{"id":455354,"date":"2021-01-27T05:18:32","date_gmt":"2021-01-27T05:18:32","guid":{"rendered":"https:\/\/wncen.com\/?p=455354"},"modified":"2024-06-11T14:12:59","modified_gmt":"2024-06-11T14:12:59","slug":"ethereum-lacks-momentum-above-1350","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-lacks-momentum-above-1350\/","title":{"rendered":"TA: Ethereum Lacks Momentum Above $1,350, Why ETH Could Correct To $1,180"},"content":{"rendered":"
Ethereum is facing resistance near the $1,350 level against the US Dollar. ETH price could continue to move lower towards $1,200 or $1,180 unless it settles above $1,350.<\/em><\/p>\n After testing the $1,250 support zone<\/a>, Ethereum started a fresh increase. ETH broke the $1,300 and $1,320 resistance levels. It even broke the $1,350 level and the 100 hourly simple moving average.<\/p>\n However, the bulls failed to keep the price above $1,350. A high was formed near $1,375 and the price is currently declining. There was a break below the $1,350 support level. Ether is now trading well below $1,350 and the 100 hourly simple moving average.<\/p>\n It is testing the 50% Fib retracement level of the upward move from the $1,246 low to $1,375 high. It seems like there is a key bearish trend line forming with resistance near $1,360 on the hourly chart of ETH\/USD.<\/p>\n <\/a><\/p>\n On the downside, an immediate support is near the $1,295 level. It coincides with the 61.8% Fib retracement level of the upward move from the $1,246 low to $1,375 high. The next major support is near the $1,250 level, below which ether could continue to move down towards the $1,200 support zone or even $1,180.<\/p>\n If Ethereum stays above the $1,295 support zone, there are chances of an upside break above the 100 hourly simple moving average. The first major resistance is near the trend line and $1,350.<\/p>\n\n
Ethereum Price is Showing Bearish Signs<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
Upside Break in ETH?<\/h2>\n