{"id":454264,"date":"2021-01-12T05:28:28","date_gmt":"2021-01-12T05:28:28","guid":{"rendered":"https:\/\/wncen.com\/?p=454264"},"modified":"2024-06-11T14:12:40","modified_gmt":"2024-06-11T14:12:40","slug":"ethereum-eth-could-face-resistance-near-1130","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-eth-could-face-resistance-near-1130\/","title":{"rendered":"TA: Ethereum Reverses Losses: Why ETH Could Face Resistance Near $1,130"},"content":{"rendered":"
Ethereum declined almost 30% and tested the $900 support zone against the US Dollar. ETH price is currently rising, but it is facing a strong resistance near $1,130.<\/em><\/p>\n Yesterday, we saw a massive decline in bitcoin<\/a>, ethereum, ripple<\/a> and other altcoins. ETH price declined almost 30% and it broke many important supports near $1,120 and $1,050.<\/p>\n There was also a break below the $1,000 support level and the price traded close to the $900 level. A swing low was formed near $912 before the price started a fresh increase. It seems like the bulls defended the last swing region near the $900$-920 zone.<\/p>\n Ether price is up over 10% and it is trading nicely above $1,000. There was a break above the 23.6% Fib retracement level of the downside correction from the $1,352 swing high to $912 swing low.<\/p>\n <\/a><\/p>\n However, the price is facing hurdles near $1,130 and the 100 hourly simple moving average. There is also a major bearish trend line in place with resistance near $1,130 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the downside correction from the $1,352 swing high to $912 swing low.<\/p>\n To start a fresh rally, ether price must clear the trend line resistance, $1,130, and the 100 hourly simple moving average. The next major resistance above $1,130 is near the $1,200 level.<\/p>\n If ethereum fails to clear the $1,130 resistance and the 100 hourly simple moving average, it could start a fresh decline. An initial support on the downside is near the $1,050 level.<\/p>\n The first key support is near the $1,000 level. A downside break below the $1,000 level may possibly start a fresh decline towards the $900-$920 support zone in the coming sessions.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is gaining pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is back above the 50 level, with a bullish angle.<\/p>\n Major Support Level \u2013 $1,000<\/p>\n Major Resistance Level \u2013 $1,130<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum declined almost 30% and tested the $900 support zone against the US Dollar. ETH price is currently rising, but it is facing a strong resistance near $1,130. Ethereum started a strong decline from well above $1,200 and traded close to $900. The price is recovering nicely from $912, but it facing hurdles near $1,130 and the 100 hourly simple moving average. There is a major bearish trend line in place with resistance near $1,130 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must settle above $1,130 and the 100 hourly SMA to start a fresh rally. Ethereum Price Recovers Losses Yesterday, we saw a massive decline in bitcoin, ethereum, ripple and other altcoins. ETH price declined almost 30% and it broke many important supports near $1,120 and $1,050. There was also a break below the $1,000 support level and the price traded close to the $900 level. A swing low was formed near $912 before the price started a fresh increase. It seems like the bulls defended the last swing region near the $900$-920 zone. Ether price is up over 10% and it is trading nicely above $1,000. There was a break above the 23.6% Fib retracement level of the downside correction from the $1,352 swing high to $912 swing low. Source: ETHUSD on TradingView.com However, the price is facing hurdles near $1,130 and the 100 hourly simple moving average. There is also a major bearish trend line in place with resistance near $1,130 on the hourly chart of ETH\/USD. The trend line is close to the 50% Fib retracement level of the downside correction from the $1,352 swing high to $912 swing low. To start a fresh rally, ether price must clear the trend line resistance, $1,130, and the 100 hourly simple moving average. The next major resistance above $1,130 is near the $1,200 level. Fresh Dips in ETH? If ethereum fails to clear the $1,130 resistance and the 100 hourly simple moving average, it could start a fresh decline. An initial support on the downside is near the $1,050 level. The first key support is near the $1,000 level. A downside break below the $1,000 level may possibly start a fresh decline towards the $900-$920 support zone in the coming sessions. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is gaining pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is back above the 50 level, with a bullish angle. Major Support Level \u2013 $1,000 Major Resistance Level \u2013 $1,130<\/p>\n","protected":false},"author":67,"featured_media":454267,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[1946,8686,78803],"class_list":["post-454264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-ethereum","tag-ethusd","tag-ethusdt"],"acf":[],"yoast_head":"\n\n
Ethereum Price Recovers Losses<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Dips in ETH?<\/h2>\n