{"id":454487,"date":"2021-01-14T04:48:12","date_gmt":"2021-01-14T04:48:12","guid":{"rendered":"https:\/\/wncen.com\/?p=454487"},"modified":"2024-06-11T14:12:44","modified_gmt":"2024-06-11T14:12:44","slug":"ethereum-fails-again-at-1150","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-fails-again-at-1150\/","title":{"rendered":"TA: Ethereum Fails Again At $1,150: Why Dips Could Be Limited"},"content":{"rendered":"
Ethereum started a decent increase above $1,080, but it failed again near $1,150 against the US Dollar. ETH price is consolidating and it could make another attempt to clear $1,150.<\/em><\/p>\n There was a decent recovery wave in bitcoin<\/a>, ethereum, ripple and other altcoins. ETH price formed a support base above the $1,000 level and recovered above the $1,050 level.<\/p>\n There was also a break above a key bearish trend line with resistance near $1,060 on the hourly chart of ETH\/USD. It opened the doors for more gains above the $1,100 level and the 100 hourly simple moving average. Ether spiked above the $1,120 resistance, but it struggled to clear the $1,150 resistance<\/a> once again.<\/p>\n A high is formed near the $1,147 level and the price is current correcting lower. It broke the $1,120 level and tested the 23.6% Fib retracement level of the recent wave from the $983 swing low to $1,147 high.<\/p>\n <\/a><\/p>\n It is now trading near the $1,100 zone and the 100 hourly simple moving average. There is also a key ascending channel forming with support near $1,100 on the same chart. If there is a downside break below the channel support, the price could decline towards the $1,065 support zone.<\/p>\n The 50% Fib retracement level of the recent wave from the $983 swing low to $1,147 high is also near $1,065. The next major support is near the $1,045 level, below which the price could revisit $1,000.<\/p>\n If ethereum stays above the channel support, it could climb above $1,120. In the stated case, it could make another attempt to clear the $1,150 resistance level.<\/p>\n A close above the $1,150 level, with a proper follow through could start a strong increase. The next hurdle for the bulls above the $1,150 zone is near the $1,240 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 moving lower towards the 50 level.<\/p>\n Major Support Level \u2013 $1,065<\/p>\n Major Resistance Level \u2013 $1,150<\/p>\n","protected":false},"excerpt":{"rendered":" Ethereum started a decent increase above $1,080, but it failed again near $1,150 against the US Dollar. ETH price is consolidating and it could make another attempt to clear $1,150. Ethereum is still struggling to clear the main $1,150 resistance zone. The price is now trading near the $1,100 zone and the 100 hourly simple moving average. There is a key ascending channel forming with support near $1,100 on the hourly chart of ETH\/USD (data feed via Kraken). The pair could soon make another attempt to clear the $1,150 resistance level in the near term. Ethereum Price Testing Key Pivot Zone There was a decent recovery wave in bitcoin, ethereum, ripple and other altcoins. ETH price formed a support base above the $1,000 level and recovered above the $1,050 level. There was also a break above a key bearish trend line with resistance near $1,060 on the hourly chart of ETH\/USD. It opened the doors for more gains above the $1,100 level and the 100 hourly simple moving average. Ether spiked above the $1,120 resistance, but it struggled to clear the $1,150 resistance once again. A high is formed near the $1,147 level and the price is current correcting lower. It broke the $1,120 level and tested the 23.6% Fib retracement level of the recent wave from the $983 swing low to $1,147 high. Source: ETHUSD on TradingView.com It is now trading near the $1,100 zone and the 100 hourly simple moving average. There is also a key ascending channel forming with support near $1,100 on the same chart. If there is a downside break below the channel support, the price could decline towards the $1,065 support zone. The 50% Fib retracement level of the recent wave from the $983 swing low to $1,147 high is also near $1,065. The next major support is near the $1,045 level, below which the price could revisit $1,000. Upside Break in ETH? If ethereum stays above the channel support, it could climb above $1,120. In the stated case, it could make another attempt to clear the $1,150 resistance level. A close above the $1,150 level, with a proper follow through could start a strong increase. The next hurdle for the bulls above the $1,150 zone is near the $1,240 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 moving lower towards the 50 level. Major Support Level \u2013 $1,065 Major Resistance Level \u2013 $1,150<\/p>\n","protected":false},"author":67,"featured_media":454489,"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-454487","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 Testing Key Pivot Zone<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Upside Break in ETH?<\/h2>\n