{"id":454374,"date":"2021-01-13T05:28:08","date_gmt":"2021-01-13T05:28:08","guid":{"rendered":"https:\/\/wncen.com\/?p=454374"},"modified":"2024-06-11T14:12:42","modified_gmt":"2024-06-11T14:12:42","slug":"ethereum-facing-major-hurdles-1150","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-facing-major-hurdles-1150\/","title":{"rendered":"TA: Ethereum Facing Major Hurdles: Why 100 SMA Could Trigger Fresh Rally"},"content":{"rendered":"
Ethereum struggled to clear $1,150 and started a fresh decline against the US Dollar. ETH price is currently trading well below the 100 hourly SMA and $1,100.<\/em><\/p>\n Yesterday, we saw a decent recovery wave in bitcoin<\/a>, ethereum, ripple and other altcoins. ETH price broke the $1,080 and $1,100 resistance levels. It even spiked above the $1,120 level.<\/p>\n However, the bears defended a major resistance zone near $1,150<\/a> and the 100 hourly simple moving average. A high was formed near $1,152 before the price started a fresh decline. There was a break below the $1,120 and $1,100 support levels.<\/p>\n Ether price even declined below the 50% Fib retracement level of the recovery wave from the $910 swing low to $1,152 high. There is also a key bearish trend line in place with resistance near $1,070 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n If there is no upside break above the trend line resistance and the 100 hourly simple moving average, there is a risk of more losses. An initial support is near the $1,000 level or the 61.8% Fib retracement level of the recovery wave from the $910 swing low to $1,152 high.<\/p>\n The next major support is near the $950 level, below which ether price might continue to move down towards the $900 and $880 levels in the near term.<\/p>\n If ethereum breaks the trend line resistance and $1,100, it could start a decent increase. The main resistance is still near the $1,150 zone and the 100 hourly simple moving average.<\/p>\n A close above the $1,150 level and the 100 hourly SMA could change the current bias. The next hurdle for the bulls above the $1,150 zone is near the $1,220 level.<\/p>\n Technical Indicators<\/p>\n Hourly MACD \u2013 <\/strong>The MACD for ETH\/USD is struggling to gain pace in the bullish zone.<\/p>\n Hourly RSI – <\/strong>The RSI for ETH\/USD is still below the 50 level, with a bearish angle.<\/p>\n Major Support Level \u2013 $1,000<\/p>\n Major Resistance Level \u2013 $1,150<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum struggled to clear $1,150 and started a fresh decline against the US Dollar. ETH price is currently trading well below the 100 hourly SMA and $1,100. Ethereum is showing a few bearish signs after getting rejected from the $1,150 resistance zone. The price is now trading well below $1,100 and the 100 hourly simple moving average. There is a key bearish trend line in place with resistance near $1,070 on the hourly chart of ETH\/USD (data feed via Kraken). The pair must settle above $1,120 and the 100 hourly SMA to start a fresh rally. Ethereum Price Could Decline Again Yesterday, we saw a decent recovery wave in bitcoin, ethereum, ripple and other altcoins. ETH price broke the $1,080 and $1,100 resistance levels. It even spiked above the $1,120 level. However, the bears defended a major resistance zone near $1,150 and the 100 hourly simple moving average. A high was formed near $1,152 before the price started a fresh decline. There was a break below the $1,120 and $1,100 support levels. Ether price even declined below the 50% Fib retracement level of the recovery wave from the $910 swing low to $1,152 high. There is also a key bearish trend line in place with resistance near $1,070 on the hourly chart of ETH\/USD. Source: ETHUSD on TradingView.com If there is no upside break above the trend line resistance and the 100 hourly simple moving average, there is a risk of more losses. An initial support is near the $1,000 level or the 61.8% Fib retracement level of the recovery wave from the $910 swing low to $1,152 high. The next major support is near the $950 level, below which ether price might continue to move down towards the $900 and $880 levels in the near term. Fresh Increase in ETH? If ethereum breaks the trend line resistance and $1,100, it could start a decent increase. The main resistance is still near the $1,150 zone and the 100 hourly simple moving average. A close above the $1,150 level and the 100 hourly SMA could change the current bias. The next hurdle for the bulls above the $1,150 zone is near the $1,220 level. Technical Indicators Hourly MACD \u2013 The MACD for ETH\/USD is struggling to gain pace in the bullish zone. Hourly RSI – The RSI for ETH\/USD is still below the 50 level, with a bearish angle. Major Support Level \u2013 $1,000 Major Resistance Level \u2013 $1,150<\/p>\n","protected":false},"author":67,"featured_media":454376,"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-454374","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 Could Decline Again<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Fresh Increase in ETH?<\/h2>\n