{"id":493712,"date":"2022-06-22T05:28:37","date_gmt":"2022-06-22T05:28:37","guid":{"rendered":"https:\/\/wncen.com\/?p=493712"},"modified":"2024-06-11T14:20:47","modified_gmt":"2024-06-11T14:20:47","slug":"ethereum-tops-near-1200","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-tops-near-1200\/","title":{"rendered":"TA: Ethereum Tops Near $1,200, Why Dips Could Be Attractive"},"content":{"rendered":"
Ethereum started an upside correction above the $1,050 zone against the US Dollar. ETH traded close to the $1,200 resistance zone before it faced sellers.<\/em><\/p>\n Ethereum was able to climb above the $1,050 resistance zone<\/a>. ETH even recovered above the $1,120 resistance zone and settled above the 100 hourly simple moving average.<\/p>\n Finally, the price surpassed the $1,150 resistance and traded close to the $1,200 level. A high was formed near $1,192 before the bears appeared. Ether price failed to continue higher and traded below the $1,150 level.<\/p>\n There was a break below the 23.6% Fib retracement level of the upward move from the $880 swing low to $1,192 high. Besides, there was a break below a key bullish trend line with support near $1,180 on the hourly chart of ETH\/USD.<\/p>\n Ether price is now trading below $1,150 and the 100 hourly simple moving average<\/a>. An immediate resistance is near the $1,120 level. The next major resistance is near the $1,150 zone. A clear move above the $1,150 resistance zone may perhaps push the price towards $1,200.<\/p>\n <\/a><\/p>\n The next major resistance is near the $1,250 level. Any more gains could start a move towards the $1,320 resistance in the near term.<\/p>\n If ethereum fails to rise above the $1,120 resistance, it could continue to move down. An initial support on the downside is near the $1,060 zone.<\/p>\n\n
Ethereum Price Corrects Lower<\/h2>\n
Source: ETHUSD on TradingView.com<\/a><\/pre>\n
More Losses in ETH?<\/h2>\n