• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Ethereum
Nexo Logo

TA: Ethereum Reverses Losses: Why ETH Could Face Resistance Near $1,130

Aayush Jindal by Aayush Jindal
1 year ago
in ETH
Reading Time: 2 mins read
Advertisement

Ethereum declined almost 30% and tested the $900 support zone against the US Dollar. ETH price is currently rising, but it is facing a strong resistance near $1,130.

  • Ethereum started a strong decline from well above $1,200 and traded close to $900.
  • The price is recovering nicely from $912, but it facing hurdles near $1,130 and the 100 hourly simple moving average.
  • There is a major bearish trend line in place with resistance near $1,130 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair must settle above $1,130 and the 100 hourly SMA to start a fresh rally.

Ethereum Price Recovers Losses

Yesterday, we saw a massive decline in bitcoin, ethereum, ripple and other altcoins. ETH price declined almost 30% and it broke many important supports near $1,120 and $1,050.

There was also a break below the $1,000 support level and the price traded close to the $900 level. A swing low was formed near $912 before the price started a fresh increase. It seems like the bulls defended the last swing region near the $900$-920 zone.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Ether price is up over 10% and it is trading nicely above $1,000. There was a break above the 23.6% Fib retracement level of the downside correction from the $1,352 swing high to $912 swing low.

Ethereum Price

Source: ETHUSD on TradingView.com

However, the price is facing hurdles near $1,130 and the 100 hourly simple moving average. There is also a major bearish trend line in place with resistance near $1,130 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the downside correction from the $1,352 swing high to $912 swing low.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

To start a fresh rally, ether price must clear the trend line resistance, $1,130, and the 100 hourly simple moving average. The next major resistance above $1,130 is near the $1,200 level.

Fresh Dips in ETH?

If ethereum fails to clear the $1,130 resistance and the 100 hourly simple moving average, it could start a fresh decline. An initial support on the downside is near the $1,050 level.

The first key support is near the $1,000 level. A downside break below the $1,000 level may possibly start a fresh decline towards the $900-$920 support zone in the coming sessions.

Technical Indicators

Hourly MACD – The MACD for ETH/USD is gaining pace in the bullish zone.

Hourly RSI – The RSI for ETH/USD is back above the 50 level, with a bullish angle.

Major Support Level – $1,000

Major Resistance Level – $1,130

Tags: ethereumethusdETHUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Aayush Jindal

Aayush Jindal

Aayush is a Senior Forex, Cryptocurrencies and Financial Market Strategist with a background in IT and financial markets. He specialises in market strategies and technical analysis, and has spent over a DECADE as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the currency, commodities, Bitcoin and Ethereum markets.

Related Posts

Ethereum

TA: Ethereum Reclaims $2K, Why Upsides Could Be Limited Above $2.2K

1 week ago
Ethereum Price ETH

TA: Ethereum Dives 15%, Why Close Below $2K Is The Key

1 week ago
Ethereum

TA: Ethereum Nears Breakout Zone, Why ETH Might Start Recovery

1 week ago
Ethereum

TA: Ethereum Bears Aim Big After Recent Breakdown Below $2.5K

2 weeks ago
Ethereum

TA: Ethereum Takes Hit, Why ETH Could Plunge Below $2,700

2 weeks ago
Ethereum (ETH)

TA: Ethereum Regains Strength But $3K Is Still A Major Hurdle

2 weeks ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

DeHub Launches The First Blockchain End-To-End Entertainment Hub

May 21, 2022

Carbon Removal Marketplace Achieves Key Milestone

May 21, 2022

NFCore (NFCR) Is Now Available for Trading on LBank Exchange

May 20, 2022

How to Gain Great Sums with Quitriam Finance (QTM), Cosmos (ATOM), Flow (FLOW)?

May 20, 2022

3 Cryptocurrencies that could give you Greater Gains: Mushe Token (XMU), Cardano (ADA), and Polkadot (DOT)

May 20, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.