:00","modified_gmt":"2024-06-11T13:16:00","slug":"ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/","title":{"rendered":"Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back"},"content":{"rendered":"<p><em>Ethereum is still facing a strong resistance near the $142 and $144 levels against the US Dollar. A successful close above $144 could start a strong increase in ETH price in the near term.<\/em><\/p>\n<ul>\n<li>Ethereum is struggling to gain bullish momentum above the $142 zone against the US Dollar.<\/li>\n<li>The price is currently trading nicely above the $135 support and the 100 hourly simple moving average.<\/li>\n<li>There is a key declining channel forming with resistance near $142 on the hourly chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The bulls are likely to make another attempt to clear the $142 and $144 resistance levels.<\/li>\n<\/ul>\n<h2>Ethereum Price Trading in a Positive Zone<\/h2>\n<p>Yesterday, we discussed the importance of the <a href=\"https:\/\/wncen.com\/2020\/03\/26\/ethereum-is-showing-early-signs-of-fresh-decline\/\" target=\"_blank\" rel=\"noopener noreferrer \">$142 and $144 resistance levels<\/a> for Ethereum against the US Dollar. Recently, ETH price made another attempt to clear the $142 hurdle, but it failed.<\/p>\n<p>A swing high is formed near $142 and the price is currently correcting gains. It traded below the 23.6% Fib retracement level of the recent rise from the $133 low to $142 high.<\/p>\n<p>It seems like there is a key declining channel forming with resistance near $142 on the hourly <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener noreferrer nofollow\">chart<\/a> of ETH\/USD. An initial support on the downside is near the $138 level. The first major support is seen near the $136 level. It is close to the 50% Fib retracement level of the recent rise from the $133 low to $142 high.<\/p>\n<figure id=\"attachment_419299\" aria-describedby=\"caption-attachment-419299\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-419299\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?resize=1828%2C868\" alt=\"Ethereum Price\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?w=130 130w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?w=104 104w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?w=83 83w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/Ethereum-26.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-419299\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>The main support is now forming near the $135 level and the 100 hourly simple moving average. Any further losses may perhaps put a lot of pressure on Ethereum bulls and the price could decline below $132. The next major support is near the $125 level.<\/p>\n<h2>Upside Break?<\/h2>\n<p>On the upside, the first major hurdle for Ethereum is near the $142 level. The main hurdle is now near the $144 level. A successful break above the channel resistance, $142, and $144 is needed to start a strong increase in the near term.<\/p>\n<p>In the stated scenario, the <a href=\"https:\/\/wncen.com\/2020\/03\/25\/ethereum-gearing-lift-off-to-150\/\" target=\"_blank\" rel=\"noopener noreferrer \">price is likely to accelerate higher<\/a> towards the $150 and $155 resistance levels. Any further gains could lead the price 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 now gaining momentum in the bullish zone.<\/p>\n<p>Hourly RSI<strong> &#8211; <\/strong>The RSI for ETH\/USD is currently well above the 50 level, with a positive bias.<\/p>\n<p>Major Support Level \u2013 $135<\/p>\n<p>Major Resistance Level \u2013 $144<\/p>\n<p><a href=\"https:\/\/www.plus500.com\/?id=121277&amp;pl=2\" rel=\"nofollow\">Take advantage of the trading opportunities with Plus500<\/a><\/p>\n<p>Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum is still facing a strong resistance near the $142 and $144 levels against the US Dollar. A successful close above $144 could start a strong increase in ETH price in the near term. Ethereum is struggling to gain bullish momentum above the $142 zone against the US Dollar. The price is currently trading nicely above the $135 support and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $142 on the hourly chart of ETH\/USD (data feed via Kraken). The bulls are likely to make another attempt to clear the $142 and $144 resistance levels. Ethereum Price Trading in a Positive Zone Yesterday, we discussed the importance of the $142 and $144 resistance levels for Ethereum against the US Dollar. Recently, ETH price made another attempt to clear the $142 hurdle, but it failed. A swing high is formed near $142 and the price is currently correcting gains. It traded below the 23.6% Fib retracement level of the recent rise from the $133 low to $142 high. It seems like there is a key declining channel forming with resistance near $142 on the hourly chart of ETH\/USD. An initial support on the downside is near the $138 level. The first major support is seen near the $136 level. It is close to the 50% Fib retracement level of the recent rise from the $133 low to $142 high. The main support is now forming near the $135 level and the 100 hourly simple moving average. Any further losses may perhaps put a lot of pressure on Ethereum bulls and the price could decline below $132. The next major support is near the $125 level. Upside Break? On the upside, the first major hurdle for Ethereum is near the $142 level. The main hurdle is now near the $144 level. A successful break above the channel resistance, $142, and $144 is needed to start a strong increase in the near term. In the stated scenario, the price is likely to accelerate higher towards the $150 and $155 resistance levels. Any further gains could lead the price towards the $165 level in the coming days. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is now gaining momentum in the bullish zone. Hourly RSI &#8211; The RSI for ETH\/USD is currently well above the 50 level, with a positive bias. Major Support Level \u2013 $135 Major Resistance Level \u2013 $144 Take advantage of the trading opportunities with Plus500 Risk disclaimer: 76.4% of retail CFD accounts lose money.<\/p>\n","protected":false},"author":67,"featured_media":419300,"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":[8323,1946,8686],"class_list":["post-419298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-ethereum","category-analysis","tag-eth","tag-ethereum","tag-ethusd"],"acf":[],"yoast_head":"\n<title>Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back<\/title>\n<meta name=\"description\" content=\"Ethereum is still facing a strong resistance near the $142 and $144 levels. 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A successful close above $144 could start a strong increase in ETH price in the near term.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/\" \/>\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=\"2020-03-27T03:08:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T13:16:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/shutterstock_350833328-scaled.jpg?fit=2560%2C1809\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1809\" \/>\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-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/\"},\"author\":{\"name\":\"Aayush Jindal\",\"@id\":\"https:\/\/wncen.com\/#\/schema\/person\/1f8631be4d0868de3fd2f21f17d9ae70\"},\"headline\":\"Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back\",\"datePublished\":\"2020-03-27T03:08:19+00:00\",\"dateModified\":\"2024-06-11T13:16:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/\"},\"wordCount\":409,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/wncen.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/shutterstock_350833328-scaled.jpg?fit=2560%2C1809\",\"keywords\":[\"ETH\",\"ethereum\",\"ethusd\"],\"articleSection\":[\"Cryptocurrency Market News\",\"Ethereum\",\"Technical analysis\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/wncen.com\/news\/ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/#respond\"]}],\"copyrightYear\":\"2020\",\"copyrightHolder\":{\"@id\":\"https:\/\/wncen.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/wncen.com\/news\/ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/\",\"url\":\"https:\/\/wncen.com\/news\/ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/\",\"name\":\"Ethereum is Primed For a Rally And Only 1 Thing is Holding it Back\",\"isPartOf\":{\"@id\":\"https:\/\/wncen.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/wncen.com\/news\/ethereum-is-primed-for-a-rally-and-only-1-thing-is-holding-it-back\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/03\/shutterstock_350833328-scaled.jpg?fit=2560%2C1809\",\"datePublished\":\"2020-03-27T03:08:19+00:00\",\"dateModified\":\"2024-06-11T13:16:00+00:00\",\"description\":\"Ethereum is still facing a strong resistance near the $142 and $144 levels. 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