{"id":454691,"date":"2021-01-18T05:18:45","date_gmt":"2021-01-18T05:18:45","guid":{"rendered":"https:\/\/wncen.com\/?p=454691"},"modified":"2024-06-11T14:12:49","modified_gmt":"2024-06-11T14:12:49","slug":"ethereum-eth-could-outperform-btc","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-eth-could-outperform-btc\/","title":{"rendered":"TA: Ethereum Steadies Above $1,150: Why ETH Could Outperform BTC"},"content":{"rendered":"
Ethereum is holding a major support near $1,150 against the US Dollar. ETH price is consolidating and it is likely setting up for a major upside break above $1,250<\/em><\/p>\n In the past 2-3 sessions, Ethereum made two attempts to gain strength above $1,250 and $1,280<\/a>. ETH price failed to settle above $1,250, formed a high near $1,270, and recently started a fresh decline.<\/p>\n There was a break below the $1,225 and $1,220 support levels. Ether price even spiked below the $1,200 level and tested the 100 hourly simple moving average. A low is formed near $1,184 and it is currently consolidating near the $1,195 level.<\/p>\n It seems like there is a key contracting triangle forming with support near $1,195 on the hourly chart of ETH\/USD. An initial resistance on the upside is near the $1,225 level. It is close to the 50% Fib retracement level of the recent decline from the $1,270 high to $1,184 low.<\/p>\n <\/a><\/p>\n The first major resistance is near the $1,250 level. It coincides with the 76.4% Fib retracement level of the recent decline from the $1,270 high to $1,184 low. If ether price breaks the $1,250 resistance and the triangle upper trend line, there are chances of a strong increase.<\/p>\n The next major resistance is near the $1,280 level. A close above $1,280 will most likely open the doors for a strong rally above $1,300 and $1,350.<\/p>\n\n
Ethereum Price Holding Key Support<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Dips Supported in ETH?<\/h2>\n