Ethereum Just Reversed But Bulls Are Not Out of Woods Yet

2020-4-16 07:38

Ethereum is down close to 5% and it broke the $155 support area against the US Dollar. ETH price tested the main $145 support area and it is currently correcting higher. Ethereum struggled to clear the $160 resistance and decline below the $155 level. The bulls defended the main $145 support area (as discussed in the weekly analysis). There was a break below a major contracting triangle with support near $155 on the hourly chart of ETH/USD (data feed via SimpleFX). The pair must stay above the $145 support and recover above $155 to avoid more downsides. Ethereum Price Nosedives Yesterday, Ethereum made a couple of attempts to clear the $160 resistance area against the US Dollar. ETH price failed to gain bullish momentum above $160 and started a sharp decline. There was a break below the key $155 support and the 100 hourly simple moving average. More importantly, there was a break below a major contracting triangle with support near $155 on the hourly chart of ETH/USD. Ethereum Price The pair even traded below the $148 swing low and tested the main $145 support area (as discussed in the weekly analysis). A new weekly low is formed near $146 and the price is currently correcting higher. Ethereum surpassed the $150 level to start a decent recovery. The bulls pushed the price above the 23.6% Fib retracement level of the recent decline from the $160 swing high to $146 swing low. On the upside, there is a strong resistance forming near the $155 level and the 100 hourly simple moving average (the recent breakdown zone). The 50% Fib retracement level of the recent decline from the $160 swing high to $146 swing low is also near the $155 level. To move back into a positive zone, the price must clear the $155 resistance and make another attempt to surpass the key $160 resistance in the coming sessions. Bearish Scenario On the downside, there is a decisive support forming near the $145 level. If the bulls fail to keep Ethereum price above the $145 support, there is a risk of a sharp decline. The next support below $145 is near the $136 level, below which the price could even decline towards the $124 support level in the near term. Technical Indicators Hourly MACD – The MACD for ETH/USD is currently reducing its bearish slope. Hourly RSI – The RSI for ETH/USD is struggling to recover and it is below the 40 level. Major Support Level – $145 Major Resistance Level – $155 Image from unsplash

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3732.07 (-0.92%)
Объем 24H $32.692b
Изменеия 24h: 1.41 %, 7d: 27.72 %
Cегодня L: $3732.07 - H: $3817.91
Капитализация $448.328b Rank 2
Цена в час новости $ 167.34 (2130.23%)

ethereum area support 155 currently correcting 145

Источник: newsbtc.com

ethereum area → Результатов: 126


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Whale Watch: Ethereum Fresh Buy Signal Sparks Speculation

The Ethereum market has been a whirlwind of activity in recent days. After a brutal price correction last week, the world’s second-largest cryptocurrency by market capitalization has staged a mini-rebound, leaving investors wondering if this is the start of a sustained bull run or a fleeting flicker before another dip.

Ethereum To See Fresh Move Soon? What Futures Data Says

Data shows the Ethereum Open Interest has been trading at relatively low levels recently. Here’s what this could mean for the asset’s price. Ethereum Open Interest Has Been Moving Sideways Since Its Plunge As explained by an analyst in a CryptoQuant Quicktake post, the ETH Open Interest has followed a similar trajectory as the price of the cryptocurrency recently.

Ethereum Fees Now Lowest Since January: Is It A Bottom Signal?

On-chain data shows that Ethereum transaction fees have dropped to their lowest level since January, a sign that a bottom could be close. Ethereum Transfer Fees Has Plunged As Network Has Gone Cold According to data from the on-chain analytics firm Santiment, Ethereum transaction fees have taken a notable hit recently.

These Are The Ethereum Altcoins Witnessing High Whale Interest

Here are the Ethereum-based altcoins that are currently witnessing a high amount of activity from the whales, according to on-chain data. These Ethereum Altcoins Are Seeing High Whale Transactions Right Now In a new post on X, the on-chain analytics firm Santiment has discussed how several Ethereum-based altcoins have been seeing notable whale activity recently.

Ethereum Breaks $2,900, But Watch Out For Futures Overheating

Ethereum has broken beyond the $2,900 level during the past day, but data shows the futures market may be starting to become overheated. Ethereum Has Now Broken Through The $2,900 Level While Bitcoin has slumped to an overall sideways trajectory recently, Ethereum appears to have decided to pick a path of its own, as the second largest asset in the sector has surged almost 4% over the past 24 hours.

Recovery Dim? Ethereum Faces Potential Slide Towards $2,000

Ethereum, the linchpin of the decentralized application ecosystem, finds itself navigating a precarious path this week. The cryptocurrency’s value, having breached the pivotal $2,250 support level, now teeters on the edge of a decisive crossroads, caught between the prospect of a resurgence and the looming threat of a more pronounced downturn.