{"id":419990,"date":"2020-04-05T04:48:27","date_gmt":"2020-04-05T04:48:27","guid":{"rendered":"https:\/\/wncen.com\/?p=419990"},"modified":"2024-06-11T13:47:10","modified_gmt":"2024-06-11T13:47:10","slug":"ethereum-below-crucial-support-could-spark-decline","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum-below-crucial-support-could-spark-decline\/","title":{"rendered":"Ethereum Breaking This Crucial Support Could Spark a Sharp Decline"},"content":{"rendered":"<p><em>Ethereum is struggling to gain bullish momentum above the $145 resistance against the US Dollar, similar to <a href=\"https:\/\/wncen.com\/category\/crypto\/bitcoin\/\" target=\"_blank\" rel=\"noopener \">bitcoin<\/a>. ETH price must stay above the $140 support area to remain in an uptrend.<\/em><\/p>\n<ul>\n<li>ETH price is currently facing a strong resistance near $145 and $150 against the US Dollar.<\/li>\n<li>There is a crucial support forming near the $140 level and the 100 simple moving average (4-hours).<\/li>\n<li>There is a major contracting triangle forming with resistance near $145 on the 4-hours chart of ETH\/USD (data feed via Kraken).<\/li>\n<li>The pair could either rally sharply above $145 or it might start a solid decline below $140.<\/li>\n<\/ul>\n<h2>Ethereum Price Trading Near Key Juncture<\/h2>\n<p>This past week, Ethereum <a href=\"https:\/\/wncen.com\/2020\/04\/03\/ethereum-gearing-lift-off-to-155\/\" target=\"_blank\" rel=\"noopener \">climbed higher nicely<\/a> above the $130 and $135 resistance levels against the US Dollar. ETH price even spiked above the $145 resistance and settled above the 100 simple moving average (4-hours).<\/p>\n<p>It tested the $150 resistance area, where the bears emerged. Recently, there was a downside correction below the $145 level. The price traded below the 23.6% Fib retracement level of the upward move from the $129 swing low to $150 swing high.<\/p>\n<p>However, Ethereum remained well bid above the $140 support area (the previous resistance area). The 50% Fib retracement level of the upward move from the $129 swing low to $150 swing high is also acting as a strong support.<\/p>\n<p>The 100 simple moving average (4-hours) is also near the $140 support area to protect a downside break. More importantly, there is a major contracting triangle forming with resistance near $145 on the 4-hours <a href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\" target=\"_blank\" rel=\"noopener nofollow\">chart<\/a> of ETH\/USD.<\/p>\n<figure id=\"attachment_419991\" aria-describedby=\"caption-attachment-419991\" style=\"width: 1828px\" class=\"wp-caption alignnone\"><a href=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-419991\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?resize=1828%2C868\" alt=\"Ethereum Price\" width=\"1828\" height=\"868\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?w=1828 1828w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?w=460 460w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?w=768 768w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?w=860 860w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?w=130 130w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?w=104 104w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?w=83 83w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?w=1536 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?w=750 750w, https:\/\/wncen.com\/wp-content\/uploads\/2020\/04\/Ethereum-3.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><\/a><figcaption id=\"caption-attachment-419991\" class=\"wp-caption-text\">Ethereum Price<\/figcaption><\/figure>\n<p>If there is a downside break below the $140 support area and the 100 SMA, the bears are likely to take control. The next key support is near the $133 level, below which the bears are likely to aim a test of the $124 support.<\/p>\n<h2>Fresh Bullish Wave?<\/h2>\n<p>If Ethereum price remains stable above the $140 support and the 100 simple moving average (4-hours), it could rise further. The first key resistance is near the $145 level, followed by $150.<\/p>\n<p>A successful close above the $150 resistance is likely to spark a strong rally towards the $160 and $164 levels in the near term.<\/p>\n<p>Technical Indicators<\/p>\n<p>4 hours MACD \u2013 The MACD for ETH\/USD is slowly losing momentum in the bullish zone.<\/p>\n<p>4 hours RSI &#8211; The RSI for ETH\/USD is currently correcting lower from the 65 level.<\/p>\n<p>Major Support Level \u2013 $140<\/p>\n<p>Major Resistance Level \u2013 $150<\/p>\n<p><a href=\"https:\/\/www.plus500.com\/?id=121277&amp;pl=2\" target=\"_blank\" rel=\"noopener 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 struggling to gain bullish momentum above the $145 resistance against the US Dollar, similar to bitcoin. ETH price must stay above the $140 support area to remain in an uptrend. ETH price is currently facing a strong resistance near $145 and $150 against the US Dollar. There is a crucial support forming near the $140 level and the 100 simple moving average (4-hours). There is a major contracting triangle forming with resistance near $145 on the 4-hours chart of ETH\/USD (data feed via Kraken). The pair could either rally sharply above $145 or it might start a solid decline below $140. Ethereum Price Trading Near Key Juncture This past week, Ethereum climbed higher nicely above the $130 and $135 resistance levels against the US Dollar. ETH price even spiked above the $145 resistance and settled above the 100 simple moving average (4-hours). It tested the $150 resistance area, where the bears emerged. Recently, there was a downside correction below the $145 level. The price traded below the 23.6% Fib retracement level of the upward move from the $129 swing low to $150 swing high. However, Ethereum remained well bid above the $140 support area (the previous resistance area). The 50% Fib retracement level of the upward move from the $129 swing low to $150 swing high is also acting as a strong support. The 100 simple moving average (4-hours) is also near the $140 support area to protect a downside break. More importantly, there is a major contracting triangle forming with resistance near $145 on the 4-hours chart of ETH\/USD. If there is a downside break below the $140 support area and the 100 SMA, the bears are likely to take control. The next key support is near the $133 level, below which the bears are likely to aim a test of the $124 support. Fresh Bullish Wave? If Ethereum price remains stable above the $140 support and the 100 simple moving average (4-hours), it could rise further. The first key resistance is near the $145 level, followed by $150. A successful close above the $150 resistance is likely to spark a strong rally towards the $160 and $164 levels in the near term. Technical Indicators 4 hours MACD \u2013 The MACD for ETH\/USD is slowly losing momentum in the bullish zone. 4 hours RSI &#8211; The RSI for ETH\/USD is currently correcting lower from the 65 level. Major Support Level \u2013 $140 Major Resistance Level \u2013 $150 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":415202,"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-419990","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 Breaking This Crucial Support Could Spark a Sharp Decline<\/title>\n<meta name=\"description\" content=\"Ethereum is struggling to gain bullish momentum above the $145 resistance, similar to bitcoin. 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